Datametrex Provides Update on Ronin
Toronto, Ontario--(Newsfile Corp. - February 2, 2021) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink: DTMXF) (the "Company" or "Datametrex") is pleased to announce today that the board has completed its strategic review of Ronin Blockchain Corp. ("Ronin").
As a result of favourable cryptocurrency market, the Company has determined that it would be in the best interest of all stakeholders of Datametrex to reactivate Ronin by spinning off and raising funds directly into Ronin.
The above actions are subject to a number of approvals including the TSX Venture Exchange, plan of arrangement to spin the entity out to our shareholders, and potentially shareholders approval. Datametrex will continue to provide updates to the market as the process progresses including information about the structure of the financing and transaction.
Datametrex AI Limited is a technology-focused 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
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.
Forward Looking Statements:
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. Forward looking statements include those relating to the reactivation of Ronin, raising funds, spinning off of crypto mining operations, TSX Venture Exchange approval and potential Company shareholder approval. 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 are risks associated with determining a structure for the transaction, uncertainty related to terms of any financing, obtaining necessary TSX Venture Exchange, shareholder and other regulatory approvals for any transaction, instabilities related to crypto mining in general and the volatility of crypto currency prices. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73212