Alset AI Announces Closing of Second Tranche of Loan Transaction of up to $3 Million
Rhea-AI Summary
Alset AI (OTC:GPUSF) closed a second tranche of a loan facility, receiving $195,000 on April 2, 2026, bringing total advances to $695,000 under a facility of up to $3,000,000. The company issued 195 debentures at $1,000 each bearing 6.0% interest, maturing in three years, and granted 1,300,000 non-transferrable warrants exercisable at $0.15 for three years. Funds are earmarked for working capital and growth of the Lyken.AI cloud compute business. The lender, Randy Gilling, is an insider holding >10% of common shares.
Positive
- $195,000 received in Second Tranche, total advanced $695,000
- Issued 195 debentures, providing three-year debt financing
- Granted 1,300,000 warrants exercisable at $0.15
- TSXV extended acceptance to allow additional tranches through May 20, 2026
Negative
- Transaction is a related-party deal; lender holds >10% of shares
- Debentures carry 6.0% interest and mature in 3 years
- Warrant exercise may require shareholder and TSXV approvals above 19.99%
- Warrants and shares issuable subject to 4-month plus 1 day hold period
News Market Reaction – GPUSF
In the Apr 24 session, GPUSF gained 27.97%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / April 24, 2026 / Alset AI Ventures Inc. (TSXV:GPUS)(OTC:GPUSF)(FSE:1R60, WKN:A40M0J) ("Alset AI" or the "Company") an artificial intelligence ("AI") venture company advancing innovation through strategic investment and cloud computing solutions, is pleased to announce that the Company closed an additional tranche (the "Second Tranche") of its previously-announced loan transaction with Mr. Randy Gilling (the "Lender") in the principal amount of up to
Second Tranche
Pursuant to the closing of the Second Tranche, on April 2, 2026 (the "Effective Date"), the Company issued 195 non-convertible debentures (each, a "Debenture", and collectively, the "Debentures") at a price of
In connection with the closing of the Second Tranche, the Company also issued to the Lender 1,300,000 non-transferrable warrants (the "Warrants"), each exercisable into one Common Share at a price of
The funds received pursuant to the Transaction are expected to be used for working capital and general corporate purposes in order to provide the Company with additional financial capabilities as it continues to advance its AI infrastructure strategy, including supporting the growth of its flagship cloud compute business, Lyken.AI.
Additional Tranches
The TSXV has agreed to extend its original acceptance to allow the Company to close additional tranches (each, a "Tranche") of up to an aggregate of
Following the closing of the Second Tranche, the Lender may purchase up to an additional 2,305 Debentures at a price of
In addition, upon the closing of each Tranche, the Company shall issue Warrants to the Lender, with each Warrant exercisable into one Common Share until three years from the applicable Issuance Date. For additional Tranches that close prior to the End Date, the number of Warrants issuable shall equal, subject to the final approval of the TSXV, the dollar amount of the principal amount of Debentures issued on the applicable Issuance Date, divided by
The number of Warrants issuable shall, subject to the approval of the TSXV, be determined by the Lender and the Company on or about each Issuance Date, which number shall not exceed the dollar amount of the principal amount of Debentures issued on the applicable Issuance Date, divided by the last closing price of the Common Shares prior to the issuance of the news release disclosing each Tranche (the "Market Price").
The Warrants shall be exercisable at the greater of: (a)
$0.15 and (b) the Market Price.
Additional Disclosure
In the event that the principal amount pursuant to any Tranche, including the previously-closed Tranches, is repaid in whole or in part within one year of the applicable Issuance Date, the maturity date for such number of Warrants that are proportionate to the amount so repaid shall be reduced to the later of: (i) one year from the applicable Issuance Date; and (ii) 30 days from such reduction of repayment of the principal amount. If the exercise of Warrants would cause the Lender to acquire more than
Pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the Transaction constitutes a "related party transaction" as Mr. Gilling is an insider of the Company by virtue of having beneficial ownership, control or direction over, directly or indirectly, greater than
About Alset AI Ventures Inc.
Alset AI is an AI-focused venture investment platform dedicated to sourcing, funding, and developing companies across the artificial intelligence value chain. The company seeks to provide investors with diversified exposure to emerging applications and infrastructure that enable advancements in AI technologies.
For further information about Alset AI Ventures Inc., please contact:
Investor Relations
Adam Ingrao
Chief Executive Officer
T: 236.312.6744
E: ir@alsetai.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note regarding Forward Looking Statements
This press release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") regarding the Company, including statements relating to the Transaction, the Second Tranche, and additional tranches; the submission of, and receipt of approval from the TSXV regarding the Application, and the terms thereof; the completion and expected terms of each future Tranche, if completed at all, and the terms thereof; the Company's intended use of proceeds from the Second Tranche and the Transaction; and the strategic direction and business plans of the Company, including its ability to provide investors with diversified exposure to emerging applications and infrastructure that enable advancements in AI technologies. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Alset AI's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Alset AI. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Alset AI undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risks and Uncertainties" in its most recent Management's Discussion and Analysis and other disclosure documents available on SEDAR+ at www.sedarplus.ca.
SOURCE: Alset AI Ventures Inc.
View the original press release on ACCESS Newswire