Mr. Charles Park reports

DATAMETREX ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT FINANCING

Further to its news release dated Feb. 1, 2024, Datametrex AI Ltd. has closed its non-brokered private placement financing of 50 million units of the company at a price of two cents per unit for aggregate gross proceeds of $1-million.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional share of the company at a price of five cents for a period of two years from the date of issuance.

The gross proceeds of the private placement will be used for general working capital.

In connection with the private placement, the company paid cash finders' fees of $3,200 and issued 160,000 brokers' warrants on gross proceeds raised by eligible arm's-length parties. Each broker's warrant is exercisable to acquire one share of the company at a price of five cents for a period of two years.

Insiders of the company have participated in the private placement by subscribing for 5.25 million units. The participation by the insiders in the offering is considered a related party transaction, as defined for the purposes of Multinational Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The related party transaction is exempt from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5 (a) (b) and (c) and 5.7(1) (a) and (b) of MI 61-101, as the company is not listed on a specified market, the transaction was a distribution of securities for cash, and neither the fair market value of the units distributed to nor the consideration received from the related parties exceeded 25 per cent of the issuer's market capitalization or $2.5-million. The company did not file a material change report at least 21 days prior to completion of the offering, as the details of the participation by the related party had not been determined at that time, in order to complete the offering in an expeditious manner and which the company deems reasonable in the circumstances. The participation by insiders in the offering was approved by the independent directors of the company.

Chief executive officer Charles Park remarked: "We are immensely thankful for the support and confidence our investors have placed in Datametrex. This successful financing is a clear endorsement of our strategic direction and underscores the significant growth potential we see ahead. We are committed to leveraging this capital to further our goals and deliver value to all our stakeholders."

The closing 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 pursuant to the private placement are subject to a hold period of four months and one day, in accordance with applicable Canadian securities laws. The private placement has not resulted in the creation of a new control person of the company.

About Datametrex AI Ltd.

Datametrex is an innovative leader in technology solutions, artificial intelligence and health care. 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.

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