Datametrex Completes Financial Obligations Following Litigation Settlement

Rhea-AI Summary

Datametrex AI (TSXV:DM, OTC PINK:DTMXF) has successfully completed its financial obligations related to a litigation settlement. The company issued common stock shares at $0.05 per share to settle a debt of $750,000. The shares issued are fully paid and non-assessable, effectively concluding the company's settlement obligations. CEO Paul Haber expressed satisfaction with fulfilling these commitments and thanked stakeholders for their support.

Positive

• Settlement of $750,000 debt obligation through share issuance
• Complete resolution of litigation-related financial obligations

Negative

• Shareholder dilution due to new share issuance at $0.05 per share
• Settlement-related expenses impacting company's financial position

TORONTO, ON / ACCESSWIRE / November 13, 2024 / Datametrex AI Limited (the "Company" or "Datametrex") (TSXV:DM)(FSE:D4G)(OTC PINK:DTMXF) is pleased to announce that it has successfully fulfilled and completed its financial obligations arising from the litigation settlement between the Company and certain parties. In accordance with the settlement terms, Datametrex has issued shares of its common stock to resolve outstanding debt, effectively concluding the Company's obligations under the agreement.

As part of the settlement, Datametrex committed to issued fully paid and non assessable shares at a deemed issue price of $0.05 per share, which satisfies a debt obligation of an aggregate amount $750,000. The Company is pleased to report that all obligations have been fulfilled, aligning with the Company's commitment to maintaining its financial position.

Paul Haber, CEO of Datametrex, commented, "We are pleased to announce that we have fulfilled our obligations and met our financial commitments. We extend our gratitude to our stakeholders for their continued support and remain committed 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
Paul Haber, C.P.A., C.A., C.Dir
CEO & Chairman
info@datametrex.com
(416) 318-6501

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.

View the original press release on accesswire.com

FAQ

How much debt did Datametrex (DTMXF) settle through share issuance in November 2024?

Datametrex settled a debt obligation of $750,000 through the issuance of shares at $0.05 per share.

What was the share price for Datametrex's (DTMXF) settlement-related stock issuance?

The shares were issued at a deemed price of $0.05 per share.

Has Datametrex (DTMXF) completed all its litigation settlement obligations?

Yes, Datametrex has successfully fulfilled and completed all its financial obligations arising from the litigation settlement.