on Alset AI Ventures Inc. (CVE:GPUS)
Alset AI Ventures Secures $3 Million Loan to Boost Lyken.AI Growth
Alset AI Ventures Inc. announced a strategic $3 million unsecured term loan facility. This loan from insider Randy Gilling is aimed at supporting the growth of Alset's flagship cloud computing platform, Lyken.AI, with plans to achieve positive operating income by 2026. The loan will be made available in four advances aligned with company milestones, with an interest rate of 6% annually and a three-year maturity.
The funding strengthens Alset's financial flexibility, allowing it to bypass dilutive equity raises and scale Lyken.AI's PaaS platform. Issuance of non-transferable warrants accompanies each loan advance, subject to TSXV approval. These financial steps are designed to enhance Alset's capability to meet growing global demand for cloud solutions.
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