TORONTO, Dec. 06, 2017 (GLOBE NEWSWIRE) — Datametrex AI Limited (the “Company”) (TSXV:DM) (FSE:D4G) announces that its Board of Directors has approved a proposed shares for debt settlement (the “Shares for Debt Settlement”) with certain creditors, providing for the settlement of an aggregate of $330,000 in debt through the issuance of an aggregate of 1,434,781 common shares of the Company at an issue price of $0.23 per common share.
The Shares for Debt Settlement is subject to approval of the TSX Venture Exchange.
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 solutions for secure data transfers. The company is planning on integrating the DataTap environment to decentralized blockchains to further authenticate and validate the data collected.
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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 contains “forward-looking information” within the meaning of applicable Canadian securities laws including statements regarding obtaining approval of the Shares for Debt Settlement from the TSX Venture Exchange. Forward-looking information is not a guarantee of future performance or results, since it involves both known and unknown risks and uncertainties. There is no assurance that forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this news release include, but are not limited to the ability of the Company to obtain TSX Venture Exchange approval to complete the Shares for Debt Settlement. These statements speak only as of the date of this news release, and the Company does not undertake any obligation to publicly update or revise any forward-looking information except as expressly required by applicable Canadian securities laws.