TORONTO, Jan. 28, 2019 (GLOBE NEWSWIRE) -- Andrew Ryu, Chief Executive Officer of Datametrex AI Limited (the “Corporation”), announces that, in connection with his participation in the first tranche of a non-brokered private placement of units of the Corporation, having its head office at 2161 Yonge Street, Suite 210, Toronto, Ontario, Canada, M4S 3A6 that closed on January 25, 2019, he has increased his beneficial ownership and control over the Corporation’s issued and outstanding common shares (“Shares”) by approximately an additional 2% (the “Transaction”). Mr. Ryu now holds (directly and indirectly) and controls approximately 9.16% of the total issued and outstanding Shares on an undiluted basis, and 14.7% on a diluted basis.
Immediately prior to the Transaction, Mr. Ryu held (directly and directly) and controlled a combined 14,441,650 Shares, which represented approximately 7.2% of the issued and outstanding Shares on an undiluted basis. As a result of the Transaction, Mr. Ryu now holds (directly and indirectly) and controls a combined 20,441,650 Shares, representing approximately 9.16% of the issued and outstanding Shares on an undiluted basis. There were 223,717,925 Shares issued and outstanding immediately following the completion of the private placement.
Mr. Ryu acquired 6,000,000 units at the private placement offer price of $0.05 per unit for aggregate cash consideration of $300,000.00. Each such unit was comprised of one Share and one common share purchase warrant (“Warrant”) with each such Warrant exercisable into one Share at a price of $0.08 for a period of 18 months following the closing date. The private placement was previously announced by the Corporation on January 7, 2019.
This press release is issued pursuant to National Instrument 62-103 – The Early Warning Reporting System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will be available on the Corporation’s SEDAR profile and may also be obtained by contacting the Corporation or Andrew Ryu or Jeff Stevens at 416-482-3282.