Mr. Adam Ingrao reports

ALSET AI CLOSES 100% OWNERSHIP IN CEDARCROSS TECHNOLOGIES (DBA LYKEN.AI)

Alset AI Ventures Inc. has closed its previously announced transaction to acquire the remaining 25 per cent of the issued and outstanding common shares of Cedarcross International Technologies Inc., a British Columbia-based private AI (artificial intelligence) cloud computing company now operating under the brand Lyken.AI. With the completion of this transaction, Alset AI now owns 100 per cent of Lyken, its flagship platform-as-a-service (PaaS) compute platform.

Lyken.AI is targeting a full-scale launch this summer, anchored by a brand-new corporate website that will showcase the platform's capabilities, ecosystem partnerships and turnkey infrastructure solutions.

"Achieving 100-per-cent ownership of Lyken.AI is a pivotal milestone for Alset AI," said Adam Ingrao, chief executive officer of Alset AI. "This positions us to move aggressively toward Lyken's full-scale commercial launch, with a new corporate website coming this summer. We have been developing a strong pipeline of opportunities and are in active discussions with strategic partners to build out the Lyken ecosystem. This transaction solidifies our ability to scale and meet the accelerating demand for domestic AI compute capacity while driving long-term value for shareholders."

Transaction details

Pursuant to the terms of the share exchange agreement, Alset AI issued seven million common shares in the capital of the company as directed by the remaining shareholder of Cedarcross in exchange for the final 25 per cent of the issued and outstanding shares of Cedarcross at a deemed price of 10 cents per consideration share, for a total deemed consideration of $700,000. No finder's fee was payable in connection with the acquisition.

About Alset AI Ventures Inc.

Alset AI is a pioneering AI and cloud computing investment firm, committed to nurturing high-potential technology companies. Through a combination of capital, strategic advisory and cloud computing alliances, Alset AI is shaping the future of artificial intelligence and building an AI-focused venture capital platform poised for substantial growth.

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