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Datametrex Announces Share Consolidation
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Datametrex Announces Share Consolidation
TORONTO, ON / ACCESS Newswire / February 6, 2025 / Datametrex AI Limited (the "Company" or "Datametrex") (TSXV:DM)(FSE:D4G)(OTCQB:DTMXF) announces a proposed consolidation of its common shares on the basis of one (1) new common share for every existing thirty (30) common shares (the "Consolidation"), subject to regulatory approval, including approval of the TSX Venture Exchange (the "TSXV"). The Consolidation was approved by the shareholders of the Company at the Annual and Special Meeting held on November 13, 2024.
The management believes that the Consolidation is necessary to optimize the capital structure of the Company and to attract financing. Subject to approval of the TSXV, the Consolidation is anticipated to be completed in the immediate future. Where the exchange results in a fractional share, any fractional share that is less than 1/2 of one post-consolidation Common Share will be cancelled and each fractional share that is at least 1/2 of one post-consolidation Common Share will be rounded up to one whole post-consolidation Common Share. The Company's new ISIN number will be CA23809L2075. The Company will not undergo a name change at the time of Consolidation. Accordingly, the trading symbol of the Company's common shares on the TSXV will remain as "DM".
A letter of transmittal will be mailed to registered shareholders providing instructions on how to exchange share certificates representing pre-Consolidation Shares for new share certificates or direct registration advice statements (DRS) representing post-Consolidation Shares to which they are entitled as a result of the Consolidation. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to effect the Consolidation.
As on date, there are 630,080,158 pre-Consolidation shares outstanding. Following the Consolidation, there are expected to be 21,002,671 post-Consolidation shares outstanding.
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 Company website.
For Additional Information
Paul Haber, C.P.A., C.A., C. Dir
CEO & Chairman
[email protected]
(416) 318-6501
Disclaimer
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Statements
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Forward-looking information in this press release includes, but is not limited to, expectations regarding the Consolidation, the new ISIN of the Company being effective as of the expected effective date, and the Company receiving regulatory approvals to complete the Consolidation. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
SOURCE: DataMetrex AI Ltd.
View the original press release on ACCESS Newswire
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