TORONTO, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G) is pleased to provide shareholders with an update on the status of the going public process for Graph Blockchain Limited (“Graph”) via a reverse-takeover (“RTO”) with Reg Technologies Inc. (“RegTech”).
As previously announced on June 1, 2018, Graph and RegTech entered into a Letter of Intent to effect an RTO, which would result in RegTech acquiring all the issued and outstanding securities of Graph, furthermore giving Graph a pre-financing valuation of over C$39 Million.
To-date, the RTO process has been moving forward as expected and a number of milestones have been achieved. Most notably, RegTech has filed their Information Circular with the respective US and Canadian transfer agents. Additionally, in relation to the RTO, RegTech has announced and filed on SEDAR (www.sedar.com) their Annual General and Special Meeting for September 17, 2018.
With the positive continuation of the RTO process and in anticipation of the closing, as previously announced, Graph intends to begin marketing its concurrent private placement of common shares at a price of C$0.30 per common share within the next week.
“There are many moving parts when looking at the RTO process, and it’s always great when it all comes together, and things stay on track with projected timelines. A lot of diligent work is being put in by both Graph and RegTech to ensure that we are maximizing value for our shareholders, and I’m excited as we enter the home stretch of listing the company,” says Peter Kim, President and COO of Graph.
About RegTech
RegTech was incorporated under the provisions of the Business Corporations Act (British Columbia) with its registered and head office in Vancouver, British Columbia. RegTech is a “reporting issuer” within the meaning of the, Securities Act (British Columbia) and Securities Act (Alberta) and is currently subject to a cease trade order and its securities are not currently listed on any Canadian stock exchange.
About Graph Blockchain Limited
Graph Blockchain is in the process of listing as a public company on the Canadian Securities Exchange, by way of a reverse-takeover, resulting in a pre-financing valuation of approximately $39 Million CAD (click here for more information). Graph was started as a joint venture formed between Datametrex and Bitnine, with the mandate to bring the value of Graph Database technology to the blockchain environment where there is a great need to enhance performance and present the verified and authenticated data in unique ways.
About Datametrex AI Limited
Datametrex AI Limited is a technology focused company with exposure to four exciting verticals. Big Data, collecting data from retail point of sales environments. Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com). Implementing Blockchain technology for secure Data Transfers through its joint venture company, Graph Blockchain (www.graphblockchain.com). Industrial scale Cryptocurrency Mining through its wholly owned subsidiary, Ronin Blockchain Corp (www.roninblockchain.com).
Additional information on Datametrex is available at: www.datametrex.com
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For further information, please contact:
Jeffrey Stevens – President & COO
Phone: (647) 400-8494
Email: jstevens@datametrex.com
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
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including statements regarding the timing and completion of any public listings or blockchain related activities. Forward-looking information is not a guarantee of future performance or results, since it involves risks and uncertainties. There is no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in forward-looking statements. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the lack of material changes to general economic, market and business conditions. Except as required by law, the Corporation does not assume and expressly renounces any obligation to update any forward-looking information, which is only applicable on the date on which it is given.