TORONTO, Oct. 16, 2018 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G) announces common share and stock option issuances for its subsidiary, Canntop AI Inc. (“Canntop”), which has been established to focus on the global cannabis industry.
Canntop was created to use Nexalogy’s trusted and proven tool sets and unique algorithms to focus exclusively on the Cannabis industry. By gathering and analyzing vast amounts of unstructured data from social media and industry players, Canntop will be able to provide government agencies, cultivators and dispensaries with business intelligence that allows them to better understand their clients and markets in the areas of patient analysis, strain and protocol management, and quality assurance.
Canntop has issued an aggregate of 4,000,000 common shares (“Canntop Shares”) to certain directors, officers and employees of the Company and its subsidiaries at a nominal price per Canntop Share.
Canntop also granted an aggregate of 1,600,000 stock options under its stock option plan (“Canntop Options”) to certain directors, officers and employees of the Company each exercisable into one Canntop Share. The Canntop options are exercisable into Canntop Shares for a period of two years at $0.05 per share. Following the issuance of the Canntop Shares, Canntop will have 16,000,000 Canntop Shares issued and outstanding and Datametrex will hold 12,000,000 Canntop shares representing 75% of the total number of issued and outstanding Canntop Shares on a non-diluted basis.
The above issuances of Canntop Shares and grants of Canntop Options are conditional upon acceptance of the TSX Venture Exchange. Each issuance of Canntop Shares and Canntop Options to directors and officers of the Company is a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (MI 61-101). The details of the related party transaction will be set out in a material change report to be filed in connection with the transaction as required under MI 61-101.
About Datametrex
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).
About Canntop AI Inc.
Canntop AI Inc. focuses on the global cannabis industry. Canntop AI utilizes Nexalogy’s tool set and unique algorithms to analyze large unstructured data sets from the Agriculture and Cannabis space. By gathering and analyzing the data, Canntop Al is able to provide cultivators and dispensaries with business intelligence that allow them to better understand their clients and markets in the areas of patient analysis, strain and protocol management, and quality assurance.
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.