DataMetrex Completes $1.5 Million Private Placement

TORONTO, ON / ACCESSWIRE / August 20, 2024 / Datametrex AI Limited (the "Company" or "Datametrex") (TSXV:DM)(FSE:D4G)(OTC Pink:DTMXF) is pleased to announce that further to its news release dated July 30, 2024, the Company has successfully closed the final tranche of its non-brokered private placement financing (the "Private Placement" or "Financing"), raising gross proceeds of $565,000.00, for an aggregate total of $1,521,909.30, across all 3 tranches.

The final tranche consisted of 28,250,000 units ("Units") at a price of $0.02 per Unit. Each Unit comprises one common share in the capital of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one additional common share at an exercise price of $0.05 for a period of two (2) years from the date of issuance. No finder's fees were incurred in connection with the Financing.

The net proceeds from the Private Placement will be used for general corporate and working capital purposes. The Common Shares and Warrants issued pursuant to the Private Placement will be subject to a four-month and one-day hold period required under applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.

Insiders of the Company participated in the final tranche of the financing in the amount of $190,000. Insiders are considered "related parties" of the Company for the purposes of applicable securities laws and stock exchange rules. The subscription and issuance of Units by the Insiders constitute related party transactions but are exempt from the formal valuation and minority approval requirements of Regulation 61-101 - Protection of Minority Security Holders in Special Transactions as neither the fair market value of the common shares and common share purchase warrants issued to each of the Insiders, nor the consideration paid by such Insiders, exceeds 25% of the Company's market capitalization.

Charles Park, CEO of the Company, stated, "We are delighted to announce the closing of our private placement financing. The unwavering support from our investors highlights their trust in our strategic vision and operational strengths. This latest funding round is pivotal in propelling our corporate initiatives and accelerating growth. We are steadfast in our commitment to maximizing shareholder value and achieving our business goals."

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
cpark@datametrex.com
(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 "forward-looking statements," which involve risks, uncertainties, and factors that could cause actual results to differ materially from those anticipated. These statements are not historical facts and are generally identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," and similar expressions. Such statements include expectations related to game development and other Company plans.

While Datametrex believes the forward-looking information is reasonable as of the date of this release, these statements involve assumptions, risks, and uncertainties that could cause actual outcomes to differ. Key factors include general economic conditions, legislative and regulatory developments, access to capital, industry competition, and the Company's ability to execute its strategies. The Company does not undertake to update these statements, except as required by law. Readers are advised not to place undue reliance on forward-looking information.

Factors that could cause actual results to differ materially are detailed under "Risk Factors" in Datametrex's management's discussion and analysis for the year ended December 31, 2023, available on the Company's profile at www.sedarplus.ca.

This release does not constitute an offer to sell or a solicitation to buy, nor shall it constitute an offer, solicitation, or sale in any jurisdiction where such would be unlawful prior to registration or qualification under applicable securities laws. We seek Safe Harbor.

SOURCE: DataMetrex AI Ltd.