Alset AI Ventures Completes Initial $500,000 Loan Tranche

Alset AI Ventures Inc., an AI-focused venture company, has finalized the first tranche of a loan transaction valued up to $3 million. This initial tranche, executed with insider Randy Gilling, provided $500,000 in funding. The company issued 500 non-convertible debentures at $1,000 each, bearing an annual interest rate of 6%, and maturing in three years. In addition, 3,333,333 warrants were granted to the lender, exercisable at $0.15 per share.

The funds will support Alset AI's cloud computing business, Lyken.AI, enhancing its working capital and corporate operations. CEO Adam Ingrao stated that this financial reinforcement will enable the company to expand its AI investment strategy. Further loan tranches are anticipated, potentially increasing the funding by an additional $2.5 million.