TORONTO, Oct. 02, 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”), an associate company of Datametrex, via a reverse-takeover (“RTO”) with Reg Technologies Inc. (“RegTech”).
On September 28, 2018, RegTech was granted full revocation from the British Columbia Securities Commission (“BCSC”), of its previously issued failure-to-file cease trade order. For the RTO, this is a major milestone in moving towards the completion of the process, paving the way for Graph and RegTech to finalize the Definitive Agreement, and allowing the proposed amalgamation to keep with the planned timeline.
“Our team was thrilled to receive the letter from the BCSC this past Friday, and while this positive outcome was anticipated, having the CTO lifted now allows our companies to drive the RTO forward,” said Paul Chute, CEO of RegTech.
“We are pleased with the news and commend the hard work and dedication of the RegTech team. By getting the full revocation we continue to stay on schedule, and the excitement is building as we reach the final stages in the process,” said Peter Kim, President and COO of Graph.
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). The company develops cutting-edge private blockchain business intelligence and data management solutions. Graph’s powerfully unique solution has translated into a high growth trajectory, with the company securing multiple contracts with multi-national conglomerates, and the opportunity to sell across client verticals/subsidiaries as a full enterprise product, as well as globally to new clients as a tested and proven product.
For further information, please contact:
Peter Kim – President & COO
Phone: (647) 465-3647
Email: pkim@graphblockchain.com
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 its securities are not currently listed on any Canadian stock exchange.
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 the proposed reverse take-over transaction. 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.