Datametrex AI Limited announced a non-brokered private placement of up to 50,000,000 units at a price of CAD 0.02 per unit for aggregate gross proceeds of up to CAD 1,000,000 on February 1, 2024. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional share of the company at a price of CAD 0.05 per share for a period of 2 years from the date of issuance.

In connection with the Private Placement, the company may pay finder's fees equal to up to 8% cash and 8% broker warrants of the aggregate proceeds raised in the Private Placement. The Private Placement is expected to close on or about February 15, 2024 and such other dates as the company may determine. The closing of the Private Placement is subject to certain standard conditions including, but not limited to, the approval of the TSX Venture Exchange.

All securities that are issued pursuant to the Private Placement will be subject to a hold period of four months and one day in accordance with applicable Canadian securities laws. The Private Placement will not result in the creation of a new control person of the company.