- Datametrex stock (TSXV:DM) dropped after announcing the sale of its electric vehicle charging business to Graph Blockchain (CSE:GBLC)
- Graph will purchase Datametrex Electric Vehicle Solutions for C$750,000, and up to C$3 million in earn-outs contingent on certain milestones over a three-year period
- Datametrex is actively developing innovative technologies in artificial intelligence, machine learning and healthcare
- Datametrex stock (TSXV:DM) is down by 11.11 per cent on the news trading at C$0.04 per share as of 9:53 am ET
Graph Blockchain is a technology-focused company with exposure to private blockchain and electric vehicle charging solutions. GBLC shares have lost 98.24 per cent since 2018. The company’s assets include:
- New World, an NFT marketplace
- Optimum Coin Analyser, a crypto trading research tool
- Beyond the Moon, a platform to launch new cryptocurrency tokens
- Babbage Mining, an altcoin mining, storage and staking service
Graph will purchase Datametrex Electric Vehicle Solutions for up to C$3,750,000, contingent on certain milestones over a three-year period. As per the agreement, it will issue 15 million common shares to Datametrex priced at C$0.05 each for a total of C$750,000.
The sale is motivated by Datametrex’s strategic focus on its remaining healthcare, artificial intelligence and machine learning businesses, including:
- Medi-Call, a healthcare subscription service, and Imagine Health Centres, a multidisciplinary medical brand offering access to doctors, registered nurses and other licensed specialists
- AnalyticsGPT, a predictive analytics tool
- Nexalogy, a social media insights and monitoring service provider
At close, Datametrex’s current 4.8 per cent ownership of Graph Blockchain will grow to 19.66 per cent.
“The divestiture aligns with Datametrex’s focus on our core strengths and markets, enhancing our pursuit of opportunities in AI, machine learning and healthcare,” stated Marshall Gunter, Datametrex’s CEO. “Realigning the stock options fortifies our commitment to driving shareholder value and stewarding the company towards future successes.”
Datametrex is actively developing innovative technologies in artificial intelligence, machine learning and healthcare.
Datametrex stock (TSXV:DM) is down by 11.11 per cent on the news trading at C$0.04 per share as of 9:53 am ET. The stock is down by 55.56 per cent year-over-year.
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