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Datametrex AI (TSXV:DM) has announced an update on the process for Graph Blockchain through a reverse takeover with REg Technologies. As quoted in the press release: As previously announced on June 1, 2018, Graph and RegTech entered into a Letter of Intent to effect an RTO, which would result in RegTech acquiring all the issued …
Datametrex AI (TSXV:DM) has announced an update on the process for Graph Blockchain through a reverse takeover with REg Technologies.
As quoted in the press release:
As previously announced on June 1, 2018, Graph and RegTech entered into a Letter of Intent to effect an RTO, which would result in RegTech acquiring all the issued and outstanding securities of Graph, furthermore giving Graph a pre-financing valuation of over C$39 Million.
To-date, the RTO process has been moving forward as expected and a number of milestones have been achieved. Most notably, RegTech has filed their Information Circular with the respective US and Canadian transfer agents. Additionally, in relation to the RTO, RegTech has announced and filed on SEDAR (www.sedar.com) their Annual General and Special Meeting for September 17, 2018.
With the positive continuation of the RTO process and in anticipation of the closing, as previously announced, Graph intends to begin marketing its concurrent private placement of common shares at a price of C$0.30 per common share within the next week.
“There are many moving parts when looking at the RTO process, and it’s always great when it all comes together, and things stay on track with projected timelines. A lot of diligent work is being put in by both Graph and RegTech to ensure that we are maximizing value for our shareholders, and I’m excited as we enter the home stretch of listing the company,” says Peter Kim, President and COO of Graph.
