Technology
Tuesday, May 28th, 2024 2:12 pm EDT
Key Points
- Acquisition Completion: Datametrex AI Limited has completed the acquisition of the mobile blockchain game Cereal Crunch from Sariel Diagnostics Corp. for $3,500,000, paid through the issuance of 70,000,000 common shares.
- Asset Details: The acquisition includes all assets related to Cereal Crunch, such as the game software, intellectual property, user databases, Crunch Token, and approximately $150,000 in cash.
- Strategic Fit: The acquisition aligns with Datametrex’s focus on innovative technologies, particularly in the e-gaming and blockchain sectors, enhancing its portfolio with a game that combines match-3 mechanics and a play-to-earn cryptocurrency model.
Toronto, Ontario–(Newsfile Corp. – May 28, 2024) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink: DTMXF) (the “Company” or “Datametrex”) is pleased to announce that further to its press release dated April 8, 2024, the Company completed the arm’s length acquisition of the mobile blockchain game Cereal Crunch from Sariel Diagnostics Corp. (“Sariel”). The deal was closed following the signing of a Definitive Agreement dated May 9, 2024.
Key Acquisition Details
Asset Highlights: Datametrex acquires all assets related to Cereal Crunch, including the game software, intellectual property, user databases, and the Crunch Token, which is integral to the game’s play-to-earn model, as well as roughly $150,000 in cash.
Purchase Price: The acquisition was finalized for a total value of $3,500,000, comprising 70,000,000 common shares of Datametrex issued at a deemed price of $0.05 per share.
Gaming Innovation: With match-3 mechanics and a play-to-earn model rewarding players in cryptocurrency, Cereal Crunch uniquely blends gaming entertainment with the potential for crypto earnings.
Charles Park, President of Datametrex, commented, “The acquisition of Cereal Crunch aligns perfectly with our strategic focus on innovative technologies. We are excited to bring Cereal Crunch into our portfolio, offering immense potential for growth and success in this emerging sectors of e-gaming and blockchain.”
John Karagiannidis, President of Sariel Diagnostics Corp., stated, “This acquisition signifies a major milestone for Sariel, validating our hard work on Cereal Crunch. Datametrex is the ideal partner to lead the game’s development to new heights.”
All of the common shares issued in connection with acquisition are subject to a statutory hold period of four months and one day. The issuance is being conducted on an expedited basis pursuant to the policies of the TSX Venture Exchange and is subject to final acceptance by the TSX Venture Exchange. The transaction was negotiated at arm’s length and no new insider of Datametrex has been created as a result of the closing of the acquisition.
About Datametrex
Datametrex is an innovative leader in Technology Solutions, Artificial Intelligence, Healthcare, and Mobile Gaming. The Company excels in delivering tools and solutions that enhance operational efficiencies and business outcomes. With a commitment to innovation, Datametrex is dedicated to supporting enterprises by setting a new standard for business protocols through cutting-edge technology.
For more on Datametrex, please visit our YouTube channel and Company website.
About Sariel
Sariel is a pioneering crypto and AI technology company committed to investing in and building play-to-earn blockchain games and advanced AI solutions.
For more on Sariel, please visit the Company website.
For Additional Information
Charles Park, CFA
Chief Executive Officer & Director
(416) 901-5611 x203
Neither TSX Venture Exchange nor its 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.
