TORONTO, Nov. 28, 2018 (GLOBE NEWSWIRE) — Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G) announces plans to leverage its strengths, better optimize capital allocation, and provide even more focused support to its Artificial Intelligence (AI) and Machine Learning subsidiaries, as the Company is taking strategic actions that will enable it to concentrate more on its core business operations. The renewed focus on its core strengths is at the heart of its recent decision to write down its crypto mining division, Ronin Blockchain Corp.
The Company recently announced that it has created a new Artificial Intelligence (AI) and Machine Learning company, Canntop AI Limited (“Canntop”) to focus exclusively on the Cannabis sector. It is our opinion that the legalization of cannabis will result in a massive amount of data on social media platforms that will need to be collected, filtered and organized so that all stakeholders (public and private) can make informed decisions. Creating Canntop AI was a strategic move that allows Nexalogy Environics to focus on servicing its core clients, Global Government Agencies, and to focus on securing new opportunities. With the recent announcement of the Fake News Detection Filter Nexalogy has received increased interest from various governments and agencies globally and needs to focus 100% of its resources on the opportunities in front of it.
“We are now able to focus our energy and resources on our core AI businesses to drive revenue and create shareholder value,” said Andrew Ryu, CEO and Chairman of the Company.
About Datametrex AI Limited
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), and implementing Blockchain technology for secure Data Transfers through its investee company, Graph Blockchain (www.graphblockchain.com).
Additional information on Datametrex is available at: www.datametrex.com
For further information, please contact:
Jeffrey Stevens – President & COO
Phone: (647) 400-8494
Email: jstevens@datametrex.com
Neither the 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 “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.