Toronto, Ontario--(November 16, 2021) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to announce that it has closed on the sale of Concierge Medical Consultants Inc. ("Concierge") to ScreenPro Security Inc. ("ScreenPro"), pursuant to terms of a share purchase agreement entered into between the Company and ScreenPro Security Inc., effective November 15, 2021 (the "Definitive Agreement").
Concierge is a medical concierge services company incorporated under the laws of British Columbia.
Terms of the Transaction
Pursuant to the Definitive Agreement, the Company was issued 36,000,000 common shares in the capital (the "Common Shares") of ScreenPro at a deemed price of $0.05 per Common Share for an aggregate purchase price of $1,800,000.
No finder's fee was payable in connection with the Definitive Agreement, and ScreenPro does not assume any debt. The sale does not constitute a fundamental change or result in a change of business, nor is it expected to result in a change of control within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE") and or the Toronto Venture Exchange (the "TSX.V").
Marshall Gunter, CEO of the Company commented, "We expect the sale of Concierge to benefit both Datametrex and ScreenPro in a number of ways. The stock issued to the company from this divestiture brings Datametrex a very good long-term investment in a great company. ScreenPro grows its core medical business, and this allows Datametrex management team to spend more time on our core artificial intelligence business. We will use this positive push to continue to look for tech opportunities to accelerate further our AI business portfolio."
Datametrex AI Limited is a technology-focused company 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
Neither the TSX Venture Exchange nor it's 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.
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. In particular, there is no guarantee that the parties will successfully negotiate and enter into a definitive agreement on mutually acceptable terms or complete the Transaction in the manner contemplated herein, if at all, that the due diligence of any of the parties will be satisfactory, or that the parties will obtain any required board, shareholder, third-party and/or regulatory or other governmental approvals, if any. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.