Datametrex Announces Debt Settlement Actions
TORONTO, Aug 07, 2020 (GLOBE NEWSWIRE) – Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G, OTC: DTMXF) announces that it has entered into debt settlement agreements (the “Settlement Agreements“) with three certain arm’s length creditors (the”Creditors“) to settle a total debt of $ 189,240 (the”Debt“) for services provided by creditors to the Company (the”Services“).
In connection with the settlement and settlement of the service debt, the Company has agreed to issue to creditors a total of 1,146,909 ordinary shares in the capital of the Company (the “Debt share“) at a deemed issue price of $ 0.165 per debt share (the”Debt settlement“). The issuance of the Debt Shares is subject to final approval by the TSX Venture Exchange.
All Debt Shares issued under the Debt Settlement are subject to a statutory hold period of four months plus one day from the date of issue of the Debt Shares in accordance with securities legislation. applicable.
Datametrex AI Limited is a technology-driven 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 help businesses achieve their operational health and safety goals with predictive and preventative technologies. By working with businesses to set a new standard of protocols through artificial intelligence and health diagnostics, the company is providing progressive solutions to support the supply chain.
Further information on Datametrex is available at www.datametrex.com
For more information, please contact:
Marshall Gunter – CEO
Telephone: (514) 295-2300
E-mail: [email protected]
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 press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained in this document which are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information may be identified by words or phrases such as “could”, “will”, “expect”, “likely”, “should”, “should”, “expect”, ” anticipate “,” intend “,” potential “,” proposed “,” estimate “,” believe “or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” occur, or through policy discussions.
Readers are urged to carefully consider these and other factors, uncertainties and potential events, and not to place undue reliance on forward-looking information. The forward-looking information contained in this document is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management at the date on which such forward-looking information is made. The Company assumes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material differences between subsequent actual events and such forward-looking information, except as required by applicable law.