Datametrex Announces Intention to Spin-out Healthcare Division

Rhea-AI Summary

Datametrex AI Limited is considering a possible spin out of its healthcare division to focus on its AI businesses. The spin-out will allow the company to sharpen its focus and pursue new opportunities while empowering its healthcare division to establish itself further in the healthcare space.

Positive

• Datametrex is positioning itself for continued growth and expansion by separating its healthcare division and establishing an independent entity. This strategic move will enable both entities to thrive and excel in their respective fields.

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - July 6, 2023) -  Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex'') is pleased to announce it is considering a possible spin out of its healthcare division with a distribution of shares to existing Datametrex shareholders.

This strategic move represents the Company's vision to focus on its AI businesses. By divesting its healthcare division, Datametrex will focus on its core operations in AI, GPT, and EV technologies, enabling the Company to drive innovation and excel in these cutting-edge fields.

Simultaneously, a new healthcare-focused entity can direct its undivided attention towards delivering exceptional healthcare services, ensuring the highest standards of patient care and wellness. Management believes this strategic separation will empower both entities to maximize their respective potentials and achieve success in their specialized areas.

A spin-out of medical assets will allow the Company to sharpen its focus and pursue new opportunities while empowering its healthcare division to establish itself further in the healthcare space. The healthcare division includes Medi-Call Inc. ("Medi-Call"), Imagine Health Medical Clinics Ltd., Imagine Health Pharmacies & Research Ltd., and Imagine Health Physio Ltd. The Company will issue further news releases updating the market on the proposed spin-out transaction.

"The proposed spin-out marks an exciting chapter for Datametrex as we position the Company for continued growth and expansion. By separating our healthcare division and establishing an independent entity, we can better serve the needs of our customers and deliver enhanced value to our shareholders. We believe this strategic move will enable both entities to thrive and excel in their respective fields", said Marshall Gunter, CEO of the Company.

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

Priya Monique Atwal, Director of Communications
Email: investors@datametrex.com
Tel: 416-901-5611 x 204

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, including but not limited to the proposed spin-out transaction. 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/172408

FAQ

What is Datametrex considering?

Datametrex is considering a possible spin out of its healthcare division.

What will the spin-out allow the company to do?

The spin-out will allow the company to sharpen its focus and pursue new opportunities.

What is the goal of the spin-out?

The goal of the spin-out is to empower the healthcare division to establish itself further in the healthcare space.

Who will benefit from the strategic separation?

Both entities, the AI-focused company and the healthcare-focused entity, will benefit from the strategic separation.