TORONTO - February 11, 2021 - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink: DTMXF) (the "Company" or "Datametrex") is pleased to announce that further to its press releases dated January 7, 2021 and January 22, 2021, it has closed its acquisition of 100% of Concierge Medical Consultants Inc.'s ("Concierge") issued and outstanding securities (the "Transaction"), pursuant to terms of the share exchange agreement entered into between the Company, Concierge, and the shareholders of Concierge (the "Concierge Shareholders") effective January 19, 2021 (the "Definitive Agreement").
Concierge is an arm's length private telehealth and medical concierge services company incorporated under the laws of British Columbia.
Terms of the Transaction
Pursuant to the Definitive Agreement, the Company issued 4,411,764 common shares in the capital of the Company (the "Common Shares") to the Concierge Shareholders at a price of $0.17 per Common Share for an aggregate purchase price of $750,000.
No finder's fee was payable in connection with the Transaction.
"Hospital ER's and health practitioners' clinics are making a strong push for patients who have mild symptoms to use telehealth platforms during the pandemic crisis to help alleviate the strain on emergency rooms and doctors' offices and I believe this will continue after the pandemic crisis is over," commented Dr. Jibran Sharif, MD, founder, and CEO of Concierge.
"Telemedicine visits are booming as doctors and patients have adopted social distancing amid the coronavirus crisis, and with the concierge services Dr. Sharif provide, we envision an end to end turnkey solution for patient healthcare," said Marshall Gunter, CEO of Datametrex, with respect to the closing of the Transaction.
Operations of Concierge Upon Completion of the Transaction
Concierge has become a wholly-owned operating subsidiary of the Company. The Company has appointed Andrew Ryu, Marshall Gunter, and Dr. Jibran Sharif as the new board of the directors of Concierge, and Dr. Sharif is appointed as the President of Concierge following the closing of the Transaction (the "Closing"). In addition, concurrent with the Closing, the Company has entered into a employment agreement with the founder and President of Concierge, Dr. Jibran Sharif. In addition to his role as President of Concierge, Dr. Jibran Sharif will become the Chief Medical Officer of Datametrex.
Concierge is a small group of board-certified practicing emergency physicians who think that urgent care does not just happen in an Emergency Room or your doctor's office, it can happen anywhere at any time.
Dr. Jibran Sharif, MD, CCFP EM, RDMS
Dr. Jibran Sharif was the founder and CEO of Concierge Medical Consultants and grew up in Vancouver. He earned a degree in Economics at the University of British Columbia before graduating with a medical degree and residencies in Emergency Medicine and Ultrasound at the University of Sydney, University of Saskatchewan, and the University of Calgary, respectively. He is a full-time emergency physician in the GVRD and a Clinical lecturer with the faculty of Emergency Medicine at the University of British Columbia.
Datametrex AI Limited is a technology-focused with exposure to Artificial Intelligence and Machine Learning through its wholly-owned subsidiary, Nexalogy (www.nexalogy.com). Datametrex's mission is to provide tools that support companies in fulfilling their operational goals, including Health and Safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, Company provides progressive solutions to support the supply chain.
For additional information on Datametrex and other corporate information, please visit the Company's website at www.datametrex.com.
For further information, please contact:
Marshall Gunter - CEO Phone: (514) 295-2300 Email: email@example.com
NONE OF THE SECURITIES TO BE ISSUED PURSUANT TO THE TRANSACTION HAVE BEEN OR WILL BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND ANY SECURITIES ISSUED PURSUANT TO THE TRANSACTION ARE ANTICIPATED TO BE ISSUED IN RELIANCE UPON AVAILABLE EXEMPTIONS FROM SUCH REGISTRATION REQUIREMENTS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
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.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. In particular, forward-looking information in this press release includes, but is not limited to, the general adoption of telemedicine technology, the growth of the telemedicine industry, and the integration of Concierge's business with the Company's current businesses. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things: the growth of the telemedicine industry, the ability of the Company to successfully integrate its business with Concierge's business, and management's ability to successfully execute its strategy. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause the Company and Concierge's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Risk factors include but are not limited to, business disruption risks relating to COVID-19; regulatory risks, including those related to healthcare, privacy and data security; and integration risks relating to the acquired business on a post-closing basis. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company and Concierge disclaim any obligation to revise or update any such forward-looking information or to publicly announce, the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.