TORONTO, Oct. 31, 2019 – Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G) today held its annual and special meeting. At the meeting Andrew Ryu, Charles Schade, Janeen Stodulski, David Ellison and John McMullen were elected as directors of the Company and KPMG were appointed as auditors for the Company. Additionally, the Company’s 10% rolling stock option plan was re-approved and confirmed and shareholders passed a special resolution to change the name of the Company from Datametrex AI Limited to Nexalogy AI Limited. The Company’s name will not be changed until the Company files articles of amendment and obtains the necessary regulatory approvals.
In the management information circular that accompanied the notice of the meeting, management had proposed a consolidation of the Company’s common shares on the basis of up to 8 to 1 (the “Share Consolidation”). Before the conclusion of the meeting, a motion was put forward to adjourn the meeting until November 15 to give the board of directors time to consider whether it wished to continue to pursue the Share Consolidation or not. The motion put forward to adjourn the meeting was carried and the annual and special meeting of shareholders has been adjourned to November 15, 2019 at 4:30 p.m. at offices of MNP at 111 Richmond Street West, Suite 300,Toronto, Ontario M5H 2G4.
Datametrex AI Limited is a technology focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com).
For further information, please contact:
Jeff Stevens – President
Phone: (416) 482-3282
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.