Datametrex Rules Out Reverse Stock Split

Rhea-AI Summary

Datametrex AI Limited announces no plans for a reverse stock split, emphasizing transparency and shareholder interests. CEO Charles Park confirms the company's commitment to growth and value creation.

Toronto, Ontario--(Newsfile Corp. - February 26, 2024) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") today announced that it has no plans to implement a reverse stock split (AKA share consolidation), in response to investor inquiries. This clarification comes as part of the company's ongoing commitment to transparent and strategic decision-making in the best interests of its shareholders and the Company's long-term objectives.

In keeping with corporate governance practices, Datametrex reaffirms that any future consideration of a reverse stock split would be subject to a special resolution, necessitating approval from the shareholders at the Annual General Meeting ("AGM") with at least a two-thirds approval.

Charles Park, CEO of Datametrex, addressed the matter, stating, "We want to assure our investors that a reverse stock split is not on our agenda this year. Our focus remains steadfast on pursuing growth and enhancing shareholder value. Any significant future corporate actions will be communicated clearly and involve our shareholders, as they are integral to our decision-making process."

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 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/199103

FAQ

Is Datametrex AI Limited planning a reverse stock split?

No, Datametrex AI Limited has announced that it has no plans to implement a reverse stock split.

What is the CEO's stance on the reverse stock split?

CEO Charles Park stated that a reverse stock split is not on the agenda for this year, focusing on growth and shareholder value.

What approval is needed for a reverse stock split at Datametrex AI Limited?

Any future consideration of a reverse stock split would require approval from shareholders at the Annual General Meeting with at least a two-thirds majority.