TSX Venture Exchange Symbol "DM"
TORONTO, March 20, 2018 /CNW/ - Datametrex AI Limited (the "Company" or "Datametrex") (TSXV: DM, FSE: D4G) is pleased to announce that its joint venture company, Graph Blockchain Limited ("Graph") has filed the preliminary non-offering prospectus ("NOP") of Graph Blockchain Limited ("Graph") with the Ontario Securities Commission ("OSC").
On January 3, 2018 Datametrex and its San Francisco based joint venture partner Bitnine Global Inc. ("Bitnine") announced its intention to explore a going public transaction in order to create a stand-alone publicly traded company which will commercialize the blockchain technology being utilized and developed by Graph across a number of high growth sectors (the "Proposed Going Public Transaction").
Pursuant to the terms of the Proposed Going Public Transaction and subject to regulatory approval, it is anticipated that Datametrex will set a record date in the near future, (the "Record Date") pursuant to which shareholders as of the Record Date will be entitled to receive one (1) common share in the capital of Graph for every twenty (20) common shares of Datametrex held as of the Record Date.
"The fact that Graph has successfully secured three (3) contracts for its blockchain solutions to the tune of approximately $800,000 CAD in the past four months supports our view that it is a stand-alone company. In partnering with IBM and working with our team in Canada, we are confident in Graph's ability to build on this impressive momentum. Datametrex intends to remain the largest shareholder of Graph as it goes public, and our shareholders of Record Date will receive the benefit of a share dividend for their support to Datametrex" says Andrew Ryu, Chairman and CEO of the Company.
The NOP is a non-offering prospectus, which contains important information relating to Graph's business and operations and common shares, and is still subject to completion or amendment and final receipt and acceptance by the OSC. Copies of the NOP are available under Graph's profile on SEDAR at http://www.sedar.com. The Company will update investors once this has been accepted in final form by the Ontario Securities Commission.
About Graph Blockchain
Graph Blockchain is a joint venture formed between Datametrex and Bitnine. The JV mandate is to bring the value of Graph Database technology to the blockchain environment where there is a great need to enhance performance and present the verified and authenticated data in unique ways.
About Datametrex AI Ltd
Datametrex AI Limited is a technology focused company with exposure to four exciting verticals. Big Data, collecting data from retail point of sales environments. Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com). Implementing Blockchain technology for secure Data Transfers through its joint venture company, Graph Blockchain (www.graphblockchain.com). Industrial scale Cryptocurrency Mining through its wholly owned subsidiary, Ronin Blockchain Corp (www.roninblockchain.com).
Additional information on Datametrex is available at: www.datametrex.com
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding the timing, approval and completion of the Proposed Going Public Transaction. Forward-looking information is not a guarantee of future performance or results, since it involves risks and uncertainties. There is no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in forward-looking statements. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the receipt of necessary approvals from securities regulatory authorities for the Proposed Going Public Transaction. Except as required by law, the Company does not assume and expressly renounces any obligation to update any forward-looking information, which is only applicable on the date on which it is given.
SOURCE Datametrex AI Limited
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