Datametrex Announces Disposition of Shares of New World Solutions Inc.

Rhea-AI Summary

Datametrex AI (TSXV: DM, FSE: D4G, OTC Pink: DTMXF) announced the sale of 4,570,000 common shares of New World Solutions Inc. (CSE: NEWS) at an average price of $0.02 per share, generating approximately $95,065 in proceeds. Before the sale, Datametrex held 11,500,000 shares, representing 11.14% of New World's outstanding shares. Post-sale, Datametrex retains 6,930,000 shares, now holding 6.71% of New World's shares—a 4.43% decrease in ownership. The sale was made for investment purposes, and the company may adjust its holdings based on market conditions.

Positive

• Generated approximately $95,065 in proceeds from the sale of shares.
• Retained a significant stake of 6.71% in New World Solutions, allowing for future investment flexibility.
• Early warning report filed in compliance with regulatory requirements, demonstrating transparency.

Negative

• Decreased ownership stake in New World Solutions from 11.14% to 6.71%, a 4.43% reduction.
• Shares were sold at a low average price of $0.02 per share, which may indicate a lack of confidence in the investment's future performance.

Toronto, Ontario--(Newsfile Corp. - May 22, 2024) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink: 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 4,570,000 common shares ("Shares") of New World Solutions Inc. (CSE: NEWS) ("New World") at an average price of $0.02 per Share, for an aggregate proceeds of approximately $95,065 (the "Disposition").

Prior to the Disposition, Datametrex held 11,500,000 Shares of New World, representing approximately 11.14% of New World's outstanding common shares. After the Disposition, Datametrex holds 6,930,000 Shares of New World representing approximately 6.71% of New World's outstanding common shares, representing a decrease of 4.43% 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.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210150

FAQ

What is the stock symbol for Datametrex AI ?

The stock symbols for Datametrex AI are TSXV: DM, FSE: D4G, and OTC Pink: DTMXF.

How many shares did Datametrex sell of New World Solutions?

Datametrex sold 4,570,000 common shares of New World Solutions.

At what price did Datametrex sell the New World Solutions shares?

Datametrex sold the shares at an average price of $0.02 per share.

What were the proceeds from the sale of New World Solutions shares?

Datametrex generated approximately $95,065 from the sale of New World Solutions shares.

What was Datametrex's ownership stake in New World Solutions before the sale?

Before the sale, Datametrex held 11.14% of New World Solutions' outstanding shares.

What is Datametrex's current ownership stake in New World Solutions after the sale?

After the sale, Datametrex's ownership stake in New World Solutions is 6.71%.

Why did Datametrex sell shares of New World Solutions?

Datametrex sold the shares for investment purposes and may adjust its holdings based on market conditions.

Where can I find the early warning report filed by Datametrex?

The early warning report can be found on the System for Electronic Document Analysis and Review + (SEDAR+) at www.sedarplus.ca under Datametrex's issuer profile.