Alset Capital Inc. Provides Corporate and Operational Update

Alset Capital Inc. (TSXV:KSUM)(OTC:ALSCF)(FSE:1R60) has released an update outlining significant corporate and operational milestones for 2024. The company has continued to expand its portfolio in the artificial intelligence (AI) sector, focusing on long-term value generation for shareholders.

On May 23, Alset announced the formation of its AI Advisory Board, which includes former Google and Panasonic AI Executive Willy Sun and Web 3.0 Pioneer Michael Gord. This board will provide strategic guidance for Alset's AI initiatives.

In March and May, the company secured approximately $7.6 million in financing through non-brokered private placements. Alset also listed its shares on the Frankfurt Stock Exchange in March and the OTC Market in April, receiving Depository Trust Company (DTC) eligibility for easier trading access in the U.S.

Alset's investee company, Cedarcross International Technologies Inc., announced a $3.7 million secured loan for purchasing Nvidia H100 HGX 8GPU servers. Cedarcross also entered into a two-year AI computing leasing agreement expected to generate around $5.5 million in revenue.

Additionally, Cedarcross signed an agreement for distributing 64 Nvidia H100 Servers, aiming to generate $26 million. Vertex AI Ventures Inc., another Alset investee, announced a strategic partnership with Nom Nom AI Inc. to enhance business intelligence and innovation.