Toronto, Ontario–(Newsfile Corp. – December 7, 2023) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the “Company” or “Datametrex”) is pleased to announce it has closed the previously announced (see Press Release from November 14, 2023) sale of its subsidiary, DataMetrex Electric Vehicle Solutions Inc. (“DMEVS”) to Graph Blockchain Inc. (CSE: GBLC) (OTC Pink: REGRF) (FSE: RT50) (“Graph Blockchain”).
Pursuant to an agreement dated November 13, 2023, Graph Blockchain has acquired DMEVS from Datametrex for an aggregate purchase price of up to $3,750,000, consisting of shares and cash Earn-Out Payments.
Graph Blockchain has issued to Datametrex 15,000,000 common shares at a deemed price of $0.05 per share. In addition, Datametrex’s opportunity to receive up to $3,000,000 in cash Earn-Out Payments is contingent upon DMEVS’s fulfillment of certain post-closing performance metrics over three (3) years. These Earn-Out…
