Andrew Ryu Files Early Warning Report

CBJ Newsmakers

TORONTO, Jan. 20, 2019 (GLOBE NEWSWIRE) — Andrew Ryu announces that, through a series of dispositions on January 17, 2019 and January 18, 2019, he has disposed ownership of a total of 6,000,000 common shares of Datametrex AI Limited (“Shares”), having its head office at 2161 Yonge Street, Suite 210, Toronto, Ontario, Canada, M4S 3A6 (the “Corporation”), representing approximately 2.98% of the Corporation’s total issued and outstanding common shares, on a non-diluted basis (the “Transaction”).

Prior to the Transaction, Mr. Ryu held 14,401,000 Shares directly, another 5,400,000 Shares indirectly through Seinecliffe Management Ltd. and controlled 640,650 Shares through his spouse, for a combined total of 20,441,650 Shares, which represented approximately 10.14% of the issued and outstanding Shares on an undiluted basis. As a result of the Transaction, Mr. Ryu now holds 9,301,000 Shares directly, 4,500,000 Shares indirectly through Seinecliffe Management Ltd. and controls another 640,650 Shares through his spouse, for a combined total of 14,441,650 Shares representing approximately 7.16% of the issued and outstanding Shares on an undiluted basis. There were 201,673,925 Shares issued and outstanding as of the date of each disposition noted above.

The common shares were sold for cash consideration in the amount of $240,000.00 as follows:

Date Number of Common Shares Sold Price per Common Share Consideration
January 17, 2019 4,100,000 $0.04 $164,000.00
January 17, 2019 900,000 $0.04 $36,000.00
January 18, 2019 1,000,000 $0.04 $40,000.00

Mr. Ryu completed the Transaction for liquidity purposes and may, in the future, acquire or dispose of additional securities of the Corporation, through the market or otherwise, as circumstances or market conditions warrant. Separately, Mr. Ryu intends to participate in the proposed non-brokered private placement of units of the Corporation previously announced on January 7, 2019, whereby each such unit is being offered at $0.05 per unit (the “Proposed Private Placement”). Currently, Mr. Ryu intends to invest approximately $250,000 in the Proposed Private Placement.

This press release is issued pursuant to National Instrument 62-103 – The Early Warning Reporting System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will be available on the Corporation’s SEDAR profile and may also be obtained by contacting the Corporation or Andrew Ryu or Jeff Stevens at 416-482-3282.

Recommended