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Datametrex Announces Closing of the First Tranche of Non-Brokered Private Placement Financing

Toronto, Ontario--(Newsfile Corp. - July 3, 2024) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink: DTMXF) (the "Company" or "Datametrex") is pleased to announce that, further to its news release dated June 13, 2024, the Company has successfully closed the first tranche of its non-brokered private placement financing, raising gross proceeds of $645,500 through the issuance of 32,275,000 units ("Units") at a price of $0.02 per Unit (the "Private Placement").


Each Unit comprises one common share of the Company ("Share") and one common share purchase warrant ("Warrant"). Each Warrant allows the holder to purchase one additional Share of the Company at an exercise price of $0.05 per Share for a period of two years from the date of issuance.


The net proceeds from the Private Placement will be allocated towards general working capital. No finder's fees were incurred in connection with this financing.


Company insiders participated in the Private Placement by subscribing for 3,000,000 Units. This participation is classified as a "related party transaction" under Multinational Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction is exempt from formal valuation and minority approval requirements pursuant to sections 5.5 (a), (b), and (c) and 5.7(1) (a) and (b) of MI 61-101, as the Company is not listed on a specified market, the transaction was a cash distribution of securities, and neither the fair market value of the Units distributed to nor the consideration received from related parties exceeded 25% of the issuer's market capitalization or $2,500,000. The Company did not file a material change report at least 21 days prior to the completion of the Offering, as the details of the related party participation were not determined at that time, allowing the Company to complete the Offering swiftly, which it considers reasonable under the circumstances.


CEO Charles Park stated, "We appreciate the strong support from our investors, which highlights their confidence in Datametrex's strategic direction. The funds raised will enable us to continue our growth trajectory and achieve our objectives, ultimately delivering value to our shareholders."


The closing of the Private Placement is subject to certain standard conditions including, but not limited to, the approval of the TSX Venture Exchange.


All securities are issued pursuant to the Private Placement are subject to a hold period of four months and one day in accordance with applicable Canadian securities laws. The Private Placement has not resulted in the creation of a new control person of the Company.


The securities offered have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.



About Datametrex


Datametrex is an innovative leader in Technology Solutions, Artificial Intelligence, Healthcare, and Mobile Gaming. The Company excels in delivering tools and solutions that enhance operational efficiencies and business outcomes. With a commitment to innovation, Datametrex is dedicated to supporting enterprises by setting a new standard for business protocols through cutting-edge technology.


For more on Datametrex, please visit our YouTube channel and Company website.



For Additional Information


Charles Park, CFA

Chief Executive Officer & Director

(416) 901-5611 x203



Neither 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


This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Datametrex's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Such statements include those relating to game development and the Company's expectations and plans. Although Datametrex believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.


Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; future legislative and regulatory developments in the blockchain sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mobile video game industry and markets in Canada and generally; the ability of Datametrex to implement its business strategies; competition; and other assumptions, risks and uncertainties. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in Datametrex's management's discussion and analysis for the year ended December 31, 2023 which is available on Datametrex's profile at http://www.sedarplus.ca.


This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.


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