Alset AI Ventures Settles Debt with Share Issuance

Vancouver-based Alset AI Ventures Inc. has put in place debt settlement agreements totaling $511,179.80 with certain independent creditors. This step concerns debts, including those of Cedarcross International Technologies Inc., a wholly-owned subsidiary of the company. The decision to employ equity issuance to settle these debts enables the company to conserve cash resources and enhance its balance sheet.

As per the agreements, Alset AI Ventures plans to discharge the debt by issuing 3,098,059 common shares priced at $0.165 each. This arrangement awaits the approval of the TSX Venture Exchange, while the shares will be bound by a hold period in alignment with securities laws.