Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") announces that its auditor, SRCO Professional Corporation (the "Former Auditor"), has resigned effective June 25, 2021, and has indicated it will no longer provide audit services to publicly traded companies.
The Company's Board of Directors and the Company's Audit Committee have accepted the resignation of the Former Auditor. The appointment of a new auditor is currently under review by Datametrex's Audit Committee and discussions have been ongoing with a potential successor auditor to fill the vacancy as required under National Instrument 51-102 - Continuous Disclosure Obligations ("NI51-102").
In accordance with NI 51-102, Datametrex has delivered a copy of a change of auditor notice (the "Notice") to the Former Auditor and the Former Auditor has provided its written response confirming that it agrees with the statements set forth in the Notice, which has been filed on SEDAR. As soon as a successor auditor to the Former Auditor has been appointed, Datametrex will file a further press release confirming such appointment and whether the successor auditor agrees with the statements in the Notice.
The Former Auditor's reports with respect to Datametrex's financial statements for the fiscal years ended December 31, 2020 and December 31, 2019 did not contain a modified opinion and no "reportable event" (as such term is defined in NI 51-102) has occurred during the period covered by such financial statements or the period from December 31, 2020 to the date of the Former Auditor's resignation.
"The Company believes considering size of the Datametrex revenues and in the interest of retail and institutional investors, that a larger audit firm would be a benefit, and the Company is currently evaluating auditing proposals, including firms from the big four," stated Marshall Gunter, CEO of Datametrex.
The filing of the Notice and the letter of the Former Auditor was made at the request of the staff of the Ontario Securities Commission (the "OSC") in connection with a continuous disclosurereview of the company.
Datametrex AI Limited is a technology-focused company with exposure to Artificial Intelligence and Machine Learning through its wholly-owned subsidiary, Nexalogy (www.nexalogy.com). Datametrex's mission is to provide tools that support companies in fulfilling their operational goals, including Health and Safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, Company provides progressive solutions to support the supply chain.
For further information, please contact:
Marshall Gunter - CEO
Phone: (514) 295-2300
Neither the TSX Venture Exchange nor it's Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
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