Graph Blockchain Announces Agreement for Strategic Acquisition of DM EVS

November 14, 2023 9:03 AM EST | Source: New World Solutions Inc.

Toronto, Ontario--(Newsfile Corp. - November 14, 2023) - Graph Blockchain Inc. (CSE: GBLC) (OTC Pink: REGRF) (FSE: RT50) ("GBLC" or "Graph Blockchain" or the "Company") is pleased to announce that the Company signed, effective November 13, 2023, a definitive agreement to acquire DataMetrex Electric Vehicle Solutions Inc. ("DM EVS") from Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) ("Datametrex").

Closing of the proposed transaction is subject to a number of conditions including regulatory approvals, including acceptance by CSE and TSXV as required, board approvals and completion of satisfactory due diligence.

The proposed acquisition serves as a pivotal step in Graph Blockchain's plan to enhance its portfolio with a focus on environmentally sustainable solutions. The Company views the integration of DM EVS as an opportunity to establish a significant footprint in the EV space, complementing its existing blockchain endeavours.

Paul Haber, CEO and Chairman of Graph Blockchain, commented, "By acquiring DM EVS, we are not only entering into the rapidly evolving electric vehicle market but also aligning with global trends towards green technology. This purchase positions us at the forefront of two cutting-edge industries: blockchain and EV technology."

Details of the Proposed Transaction:

The total aggregate purchase price is an aggregate of to $3,750,000, subject to meeting certain milestones. On closing, the Company shall pay the sum of $750,000 by issuing to Datametrex 15,000,000 common shares of the Company issued at a deemed price of $0.05 per share. In addition, up to three (3) Earn-Out Payments of $1,000,000 each may be payable by the Company to Datametrex if DMEVS achieves certain milestone over the next three (3) years, and this highlights GBLC's long-term commitment to innovation and value creation in the EV sector.

Upon completion of the proposed transaction, Datametrex will own approximately 18,928,936 shares of the Company representing approximately 19.66% of the Company's issued and outstanding shares.

About Graph Blockchain

Graph Blockchain Inc. is at the forefront of electric vehicle (EV) and blockchain technology The company's portfolio includes Babbage Mining Corp., specializing in Proof of Stake mining, enhancing its role in the expanding EV market. Additionally, Graph Blockchain has interests in the cryptocurrency space through Beyond the Moon Inc., aiming to deliver a broad spectrum of investment opportunities to shareholders by capitalizing on the transformative power of EVs and blockchain.

For additional information on Graph Blockchain and other corporate information, please visit the Company website at

For further information, please contact:

Paul Haber, C.P.A., C.A., C.Dir
Chief Executive Officer, and Chairman
Graph Blockchain Inc.
Phone: (416) 318-6501

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.

Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Forward-looking information in this news release are based on certain assumptions and expected future events. These statements involve known and unknown risks, uncertainties, and other factors, which may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the risks associated with the blockchain in general. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.


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