Alset Capital Inc. Announces Effective Date of Name Change to Alset AI Ventures Inc. and Updated Investment Policy
Rhea-AI Summary
Alset Capital Inc. has announced a corporate name change to Alset AI Ventures Inc., effective August 23, 2024. The company's trading symbol on the TSX Venture Exchange will change to GPUS, while symbols on OTC Markets and Frankfurt Stock Exchange remain unchanged. This rebranding reflects Alset's intensified focus on the AI sector.
Concurrently, Alset has updated its Investment Policy to primarily target the technology industry, emphasizing artificial intelligence. The company aims to build a portfolio of emerging companies advancing full-stack AI solutions, including AI services, software, GPU hardware, and data centers. Alset will invest in both early-stage startups and established ventures, providing financial and strategic guidance.
Positive
- Rebranding to Alset AI Ventures Inc. signals a strategic shift towards the AI sector
- Updated Investment Policy focuses on the rapidly growing artificial intelligence industry
- New trading symbol GPUS on TSX Venture Exchange may increase visibility in the AI market
Negative
- None.
VANCOUVER, BC / ACCESSWIRE / August 21, 2024 / Alset Capital Inc. (TSXV:KSUM)(OTC PINK:ALSCF)(FSE:1R60)(WKN:A3ESVQ) ("Alset" or the "Company") is pleased to announce a corporate name change from "Alset Capital Inc." to "Alset AI Ventures Inc." effective August 23, 2024 (the "Name Change"). Concurrently, the Company's trading symbol on the TSX Venture Exchange will change to "GPUS". The Company's trading symbols on the OTC Markets (OTC Pink) and Frankfurt Stock Exchange (FSE) will remain unchanged.
The Company's common shares will begin trading on the TSX Venture Exchange under the new name and trading symbol on August 23, 2024. The new CUSIP number for the Company's common shares will be 021155106, and the new ISIN number will be CA0211551068. The share capital of the Company will remain unchanged.
"The name and symbol changes represent an inflection point for the Company as we intensify our focus on the rapidly evolving AI sector," said Morgan Good, CEO of Alset. "Rebranding as Alset AI Ventures Inc., with the new ticker GPUS, highlights our strategic dedication to innovation and growth within this dynamic industry. We believe that this new identity, along with our updated Investment Policy, better aligns with the Company's vision and future direction."
The Company believes that this name change better aligns with its strategic commitment to building a portfolio of emerging companies that are advancing full-stack AI solutions, including AI services, AI software, AI GPU hardware, and AI data centers.
Alset remains dedicated to supporting AI companies that demonstrate breakthrough technologies, robust business models, and exceptional leadership. The Company invests in both early-stage startups and established ventures, providing the financial and strategic guidance necessary to thrive in today's dynamic AI ecosystem. Its vision is to cultivate a diverse portfolio of full-stack AI offerings that drive innovation and growth.
Updated Investment Policy to Focus on Artificial Intelligence
The Company is also pleased to announce that it has amended and updated its Investment Policy to provide that its investments shall be primarily focused in the technology industry with an emphasis on artificial intelligence. The Company and its Board of Directors have determined that it is in the best interests of the Company to update its Investment Policy and believes that the updated Investment Policy better aligns with the Company's strategic goals, objectives, and ultimate vision.
To view the Company's updated Investment Policy, please visit its website at alsetai.com.
On behalf of Alset Capital Inc.
"Morgan Good"
Morgan Good
Chief Executive Officer
About Alset Capital Inc.
Alset Capital Inc. is an investment issuer that is focused on investment in diversified industries such as technology, healthcare, industrial, special situations, operating businesses through both debt and equity using cash resources or shares in its capital. The Company is led by an experienced, entrepreneurial group of executives having a diverse industry and capital markets background.
Alset Capital Inc.'s investment portfolio comprises
For further information about Alset Capital Inc., please contact:
Morgan Good, CEO and Director
T: 604.715.4751
E: morgan@alsetai.com
Cautionary Note regarding Forward Looking Statements
This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, "subject to", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be achieved. Forward-looking statements include statements with respect to receiving regulatory and exchange approvals with respect to the Name Change. Forward-looking statements are based on assumptions, but the actual results may be materially different from any future expectations expressed or implied by the forward-looking statements. The forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including, but not limited to, the equity markets generally and a failure to obtain the necessary approvals from the TSX Venture Exchange. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Alset Capital Inc.
View the original press release on accesswire.com
FAQ
When will Alset Capital Inc. (ALSCF) change its name to Alset AI Ventures Inc.?
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How has Alset Capital Inc. (ALSCF) updated its Investment Policy?
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