Datametrex AI Limited (TSXV: DM) has announced the signing of a non-binding Letter of Intent on April 5, 2024, to acquire the mobile game Cereal Crunch from Sariel Diagnostics Corp. The acquisition marks a significant move for Datametrex, known for its leadership in Technology Solutions, Artificial Intelligence, and Healthcare. As part of the deal, Datametrex will secure substantial assets related to Cereal Crunch, encompassing game software, intellectual property, user databases, and the recently launched Crunch Token on April 2, 2024. The Crunch Token serves as a pivotal element in the Cereal Crunch game ecosystem, facilitating its play-to-earn blockchain gaming model. Additionally, the acquisition includes a cash component of approximately $300,000 and grants access to Sariel’s Coinsquare account, essential for managing cryptocurrency transactions associated with the game.
Valuation and Transaction Details
The acquisition is valued at $3,500,000, to be satisfied through the issuance of 70,000,000 common shares of Datametrex at a deemed price of $0.05 per share.
Revolutionizing Mobile Gaming with Blockchain Integration
Cereal Crunch stands out in the mobile gaming landscape with its distinctive match-3 mechanics and innovative cryptocurrency rewards system. By blending entertainment with the potential for crypto earnings, Cereal Crunch aims to offer players a novel gaming experience.
Leadership Perspectives
Charles Park, President of Datametrex, expressed enthusiasm about the acquisition, highlighting its significance in reinforcing Datametrex’s commitment to pioneering technologies in gaming and cryptocurrency sectors. Park emphasized the company’s dedication to the successful development and launch of Cereal Crunch.
John Karagiannidis, President of Sariel Diagnostics Corp., hailed the partnership with Datametrex as a milestone moment for Sariel. He noted that the acquisition not only validates the dedication of Sariel’s team to developing Cereal Crunch but also aligns with the company’s mission to drive innovation in the crypto and AI domains. Karagiannidis conveyed confidence that under Datametrex’s stewardship, Cereal Crunch and the Crunch Token will garner the recognition and success they deserve.
Completion and Regulatory Considerations
The completion of the acquisition remains subject to customary closing conditions, including the finalization of a definitive agreement, satisfactory completion of due diligence, and obtaining requisite regulatory approvals.
Conclusion
Datametrex’s acquisition of Cereal Crunch signifies its strategic expansion into the burgeoning blockchain gaming market. With a focus on innovation and leveraging blockchain technology, Datametrex aims to unlock new opportunities in the gaming sector while reinforcing its position as a leader in pioneering technologies.