Datametrex AI Limited announces that its subsidiary, Canntop AI Inc. will no longer be issuing an aggregate of 4,000,000 common shares to certain directors, officers and employees of the Company and its subsidiaries at a nominal value nor an aggregate of 1,600,000 stock options under its stock option plan to certain directors, officers and employees of the Company.
Canntop will carry out an arm’s length private placement of up to 8,000,000 common shares (“Canntop Shares”) at a price of $0.25 per Canntop Share for gross proceeds of $2,000,000; provided that Canntop may increase the size of the offering to meet investor demand (the “Over-allotment Option”).
Following the issuance of the Canntop Shares, Canntop will have 24,000,000 Canntop Shares issued and outstanding (not including the Over-allotment Option”) and Datametrex will hold 16,000,000 Canntop shares representing 66.67% of the total number of issued and outstanding Canntop Shares on a non-diluted basis.
Datametrex AI Limited is a technology focused company with exposure to four exciting verticals. Big Data, collecting data from retail point of sales environments. Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy. Implementing Blockchain technology for secure Data Transfers through its joint venture company, Graph Blockchain. Industrial scale Cryptocurrency Mining through its wholly owned subsidiary, Ronin Blockchain Corp.