VANCOUVER, BC / ACCESS Newswire / June 27, 2025 / Alset AI Ventures Inc. (TSXV:GPUS)(OTC PINK:GPUSF)(FSE:1R60)(WKN:A3ESVQ)("Alset AI" or the "Company") an artificial intelligence ("AI") venture company advancing innovation through strategic investment and cloud computing solutions pleased to announce, that it has entered into a definitive share exchange agreement (the "Share Exchange Agreement") to acquire the remaining 25% of the issued and outstanding common shares in the capital of in Cedarcross International Technologies Inc. ("Cedarcross"), a BC-based private AI cloud computing company now operating under the brand Lyken.AI ("Lyken"). Upon closing of the acquisition, Alset AI will hold 100% ownership of the flagship Platform-as-a-Service ("PaaS") compute platform.
"Completing this investment into Lyken.AI will be a major milestone for Alset," said Adam Ingrao, CEO of Alset AI. "We will be positioned to help accelerate the commercial launch of Lyken.AI's PaaS strategy, deepen integration with our partners, and invest to help scale Lyken rapidly to meet the increasing demand for domestic AI compute capacity. This transaction supports our goal to monetize infrastructure through value-added services and strategic alliances."
Transaction Details
Pursuant to the terms of the Share Exchange Agreement, Alset will issue 7,000,000 common shares in the capital of the Company (each, a "Consideration Share") to the remaining shareholder of Cedarcross Technologies in exchange for approximately an additional 25% of the issued and outstanding shares of Cedarcross Technologies at a deemed price of $0.10 per Consideration Share for total deemed consideration of $700,000 CAD (the "Purchase Price"). No finder's fee is payable in connection with the acquisition. The acquisition is an arm's length transaction. The Acquisition is subject to approval of the TSX Venture Exchange.
This transaction follows Alset AI's initial acquisition of a majority interest in Cedarcross on February 26, 2025 and its subsequent rebranding to Lyken.AI to better reflect the Company's focused go-to-market compute strategy.
It is anticipated that Lyken will launch a new corporate website by the end of Q3 2025, designed to showcase its platform capabilities, ecosystem partnerships, and turnkey infrastructure solutions. The site will serve as a central hub for customers, partners, and investors seeking to engage with Lyken's end-to-end AI infrastructure offerings. With this revamped strategic focus, Lyken is well positioned to become a prominent boutique AI infrastructure platform, designed from inception to deliver margin-rich solutions, reduce time-to-deployment, and scale compute resources as demand accelerates.
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.
For further information about Alset AI Ventures Inc., please contact:
Investor Relations
Adam Ingrao
Chief Executive Officer
T: 236.312.6744
E: ir@alsetai.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note regarding Forward-Looking Statements This press release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") related to the proposed acquisition of common shares of Cedarcross, the closing of such acquisition as anticipated or at all, obtaining the TSX Venture Exchange's approval for the acquisition, and the proposed benefits to the Company from the completion of the acquisition. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Alset AI's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Alset AI. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Alset AI undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risks and Uncertainties" in its most recent Management's Discussion and Analysis and other disclosure documents available on SEDAR+ at www.sedarplus.ca.
SOURCE: Alset AI Ventures Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/alset-ai-enters-into-definitive-agreement-to-acquire-remaining-i-1043661
