Datametrex Announces Disposition of Shares of New World Solutions Inc.

Rhea-AI Summary

Datametrex AI Limited (DTMXF) announces the sale of 3,928,936 common shares of New World Solutions Inc. at an average price of $0.06 per share, resulting in proceeds of approximately $240,040.14. The company's ownership in New World decreased from 18.33% to 14.53% after the disposition.

Toronto, Ontario--(Newsfile Corp. - March 5, 2024) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") announces that it has filed an early warning report (the "Early Warning Report") pursuant to the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the sale by the Company, through the facilities of the Canadian Securities Exchange, of an aggregate of 3,928,936 common shares ("Shares") of New World Solutions Inc. (CSE: NEWS) ("New World") at an average price of $0.06 per Share, for an aggregate proceeds of approximately $240,040.14 (the "Disposition").

Prior to the Disposition, Datametrex held 18,928,936 Shares of New World, representing approximately 18.33% of New World's outstanding common shares. After the Disposition, Datametrex holds 15,000,000 Shares of New World representing approximately 14.53% of New World's outstanding common shares, representing a decrease of 3.8% on an undiluted basis.

The Shares disposed of pursuant to the Disposition were sold for investment purposes. The remaining Shares owned by the Company are held for investment purposes. The Company may, depending on price, market conditions or other conditions or factors it considers relevant from time to time, increase or decrease its ownership over Shares or other securities of New World through market transactions, private agreements or otherwise.

The above referenced Early Warning Report relating to this press release has been filed on System for Electronic Document Analysis and Review + (SEDAR+) at www.sedarplus.ca under Datametrex's issuer profile. For further information or to obtain a copy of the early warning report, please contact: Charles Park, CEO, Email: cpark@datametrex.com, Tel: (416) 901-5611 x 203.

About Datametrex

Datametrex is an innovative leader in Technology Solutions, Artificial Intelligence, and Healthcare. 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:

Charles Park, CFA
Chief Executive Officer & Director
cpark@datametrex.com
(416) 901-5611 x203

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

All statements in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200568

FAQ

How many common shares did Datametrex sell of New World Solutions Inc.?

Datametrex sold 3,928,936 common shares of New World Solutions Inc.

At what price were the shares sold by Datametrex?

The shares were sold at an average price of $0.06 per share.

What was the total proceeds from the sale of shares by Datametrex?

The total proceeds from the sale of shares amounted to approximately $240,040.14.

How much did Datametrex's ownership in New World decrease by?

Datametrex's ownership in New World decreased from 18.33% to 14.53% after the disposition.

What was the purpose of selling the shares by Datametrex?

The shares were sold for investment purposes.