Datametrex AI Limited (TSXV:DM) completed the acquisition of Ronin Blockchain Corp. from Stanley Park Ventures Ltd, Ironport Blockchain Financial Inc., Oak Mason Investments Inc. and 0718512 BC Ltd.
January 15, 2018
Share
Datametrex AI Limited (TSXV:DM) (‘Datametrex ‘) entered into a binding letter of intent to acquire Ronin Blockchain Corp. (‘Ronin’) from Stanley Park Ventures Ltd, Ironport Blockchain Financial Inc., Oak Mason Investments Inc. and 0718512 BC Ltd. for CAD 10 million on December 14, 2017. Datametrex signed the purchase agreement to acquire Ronin Blockchain Corp. for CAD 13.6 million on January 15, 2018. Pursuant to the terms, the proposed consideration for the transaction is an aggregate amount of CAD 10 million payable in common shares in the capital of the corporation as follows; CAD 7.5 million of shares will be issued at the closing of the transaction at a deemed price of CAD 0.25 per share, of which 50% of this amount will be issued to Ronin on the closing of the transaction, 25% of this amount will be issued to Ronin within three months from the closing date of the transaction and the remaining 25% will be issued to Ronin within 6 months from the closing date of the transaction. In addition, CAD 2.5 million of shares will be issued on the first anniversary from the closing date of the transaction. As on January 16, 2018, Datametrex revised the terms and were as follows: Datametrex will issue 22 million common shares at CAD 0.25 per share and make a payment of CAD 2 million in cash at closing. Also, Datametrex will issue CAD 2.5 million of shares common shares on or before the first anniversary of the closing date of the transaction, which will be issued at a price per share equal to the volume weighted average price of the Datametrex ‘s shares. Post-acquisition, Ronin will operate as a wholly-owned subsidiary of Datametrex.
The transaction is subject to the approval of the TSX Venture Exchange and certain conditions, including satisfactory due diligence. The transaction is anticipated to close on or before January 12, 2018 with a definitive purchase agreement being entered into on or before January 9, 2018.
Datametrex AI Limited (TSXV:DM) completed the acquisition of Ronin Blockchain Corp. from Stanley Park Ventures Ltd, Ironport Blockchain Financial Inc., Oak Mason Investments Inc. and 0718512 BC Ltd. on January 16, 2018.
Datametrex AI Limited is a technology-focused company with exposure to artificial intelligence, healthcare, and mobile gaming. It is focused on collecting, analyzing and presenting structured and unstructured data using machine learning and artificial intelligence. The Company's products include AnalyticsGPT, Cyber Security, and Healthcare. AnalyticsGPT platform scans vast data streams from social media, news, blogs, forums, messengers, enterprise data, and the dark Web, creating predictive analytics. Cyber Security is a deep analytics platform that captures, structures, and visualizes vast amounts of unstructured social media data, which is used as a discovery tool that allows organizations to make decisions. It offers Nexa Products, which consists of NexaSecurity and NexaSMART. Healthcare consists of Imagine Health Centres, a multidisciplinary healthcare facility, and Medi-Call, a telehealth platform. The Company also offers a mobile blockchain game, Cereal Crunch.
Datametrex AI Limited (TSXV: DM) completed the acquisition of Ronin Blockchain Corp. from Stanley Park Ventures Ltd, Ironport Blockchain Financial Inc., Oak Mason Investments Inc. and 0718512 BC Ltd.