Datametrex Announces Grant of Options and Stock Option Cancellation

Rhea-AI Summary

Datametrex AI Limited (TSXV: DM) Announces Grant of Incentive Stock Options and Cancellation of CEO's Options

Positive

• The Board of Directors approved the grant of incentive stock options to management, employees, advisors, and directors, demonstrating a commitment to retaining talent and aligning interests with shareholders.
• The options are exercisable at a price of $0.05 per share, vesting immediately, and will expire two years from the date of grant, providing an attractive incentive for recipients.
• The cancellation of 4,000,000 options previously granted to the CEO at a higher exercise price indicates a strategic decision to streamline and optimize the company's equity structure.

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - November 13, 2023) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex'') is pleased to announce that the Board of Directors has approved the grant of incentive stock options to management, employees, advisors, and directors of the Company to purchase up to 24.5 million common shares in the capital of the Company. The options are exercisable at a price of $0.05 per share, vesting immediately, and will expire two years from the date of grant.

The options are granted pursuant to the Company's stock option plan which was most recently approved by shareholders at the Company's annual general meeting held on July 29, 2022, and remain subject to approval of the TSX Venture Exchange.

Additionally, the Company has cancelled an aggregate of 4,000,000 options to purchase common shares of the Company, which were previously granted to the CEO Marshall Gunter, at an exercise price of $0.08, expiring June 9, 2025.

About Datametrex

Datametrex AI Limited is a technology-focused company with exposure to artificial intelligence, machine learning, and telehealth and has recently entered the electric vehicle (EV) market. Datametrex's mission is to provide tools and solutions that support companies in fulfilling their operational goals, including health and safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through artificial intelligence and health diagnostics, the Company provides progressive solutions to support the supply chain.

For additional information on Datametrex and other corporate information, please visit the Company's website at www.datametrex.com.

To learn more about how our AI is used in Cyber Security, Telehealth and EV, visit: https://www.youtube.com/watch?v=ApFk3sWAXtg.

For further information:

Investor Relations & Communications

Marshall Gunter, CEO
Email: mgunter@datametrex.com
Tel: 514-295-2300

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 included 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/187257

FAQ

What is the announcement from Datametrex AI Limited?

Datametrex AI Limited announced the approval of incentive stock options and the cancellation of previously granted options to the CEO.

Who is eligible to purchase the common shares with the incentive stock options?

Management, employees, advisors, and directors of the Company are eligible to purchase the common shares.

At what price are the incentive stock options exercisable?

The options are exercisable at a price of $0.05 per share.

When will the incentive stock options expire?

The options will expire two years from the date of grant.

What is the significance of cancelling the CEO's options?

The cancellation indicates a strategic decision to streamline and optimize the company's equity structure.