Datametrex Completes VTB Obligation for Imagine Health Acquisition

Rhea-AI Summary

Datametrex AI (TSXV:DM, FSE:D4G, OTC Pink:DTMXF) has successfully completed its vendor take-back (VTB) obligation for the acquisition of Imagine Health Centres. The company fulfilled a secured VTB note of $800,000, payable in installments over 6, 12, and 18 months, as outlined in their November 30, 2022 news release. This achievement demonstrates Datametrex's commitment to its financial obligations and ongoing support for Imagine Health's growth. CEO Charles Park emphasized that this strategic investment aligns with the company's broader vision to enhance access to quality healthcare services across Canada.

Positive

• Successful completion of $800,000 VTB obligation for Imagine Health acquisition
• Timely fulfillment of financial commitments demonstrates financial stability
• Strategic investment in healthcare sector aligns with company's growth vision

Negative

• None.

TORONTO, ON / ACCESSWIRE / September 3, 2024 / Datametrex AI Limited (the "Company" or "Datametrex") (TSXV:DM)(FSE:D4G)(OTC Pink:DTMXF) is pleased to announce that it has successfully fulfilled and completed its vendor take-back (VTB) obligation related to the acquisition of Imagine Health Centres ("ImagineHealth"), as outlined in the Company's previous news release, dated November 30, 2022.

As part of the acquisition, Datametrex committed to a secured VTB note with a principal amount of $800,000, payable in installments over 6, 12, and 18 months. The Company is pleased to report that all payments have been made in full, demonstrating the Company's commitment to its obligations and its ongoing support for the growth and success of Imagine Health.

Charles Park, CEO of Datametrex, commented, "We are proud to have met our financial commitments to Imagine Health, which underscores our dedication to the success of our acquisitions and the growth of our healthcare portfolio. Our strategic investment in Imagine Health is part of our broader vision to enhance access to quality healthcare services across Canada, and we look forward to continuing to support Imagine Health as they expand their offerings and reach more patients."

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.

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 "forward-looking statements," which involve risks, uncertainties, and factors that could cause actual results to differ materially from those anticipated. These statements are not historical facts and are generally identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," and similar expressions. Such statements include expectations related to game development and other Company plans.

While Datametrex believes the forward-looking information is reasonable as of the date of this release, these statements involve assumptions, risks, and uncertainties that could cause actual outcomes to differ. Key factors include general economic conditions, legislative and regulatory developments, access to capital, industry competition, and the Company's ability to execute its strategies. The Company does not undertake to update these statements, except as required by law. Readers are advised not to place undue reliance on forward-looking information.

Factors that could cause actual results to differ materially are detailed under "Risk Factors" in Datametrex's management's discussion and analysis for the year ended December 31, 2023, available on the Company's profile at www.sedarplus.ca.

This release does not constitute an offer to sell or a solicitation to buy, nor shall it constitute an offer, solicitation, or sale in any jurisdiction where such would be unlawful prior to registration or qualification under applicable securities laws. We seek Safe Harbor.

SOURCE: Datametrex AI Limited

View the original press release on accesswire.com

FAQ

What was the value of the vendor take-back note for Datametrex's acquisition of Imagine Health?

The vendor take-back (VTB) note for Datametrex's acquisition of Imagine Health had a principal amount of $800,000.

When did Datametrex complete the VTB obligation for Imagine Health acquisition?

Datametrex completed the VTB obligation for the Imagine Health acquisition on September 3, 2024, as announced in their press release.

What is the stock symbol for Datametrex AI on the OTC markets?

Datametrex AI trades under the symbol DTMXF on the OTC Pink market.

How does the completion of the VTB obligation affect Datametrex's healthcare strategy?

The completion of the VTB obligation reinforces Datametrex's commitment to expanding its healthcare portfolio and enhancing access to quality healthcare services across Canada.