TORONTO, March 01, 2019 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G) announces that it has entered into an amended and final settlement agreement (the “Amended Settlement Agreement”) with Mr. Darcy Taylor, the former President of Ronin Blockchain Corp. (“Ronin”), a wholly owned subsidiary of the Company, based on the original terms of which were previously announced on November 27, 2018. In accordance with the terms of the Amended Settlement Agreement, Mr. Taylor has entered into an agreement with the Company to serve as an independent consultant to assist and advise the Company on matters relating to Ronin on a fixed hourly fee basis without minimum hours. In connection with the terms of settlement, the Company has issued to Mr. Taylor 363,636 common shares in the capital of the Company (“Common Shares”) in satisfaction of $20,000 of indebtedness at a deemed price of $0.055 per share, and granted Mr. Taylor 500,000 stock options pursuant to the Company’s stock option plan. Each option will vest immediately and be exercisable for one Common Share at an exercise price equal to $0.20 per share for a period of 12 months from the date of issuance. The 363,636 Common Shares were issued to preserve the Company’s cash and was approved by the directors of the Company and by the TSX Venture Exchange.
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) and Implementing Blockchain technology for secure Data Transfers through its investee company, Graph Blockchain (www.graphblockchain.com).
For further information, please contact:
Jeffrey Stevens – President & COO
Phone: (647) 400-8494
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.