This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers ("NI 62-103").
TORONTO, ON / ACCESS Newswire / June 10, 2026 / On June 9, 2026, Mr. Randy Gilling (the "Acquiror") disposed of an aggregate of 1,852,662 common shares (each, a "Common Share") in the capital of Alset AI Ventures Inc. (the "Company") (TSXV:GPUS)(OTC:GPUSD)(FSE:1R60, WKN:A40M0J) at a price of $0.12 per Common Share for aggregate gross proceeds of $222,319.44 (the "Disposition"). The Disposition was completed through the sale of the Common Shares on the facilities of the TSX Venture Exchange.
Immediately prior to completion of the Disposition, the Acquiror, together with any joint actor (as such term is defined in NI 62-103) beneficially owned or exercised control or direction over, directly or indirectly, an aggregate of 1,962,245 Common Shares and 463,333 warrants to purchase Common Shares ("Warrants"), representing approximately 11.13% of the issued and outstanding Common Shares on a non-diluted basis and 13.75% of the issued and outstanding Common Shares on a partially-diluted basis. Immediately following completion of the Disposition, the Acquiror, together with any joint actor, beneficially owned or exercised control or direction over, directly or indirectly, an aggregate of 109,583 Common Shares and 463,333 Warrants, representing less than 1.00% of the issued and outstanding Common Shares on a non-diluted basis and 3.25% of the issued and outstanding Common Shares on a partially-diluted basis.
The completion of the Disposition resulted in the Acquiror's beneficial ownership of, or control or direction over, the Common Shares to decrease below 10% of the issued and outstanding Common Shares on a partially-diluted basis. As a result, following the filing of the early warning report described below, the Acquiror will no longer file early warning or insider reports in respect of the Acquiror's ownership of the Company's securities, unless and until required under applicable securities legislation.
The Common Shares were disposed of for tax compliance purposes. The Acquiror may, depending on market conditions, the business and prospects of the Company and other relevant factors, increase or decrease its beneficial ownership of Common Shares or other securities of the Company whether in the open market, by privately negotiated agreement or otherwise, in compliance with applicable securities laws.
The Company is located at 701 West Georgia Street, Suite 1420, Vancouver, BC V7Y 1E4. The Acquiror is located at 777-2255B Queen Street East, Toronto, Ontario M4E 1G3. A copy of the early warning report related to the Disposition will be available within two (2) business days of the filing of this news release under the Company's profile on SEDAR+ at www.sedarplus.ca or may be obtained from the Acquiror at sales@silverbirchgrowth.com.
SOURCE: Alset AI Ventures Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/early-warning-news-release-regarding-the-disposition-of-common-s-1174920
