VANCOUVER, BC, Jan. 13, 2025 /CNW/ - Generative AI Solutions Corp. ("GenAI" or the "Company") (CSE: AICO) (OTCQB: AICOF) announces that it is proposing to amend the terms of 9,595,531 common share purchase warrants (the "Warrants") issued by the Company in connection with a private placement financing that closed on June 6, 2023. The Warrants were issued at an exercise price per share of C$1.65 and are scheduled to expire on June 6, 2025. The proposed amendments will include the following (the "Proposed Amendments"): (a) a reduction of the exercise price to C$0.17 per share issuable upon exercise of each Warrant; and (b) an extension to the expiry date to June 6, 2028.
The Proposed Amendments are subject to the approval of the Canadian Securities Exchange (the "CSE"). Subject to the approval of the CSE, the Proposed Amendments will become effective automatically as of the new date and time of expiry of the Warrants. Prior to the original date and time of expiry of the Warrants, the Warrants will remain in force, unamended, per their original terms and conditions. None of the Warrants are beneficially owned, directly or indirectly, by related parties of GenAI and none of the Warrants are listed on the CSE. The Proposed Amendments do not apply to any Warrants issued to finders or agents as compensation.
Holders of the Warrants may contact the Company at [email protected] should they have any questions or wish to exercise their Warrants. Subject to the amendments becoming effective, the original certificate representing the Warrants, together with a duly completed exercise form, will be accepted together with payment made to Generative AI Solutions Corp., in accordance with the instructions provided on the certificate representing the Warrants.
On Behalf of the Board,
Patrick Gray
CEO, Director and Chairman of the Board
Generative AI Solutions Corp.
Toll-free North America: +1-833-879-7632
Outside North America: +1-406-879-7632
[email protected]
www.genai-solutions.com
About Generative AI Solutions Corp.
GenAI is a pioneering artificial intelligence company focused on developing a vertically integrated AI solutions business through its proprietary MAI Cloud™platform, with the development and commercialization of AI-powered tools and solutions for businesses and consumers across multiple industries. At GenAI, our mission is to harness the power of AI to create transformative products and services that benefit business and consumers across various sectors. Our team of talented AI professionals and engineers are dedicated to developing state-of-the-art AI- based solutions that have broad applicability and can be seamlessly integrated into diverse workflows. By leveraging our MAI Cloud™platform and our expertise in machine learning, natural language processing, and data analytics, we build versatile high-performance tools that redefine efficiency, productivity, and user experience.
For more information on GenAI, please visit www.genai-solutions.com.
Forward-Looking Information and Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the Company's ability to continue to develop revenue generating applications; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; and the continued growth of the Company; and Company's ability to continue to meet the requirements of listing of the CSE.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company'sexpectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
SOURCE GENERATIVE AI SOLUTIONS CORP.
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