Business
Datametrex Announces Extension and Closing of the Second Tranche of Its Non-Brokered Private Placement Financing
Toronto, Ontario--(Newsfile Corp. - July 30, 2024) - Datametrex AI Limited (TSXV: DM) (FSE: D4G)...
About this update from Datametrex Ai Ltd.
[{"type":"text","content":"\nDatametrex Announces Extension and Closing of the Second Tranche of Its Non-Brokered Private Placement FinancingToronto, Ontario--(Newsfile Corp. - July 30, 2024) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink: DTMXF) (the \"Company\" or \"Datametrex\") is pleased to announce that it has been granted an extension to complete its previously announced (June 13, 2024, and July 3, 2024) non-brokered private placement of up to 75,000,000 units (\"Units\") for total gross proceeds of up to $1,500,000 (the \"Private Placement\"). The extension is for 30 days, with a new deadline of August 29, 2024. Each Unit comprises one common share in the capital of the Company (each, a \"Common Share\") and one common share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to purchase one additional common share at an exercise price of CAD $0.05 for a period of two (2) years from the date of issuance.The Company successfully closed the first tranche of the Private Placement, consisting of 32,275,000 Units ($645,000), on July 3, 2024. Additionally, Datametrex is pleased to announce the closing of the second tranche, raising gross proceeds of $311,409.29 through the issuance of 15,570,465 Units at a price of $0.02 per Unit. No finder's fees were incurred in connection with this financing.In connection with the Private Placement, the Company may pay finders' fees amounting to up to 8% in cash and 8% in broker warrants of the total proceeds raised. The net proceeds from the Private Placement will be used for general corporate and working capital purposes. The Common Shares and Warrants issued pursuant to the Private Placement will be subject to a four-month and one-day hold period required under applicable securities laws. The Private Placement is subject to acceptance by the TSX Venture Exchange.Charles Park, CEO of the Company, commented, \"We are very pleased with the progress of our private placement financing. The strong support from our investors underscores their confidence in our strategic vision and operational capabilities. This funding will be instrumental in advancing our corporate initiatives and driving growth. We remain committed to delivering value to our shareholders and achieving our business objectives.\"The securities offered have not been registered under the United States Securities Act of 19...