Datametrex Completes Acquisition of Cereal Crunch Mobile Blockchain Game from Sariel Diagnostics

Rhea-AI Summary

Datametrex AI has completed the acquisition of the mobile blockchain game Cereal Crunch from Sariel Diagnostics Corp. for $3.5 million. The deal includes game software, IP, user databases, the Crunch Token, and $150,000 in cash. Cereal Crunch features match-3 mechanics and a play-to-earn model rewarding players with cryptocurrency. The payment was made through the issuance of 70,000,000 common shares of Datametrex at $0.05 per share. This acquisition aligns with Datametrex's strategic focus on innovative technologies in e-gaming and blockchain sectors. All issued shares are under a statutory hold period of four months and one day.

Positive

• Datametrex acquires a mobile blockchain game, Cereal Crunch, enhancing its portfolio with innovative technology.
• The acquisition includes valuable assets: game software, intellectual property, user databases, and the Crunch Token.
• Cereal Crunch’s play-to-earn model offers potential for significant user engagement and growth.
• Acquisition price includes $150,000 in cash, bolstering liquidity.
• Strategic alignment with emerging sectors of e-gaming and blockchain could drive enhanced market presence.

Negative

• The acquisition was made for $3.5 million through the issuance of 70,000,000 shares, potentially causing shareholder dilution.
• All issued shares are subject to a statutory hold period, potentially delaying liquidity for investors.
• The acquisition requires final acceptance by the TSX Venture Exchange, posing a regulatory risk.

Toronto, Ontario--(Newsfile Corp. - May 28, 2024) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink: DTMXF) (the "Company" or "Datametrex") is pleased to announce that further to its press release dated April 8, 2024, the Company completed the arm's length acquisition of the mobile blockchain game Cereal Crunch from Sariel Diagnostics Corp. ("Sariel"). The deal was closed following the signing of a Definitive Agreement dated May 9, 2024.

Key Acquisition Details

Asset Highlights: Datametrex acquires all assets related to Cereal Crunch, including the game software, intellectual property, user databases, and the Crunch Token, which is integral to the game's play-to-earn model, as well as roughly $150,000 in cash.

Purchase Price: The acquisition was finalized for a total value of $3,500,000, comprising 70,000,000 common shares of Datametrex issued at a deemed price of $0.05 per share.

Gaming Innovation: With match-3 mechanics and a play-to-earn model rewarding players in cryptocurrency, Cereal Crunch uniquely blends gaming entertainment with the potential for crypto earnings.

Charles Park, President of Datametrex, commented, "The acquisition of Cereal Crunch aligns perfectly with our strategic focus on innovative technologies. We are excited to bring Cereal Crunch into our portfolio, offering immense potential for growth and success in this emerging sectors of e-gaming and blockchain."

John Karagiannidis, President of Sariel Diagnostics Corp., stated, "This acquisition signifies a major milestone for Sariel, validating our hard work on Cereal Crunch. Datametrex is the ideal partner to lead the game's development to new heights."

All of the common shares issued in connection with acquisition are subject to a statutory hold period of four months and one day. The issuance is being conducted on an expedited basis pursuant to the policies of the TSX Venture Exchange and is subject to final acceptance by the TSX Venture Exchange. The transaction was negotiated at arm's length and no new insider of Datametrex has been created as a result of the closing of the acquisition.

About Datametrex

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

About Sariel

Sariel is a pioneering crypto and AI technology company committed to investing in and building play-to-earn blockchain games and advanced AI solutions.

For more on Sariel, please visit the 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

This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Datametrex's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Such statements include those relating to game development and the Company's expectations and plans. Although Datametrex believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; future legislative and regulatory developments in the blockchain sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mobile video game industry and markets in Canada and generally; the ability of Datametrex to implement its business strategies; competition; and other assumptions, risks and uncertainties. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in Datametrex's management's discussion and analysis for the year ended December 31, 2023 which is available on Datametrex's profile at http://www.sedarplus.ca.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

We seek Safe Harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210724

FAQ

What did Datametrex acquire from Sariel Diagnostics Corp.?

Datametrex acquired the mobile blockchain game Cereal Crunch, including game software, intellectual property, user databases, and the Crunch Token.

What is the value of the Datametrex acquisition of Cereal Crunch?

The acquisition was valued at $3.5 million, paid through the issuance of 70,000,000 common shares at $0.05 per share.

What type of game is Cereal Crunch?

Cereal Crunch is a mobile blockchain game featuring match-3 mechanics and a play-to-earn model rewarding players in cryptocurrency.

What are the terms of the shares issued for the acquisition of Cereal Crunch?

The 70,000,000 common shares issued for the acquisition are subject to a statutory hold period of four months and one day.

What sectors does the Cereal Crunch acquisition align with for Datametrex?

The acquisition aligns with Datametrex's focus on innovative technologies in the e-gaming and blockchain sectors.

What is the risk associated with the shares issued in the acquisition?

The shares issued are subject to a statutory hold period and require final acceptance by the TSX Venture Exchange, posing liquidity and regulatory risks.