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VANCOUVER, BC, Jan. 13, 2025 /PRNewswire/ - Generative AI Solutions Corp. ("GenAI" or the "Company") (CSE: AICO) (OTCQB: AICOF) announces that it is proposing to amend the terms of 9,595,531 common share purchase warrants (the "Warrants") issued by the Company in connection with a private placement financing that closed on June 6, 2023. The Warrants were issued at an exercise price per share of C$1.65 and are scheduled to expire on June 6, 2025. The proposed amendments will include the following (the "Proposed Amendments"): (a) a reduction of the exercise price to C$0.17 per share issuable upon exercise of each Warrant; and (b) an extension to the expiry date to June 6, 2028.
The Proposed Amendments are subject to the approval of the Canadian Securities Exchange (the "CSE"). Subject to the approval of the CSE, the Proposed Amendments will become effective automatically as of the new date and time of expiry of the Warrants. Prior to the original date and time of expiry of the Warrants, the Warrants will remain in force, unamended, per their original terms and conditions. None of the Warrants are beneficially owned, directly or indirectly, by related parties of GenAI and none of the Warrants are listed on the CSE. The Proposed Amendments do not apply to any Warrants issued to finders or agents as compensation.
Holders of the Warrants may contact the Company at info@genai-solutions.com should they have any questions or wish to exercise their Warrants. Subject to the amendments becoming effective, the original certificate representing the Warrants, together with a duly completed exercise form, will be accepted together with payment made to Generative AI Solutions Corp., in accordance with the instructions provided on the certificate representing the Warrants.
On Behalf of the Board,
Patrick Gray
CEO, Director and Chairman of the Board
Generative AI Solutions Corp.
Toll-free North America: +1-833-879-7632
Outside North America: +1-406-879-7632
info@genai-solutions.com
www.genai-solutions.com
About Generative AI Solutions Corp.
GenAI is a pioneering artificial intelligence company focused on developing a vertically integrated AI solutions business through its proprietary MAI Cloud™platform, with the development and commercialization of AI-powered tools and solutions for businesses and consumers across multiple industries. At GenAI, our mission is to harness the power of AI to create transformative products and services that benefit business and consumers across various sectors. Our team of talented AI professionals and engineers are dedicated to developing state-of-the-art AI- based solutions that have broad applicability and can be seamlessly integrated into diverse workflows. By leveraging our MAI Cloud™platform and our expertise in machine learning, natural language processing, and data analytics, we build versatile high-performance tools that redefine efficiency, productivity, and user experience.