/NOT FOR DISTRIBUTION TO
Pursuant to the terms of the Definitive Agreement, as consideration for the Transaction and on closing thereof (the "Closing"), the Company will issue an aggregate of 59,289,392 common shares in the capital of the Company (the "PaymentShares") to the shareholders of Braight AI at a deemed value of
Braight AI has entered into a share exchange agreement dated
Closing of the Transaction is subject to, among other things, closing of the Acquisition, receipt by the Company of an independent third party valuation of Braight AI which is satisfactory to the Company in its sole discretion, compliance with all applicable regulatory requirements and receipt of all necessary regulatory, corporate, and board approvals being obtained, including the approval of the Canadian Securities Exchange (the "CSE"). There can be no assurance that the Transaction will be completed as proposed, or at all.
Pursuant to the terms and conditions of the Definitive Agreement and after Closing, the Company has agreed to transfer
In connection with the Transaction and in consideration of the introduction to the Company, the Company will pay arm's length finders by the issuance of 6,846,350 common shares of the Company (the "Finder's Shares") at a deemed value of
The Transaction is an arms-length transaction. On Closing, the Company will appoint two nominees of Braight AI to the board of directors of the Company .
Braight AI, through Epeer, is a leading provider of Artificial Intelligence (AI) Big Data analytics solutions. Braight AI specializes in leveraging the power of AI to extract actionable insights from vast amounts of data, empowering businesses to make informed decisions They offer two cutting-edge AI solutions tailored to address specific business needs: AI Risk and AI Marketing.
Established in 2005,
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
All information contained in this news release with respect to Epeer was supplied by Epeer for inclusion herein, and the directors and officers of the Company have relied on Epeer for such information.
Forward-Looking Information : This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com
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