TORONTO, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Further to its press release of October 16, 2018, Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G) announces that its subsidiary, Canntop AI Inc. (“Canntop”) will no longer be issuing an aggregate of 4,000,000 common shares to certain directors, officers and employees of the Company and its subsidiaries at a nominal value nor an aggregate of 1,600,000 stock options under its stock option plan to certain directors, officers and employees of the Company.
Canntop will carry out an arm’s length private placement of up to 8,000,000 common shares (“Canntop Shares”) at a price of $0.25 per Canntop Share for gross proceeds of $2,000,000; provided that Canntop may increase the size of the offering to meet investor demand (the “Over-allotment Option”).
Following the issuance of the Canntop Shares, Canntop will have 24,000,000 Canntop Shares issued and outstanding (not including the Over-allotment Option”) and Datametrex will hold 16,000,000 Canntop shares representing 66.67% of the total number of issued and outstanding Canntop Shares on a non-diluted basis.
The above issuances of Canntop Shares are conditional upon acceptance of the TSX Venture Exchange.
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).
About Canntop AI Inc.
Canntop AI Inc. has been established to focus on the global cannabis industry. Canntop AI will utilize Nexalogy’s tool set and unique algorithms to analyze large unstructured data sets from the Agriculture and Cannabis space. By gathering and analyzing the data Canntop Al will be able to provide cultivators and dispensaries with business intelligence that allows them to better understand their clients and markets in the areas of patient analysis, strain and protocol management, and quality assurance.
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.