Every year LOTTE choses 10 of its top vendor companies to put on their preferred partners program. Vendors on this platform have demonstrated quality, reliability and trustworthiness. Once on this platform, a company can receive payments in full for contracts within two weeks of a purchase order. For companies that are part of the preferred vendor group, LOTTE has created a growth fund of approximately $200M USD. This fund is used to create joint venture (JV’s) companies with preferred vendors or to co-bid on contracts of significant size as a way to sponsor their preferred vendors.
In addition to creating JV’s, LOTTE also offers its preferred partners loans bearing minimal interest rates to support their growth. The current rate at approximately 3%. Datametrex is pleased to share that it is currently in the process of creating a JV with LOTTE for Government related contracts. As a direct benefit of Datametrex inclusion in this program, the Company is eligible to borrow up to $500,000 CAD per quarter.
“Being chosen to participate in the preferred vendor program with LOTTE is a validation of the quality of work our team is providing to LOTTE. It also assists greatly with cash flow and the fact that we can apply for such a low interest rate loan removes any financing risk for the Company,” says Marshall Gunter, CEO 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).
Additional information on Datametrex is available at: www.datametrex.com
For further information, please contact:
Marshall Gunter – CEO
Phone: (514) 295-2300
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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.
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