DatChat Enters into Letter of Intent to Acquire Avila Security Corporation and their Web 3.0 Patent Portfolio of Blockchain Messaging, Blockchain Digital Rights Management, Secure Audio and Video Streaming & Self-Sovereign ID Technology

NEW BRUNSWICK, N.J., Jan. 20, 2022 (GLOBE NEWSWIRE) -- DatChat, Inc. ("DatChat" or the "Company") (Nasdaq: DATS), a communications and social media company that gives users the ability to communicate, share, and post with privacy and screen capture protection, today announced the Company has signed a Letter of Intent to acquire Avila Security Corporation (“Avila Security”) effectuating the Company to secure four issued patents and two pending applications, subject to customary closing conditions. The transaction terms include $1 million in cash and the greater of 739,650 shares of restricted common stock or $2.5 million of restricted common stock [of DatChat] based on the previous 30 day average closing share price at closing.

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