Datametrex Provides Update on Graph Blockchain Going Public

Datametrex AI ( TSXV:DM) has announced an update on Graph Blockchain’s process on going public through a reverse takeover with Reg Technologies.

As quoted in the press release:

In continuation of the RTO process, on September 4 2018, Graph held a Special Shareholders’ Meeting to approve the proposed amalgamation with a wholly-owned subsidiary of RegTech, along with the share split to effect a 1:1 ratio on the amalgamation.  Graph management is thrilled to announce that both motions passed with overwhelming support and approval from shareholders.

Graph Blockchain Concurrent Private Placement

Graph is pleased to announce a concurrent non-brokered private placement of up to 13,333,333 units (each a “Unit”) at a price of $0.30 per Unit, for gross proceeds of up to $4,000,000 (the “Offering”).

Each Unit consists of one common share in the capital of Graph and one common share purchase warrant of Graph, with each warrant exercisable into one common share at a price of $0.40 for a period of 18 months after closing of the Offering (the “Warrant Expiry Date”). In the event that the volume-weighted average trading price of the common shares on the Canadian Securities Exchange equals or exceeds $0.45 per common share for any period of 15 consecutive trading days, the Company may, at its option, within 10 business days following such 15-day period, accelerate the Warrant Expiry Date by issuing a press release (a “Warrant Acceleration Press Release”), and, in such case, the Warrant Expiry Date shall be deemed to be 5:00 p.m. (Toronto time) on the 15th day following the issuance of the Warrant Acceleration Press Release.

Click here to read the full press release.