Datametrex to buy Ronin Blockchain for $10M in shares

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Mr. Andrew Ryu reports


Datametrex AI Ltd. has entered into a binding letter of intent to acquire all of the outstanding shares of Ronin Blockchain Corp., a global, industrial-scale blockchain platform with a specific focus in mining cryptocurrencies.

Pursuant to the terms of the LOI, the proposed consideration for the transaction is an aggregate amount of $10-million payable in common shares in the capital of the corporation as follows:

  1. $7.5-million of shares will be issued on the closing of the transaction at a deemed price of 25 cents per share, of which 50 per cent of this amount will be issued to Ronin on the closing of the transaction, 25 per cent of this amount will be issued to Ronin within three months from the closing date of the transaction and the remaining 25 per cent will be issued to Ronin within six months from the closing date of the transaction.
  2. $2.5-million of shares will be issued on the first anniversary from the closing date of the transaction and these shares will be issued at a price per share equal to the volume-weighted average price of the common shares of Datametrex on the TSX Venture Exchange for the 20 days prior to the first anniversary of the closing date of the transaction.

The transaction is anticipated to close on or before Jan. 12, 2018, with a definitive purchase agreement being entered into on or before Jan. 9, 2018. The transaction is subject to the approval of the TSX-V and certain conditions pursuant to the terms of the letter of intent, including satisfactory due diligence.

“We are thrilled to enter into this agreement with Ronin and their world-class team of directors, officers and advisers. We look forward to adding a cryptocurrency-mining vertical to complement our existing solutions of data collection, artificial intelligence and blockchain technologies,” said Andrew Ryu, chief executive officer and chairman.

About Ronin Blockchain Corp.

Ronin is a private company located in Vancouver, B.C. Ronin’s objective is to become a large player in the industrial blockchain mining sector through a concentrated focus on scale, innovative technologies and low-cost energy supply.

Ronin’s business model is based on an industrial-scale blockchain mining platform, which enables the company to access and manage global cryptocurrency mining infrastructure. Ronin will provide state-of-the-art industrial mining capability across the world and utilize its industrial scale, beginning in China, to optimize efficiency and profitability of the arbitrage opportunities on a GPU (graphics-processing unit) based mining infrastructure.

Ronin has entered into a binding memorandum of understanding with GoSun Group. GoSun, founded in 2006, is one of China’s largest infrastructure and networking companies with over 90 operating datacentres in China.

The memorandum of understanding outlines the following key points:

  • An opportunity to gain access, for the purposes of crypto mining, to 10 GoSun datacentres by Jan. 1, 2018, with a minimum of 20 racks per datacentre;
  • Access to at least 15 additional datacentres per quarter for MaaS starting in the first quarter of 2018;
  • Access to all 90 datacentres by the third quarter of 2019;
  • Most-favoured-nation pricing for all electricity and flow-through pricing if the provider reduces any costs related to electricity.

The GoSun partnership provides Ronin with access to the world’s largest blockchain mining market with the previously discussed fundamental drivers for success: fast Internet connections, low-cost energy delivery, and proximity to miners and equipment producers.

Directors, officers and advisers to Ronin

Darcy Taylor, chief executive officer and director

Mr. Taylor has more than 20 years in senior leadership roles and a proven record across multiple industries spanning Asia, Europe and North America. A blockchain-technology enthusiast since 2013, his pan-Asian experience while residing in Seoul, Korea, exposed him to the potential for the technology to disrupt a multitude of industries. Prior to his international experience, Mr. Taylor was chief executive officer of MASEV Communications Inc., which was successfully acquired by IMG Canada.

Mike Edwards, director

A lifelong entrepreneur, Mr. Edwards has started and invested in technology companies for over 20 years. Mr. Edwards is actively involved in growing and supporting the cryptocurrency start-up community and connecting local entrepreneurs with the right investors, mentors and influencers in Silicon Valley, New York, Europe and Asia.

Jonathan Bixby, director

Mr. Bixby is a serial entrepreneur, active investor, board member and speaker. Mr. Bixby has helped raise over $100-million in venture capital and has been involved in over 10 successful exits. In addition to his investing efforts, Mr. Bixby has been active in the cryptocurrency world since 2012 as an investor and entrepreneur.

The company is proud to announce an elite blockchain advisory board unrivaled in Canada as follows.

Gil Penchina

Mr. Penchina is a cryptocurrency expert known worldwide for his involvement and leadership in the cryptocurrency industry. Mr. Penchina has two successful ICOs (initial coin offering) in Brave (BAT) and Ripple (XRP), running the largest syndicate on AngelList and an early investor in LinkedIn, Blockstream, UXPin.

Rohan Gharegozlou

Mr. Gharegozlou is the founder and chief executive officer of CryptoKitties, the world’s most successful blockchain game. He is also the chief executive officer of Axiom Zen, an award-winning venture studio that specializes in applying emerging blockchain technologies to unsolved business problems. Mr. Gharegozlou has been working with bitcoin and various forms of blockchain and distributed ledger technologies since 2014.

Thomas Kineshanko

Mr. Kineshanko has been an investor in cryptocurrency and ICOs since their early days in 2012. Prior to co-founding Protos Cryptocurrency Asset Management, Mr. Kineshanko was a founder and general partner of First Block Capital, Canada’s first regulated crypto investment firm, since March, 2017. Mr. Kineshanko also co-founded Fintech Enterprises Inc., one of the first North American buy/hold bitcoin and ether funds, as well as the Blockchain platform

Dean Sutton

Always focused on emerging technology, Mr. Sutton has been in the digital asset industry since 2012 when he started in digital mining and working with teams to develop decentralized technologies. Currently he is a sought-after blockchain-industry thought leader, investor and speaker, adviser to the Blockchain Association of Canada, and founder of BlockTech Ventures Inc.

Kyle Campbell

A respected crypto software engineer. Mr. Campbell sold his first company to Zillow Group after only eight months. He is now working on his second company; Hack Capital, maker of — an intelligence product that helps any company build high-performing engineering teams focusing on the blockchain and cryptocurrency-mining optimization.

About Datametrex AI Ltd.

Datametrex AI is focused on the collection of retail sales data, providing government agencies and Fortune 500 corporations with artificial intelligence solutions and implementing blockchain solutions for secure data transfers. The company is planning on integrating the DataTap environment to decentralized blockchains to further authenticate and validate the data collected.

We seek Safe Harbor.

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