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Datametrex Announces $600,000 Renewal Contract with LOTTE

TORONTO, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or Datametrex”) (TSXV: DM) (FSE: D4G) is pleased to announce it has secured an additional contract with a division of LOTTE for approximately $600,000. The contract is renewal from last year, and it is for 12 months monthly subscription.

“I am thrilled to start the new year with a large contract from LOTTE. Our team is doing an excellent job servicing LOTTE as they continue to execute on our “land and expand” strategy. Generating more SaaS business is one of our key objectives as it will help to smooth out our lumpier government contracts,” says Marshall Gunter, CEO of the Company.

The Company also wishes to provide an update on the previously announced license sale to GreenInsightz. Given the challenging environment in the sector, GreenInsightz and Datametrex have agreed to rework the purchase terms as follows:

  • $250,000 CAD cash payment
  • 30% of GreenInsightz equity position

About Datametrex

Datametrex AI Limited is a technology focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com).

For further information, please contact:

Jeff Stevens
Email: jstevens@datametrex.com
Phone: 647-777-7974

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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.