Datametrex Acquires Yuzu Payment Solution for $5.5M

Datametrex AI has completed the acquisition via a wholly owned subsidiary, Paymetrex Payment Solutions, of the Yuzu payment processing solution from Firstpayment, including the related patents and intellectual property in an arm's length transaction. Datametrex has acquired the Yuzu Payment Solution from Firstpayment for the purchase price of $5.5M, which was satisfied through the issuance of an aggregate of 55,000,000 common shares in the capital of Datametrex, at a deemed issue price of $0.10 per share. The Consideration Shares a subject to a hold period of four months and one day. The proceeds of the Company's previously announced private placement of subscription receipts have been released from escrow and will be used to integrate the Yuzu Payment Solution into Datametrex's technology division and to pursue merchant opportunities to generate revenue. Datametrex has not assumed any debt of Firstpayment and the acquisition does not constitute a fundamental change or result in a change of business for the Company, nor is it expected to result in a change of control of the Company within the meaning of applicable securities laws and defined in the policies of the TSXV. In connection with the closing of the Transaction Michael Kron was appointed to the Board of Directors of the Company and will also be appointed as Vice President of Paymetrex.