In This Article:
VANCOUVER, British Columbia, Jan. 31, 2025 (GLOBE NEWSWIRE) -- AlphaGen Intelligence Corp. (CSE: AIC | OTC: APETF | FSE: W4V) (“AlphaGen'' or the “Company”), announces that it has entered into a debt settlement agreement (the “Agreement”) to settle outstanding debt owed to a creditor of the Company.
Pursuant to the Agreement, the Company has agreed to settle an aggregate of $115,000 in debt through the issuance of 3,833,333 units (each, a “Unit”) at a deemed price of $0.03 per Unit, whereby each Unit shall be comprised of one (1) common share in the capital of the Company (each a “Share”) and one (1) Share purchase warrant (each, a “Warrant”). Each Warrant will be convertible into an additional Share (a “Warrant Share”) at an exercise price of $0.05 per Warrant Share and will expire on the date that is two (2) years following the date of issuance.
The securities issued pursuant to the Agreement will be subject to a statutory four month and one day hold period issuance in accordance with applicable securities laws. The debt settlement is expected to close on or about February 10, 2025.
About AlphaGen Intelligence Corp.
AlphaGen Intelligence Corp. (CSE: AIC) (OTC: APETF) (FSE: W4V) is a publicly traded company, holding a portfolio of assets in gaming, entertainment, eCommerce, and retail. Operational units include: Shape Immersive, a full service metaverse studio building the future of web3 gaming and virtual retail experiences for Fortune 500 companies and beyond through 3D, spatial computing and game production; MANA, a SaaS solution and innovation lab that empowers partner companies to level up their community engagement by launching their own gaming platforms; AlphaGen clients and partners include RTFKT, Olympics, Red Bull, Intel, TED and more. Learn more at: https://alphagen.co.
Contact:
Investor Relations: info@alphagen.co - 604 359 1256
Media and Public Relations: info@alphagen.co
On Behalf of The Board of Directors
Eli Dusenbury
CFO and Director
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the debt settlement, including the closing and the anticipated closing date thereof.