TORONTO, Jan. 04, 2018 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (DM.V) (D4G.F) and its San Francisco based joint venture partner Bitnine Global Inc. (“Bitnine”) are pleased to announce its plan to spin out its joint venture entity Graph Blockchain Limited (“Graph”), together with all of its assets and liabilities as a separate operating entity to create a standalone publicly traded company (the “Proposed Spin-Out”).
Pursuant to the terms of the Proposed Spin-Out, it is anticipated that Datametrex will set a record date in the 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. The Proposed Spin-Out will be subject to regulatory approval, including the approval of the TSX Venture Exchange and the shareholders of Datametrex (if required).
Graph Blockchain is in the process of building a prototype for a utility company to analyze electric vehicle charging stations and has a contract with Revive Therapeutics Ltd. (RVV.V) (RVVTF), to develop the blockchain component in Revive’s proprietary patient-focused program enabled by Nexalogy’s artificial intelligence (“AI”) dedicated to the medical cannabis industry.
Graph Blockchain through graph database and blockchain technology provides a unique way of organizing, analyzing and displaying blockchain transactional data in real-time. Our Graph Database technology presents Blockchain data up to 1,000 times faster than traditional methods from 7 transactions per second (“TPS”) to 7,000 TPS. It is the most effective technology to store, manage and present Blockchain transactions specifically in peer to peer networks making it ideal for Fintech, Banking and other mission critical environments.
“We see a tremendous opportunity to realize greater shareholders value by spinning out Graph Blockchain as a stand alone company that will ultimately provide shareholders the opportunity to realize the benefit of additional liquidity of their investment. We firmly believe that the sum of the parts is worth more than the whole when comparing Datametrex market cap to our peers and we will analyse each vertical to determine if a spin out is the best option for Datametrex shareholders,” says Andrew Ryu, Chairman and CEO of the Company.
About the Company
Datametrex AI Limited is focused on the collection of retail sales data, providing Government Agencies and Fortune 500 corporations with Artificial Intelligence solutions and implementing Blockchain technology for secure Data Transfers and Cryptocurrency Mining.
Additional information on Datametrex is available at: www.datametrex.com.
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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.
This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Such forward-looking information and statements are not representative of historical facts or information or current condition, but instead represent only the Company's belief regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control.
Generally, such forward-looking information or statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”.
The forward-looking information contained herein includes, but is not limited to, information with respect to prospective financial performance, anticipated capital funding and sources, proposed or potential acquisitions, estimated operating and sales costs, estimated market drivers and demand, business prospects and strategy, new markets for growth and financial position. By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Accordingly, readers should not place undue reliance on any forward-looking information or statements contained in this press release.
The forward-looking information contained in this press release is made as of the date hereof, and the Company does not undertake to update any forward-looking information that is contained or referenced herein, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. All subsequent written and oral forward looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in its entirety by this notice.