DatChat Closes Avila Security Corporation Merger

NEW BRUNSWICK, N.J., July 05, 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 closed on the previously announced acquisition of Avila Security Corporation (“Avila Security”). Pursuant to the terms of the agreement and plan of merger (the “Merger Agreement”), the Company issued 1,000,000 shares of restricted common stock, all of which are subject to a lock-up agreement.

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