Toronto, Ontario--(Newsfile Corp. - June 13, 2024) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink DTMXF) (the "Company" or "Datametrex") is pleased to announce that the Company is uploading its new play-to-earn game, Cereal Crunch, on the Google Play Store. This follows our previous press release on May 28, 2024, which announced the acquisition of the mobile game Cereal Crunch.
Additionally, the Company is proposing a non-brokered private placement financing of up to 75 million units ("Units") at a price of $0.02 per Unit (the "Private Placement"), aiming to raise aggregate gross proceeds of up to $1,500,000.
Each Unit will consist of one (1) common share of the Company ("Share") and one (1) common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one additional Share of the Company at a price of $0.05 per Share for a period of 3 years from the date of issuance.
The gross proceeds from the Private Placement will be utilized for general working capital purposes.
In connection with the Private Placement, the Company may pay finders' fees amounting to up to 8% in cash and 8% in broker warrants of the total proceeds raised.
The Private Placement is anticipated to close on or around June 27, 2024, or on other dates as determined by the Company.
The completion of the Private Placement is subject to certain standard conditions, including, but not limited to, the approval of the TSX Venture Exchange.
All securities issued through 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.
The securities offered have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold without registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
Introducing Cereal Crunch
Cereal Crunch is a hyper-casual puzzle game that utilizes match-3 mechanics and level progression to provide players with an enjoyable mobile gaming experience. Hyper-casual games like Cereal Crunch represent a genre where players can casually pick up the game and put it down throughout the day, as the game is simple and mainly consists of completing various objectives through a single game mechanic. In Cereal Crunch, players progress through levels of varying difficulty by tapping groups of matching cereal pieces enough times in a limited number of moves to beat each level. If players run out of moves, they lose that level. Players have a finite number of attempts before they either need to wait for their lives to replenish or purchase lives with in-game currency that they've earned or bought in the store. This purchase of currency represents the game's primary revenue stream.
In-game images of Cereal Crunch
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Revenue Generation and Play-to-Earn Model
Revenue will be generated through coin purchases and advertisements. By integrating blockchain technology, Cereal Crunch ensures secure and transparent transactions, providing players with real-world value for their in-game achievements. The play-to-earn model is designed to reward players with coins and, eventually, Crunch tokens (subject to regulatory approval), adding an extra layer of excitement to the traditional gaming experience.
Crunch Token Framework
Cereal Crunch contains two in-game currencies (coin and token) similar to many popular games (e.g., Clash of Clans). What is unique to Cereal Crunch is that one of the currencies will ideally be turned into a cryptocurrency/token that players can withdraw to their blockchain wallets. Alternatively, we may reward players with another cryptocurrency proportional to the number of Cereal Crunch tokens they have. It is important to note that the Crunch Token has yet to be launched and added to the game.
TSXV Undertaking
To get the Crunch Token integrated, Datametrex has committed to specific requirements set by the TSX Venture Exchange (TSXV). The Company will only create and issue blockchain-based tokens, including the Crunch Token within the Cereal Crunch game, once it has provided the TSXV with a description of the applicable legal framework, internal controls, processes, plans to ensure regulatory compliance, and a legal opinion confirming that the creation and issuance of the token complies with applicable securities regulations. This will be done to ensure full compliance and secure approval from the TSXV.
Aligning with Market Trends
As the play-to-earn model continues to gain traction in the gaming industry, Datametrex is poised to capitalize on this trend with the launch of Cereal Crunch and the future introduction of the Crunch Token. Our innovative approach aligns with the growing demand for games that offer real-world rewards through blockchain technology.
Future Expansion
In addition to the launch on the Google Play Store, Datametrex is planning to release Cereal Crunch on the Apple Play Store in the near future. This will further expand the game's availability and accessibility to a wider audience.
"We are thrilled to introduce Cereal Crunch to the gaming community," said Charles Park, CEO of Datametrex AI Ltd. "Our goal is to create a game that not only entertains but also provides players with tangible rewards. We believe that Cereal Crunch will set a new standard in the play-to-earn gaming sector."
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.
For Additional Information
Charles Park, CFA
Chief Executive Officer & Director
cpark@datametrex.com
(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.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Datametrex's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Such statements include those relating to game development and the Company's expectations and plans. Although Datametrex believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; future legislative and regulatory developments in the blockchain sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mobile video game industry and markets in Canada and generally; the ability of Datametrex to implement its business strategies; competition; and other assumptions, risks and uncertainties. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in Datametrex's management's discussion and analysis for the year ended December 31, 2023 which is available on Datametrex's profile at http://www.sedarplus.ca.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.
We seek Safe Harbor.
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SOURCE: Datametrex AI Limited
