Alset AI Ventures to settle $511,000 debt through share issuance

Alset AI Ventures Inc. has entered into debt settlement agreements to clear approximately $511,179 owed to various arm's length creditors. This total includes obligations held by its wholly-owned subsidiary, Cedarcross International Technologies Inc.

The company intends to settle the debt by issuing 3,098,059 common shares at a price of $0.165 per share. The board of directors stated that this strategy is intended to preserve cash for operations, improve the company's balance sheet, and support prudent financial management.

The issuance of these shares remains subject to approval from the TSX Venture Exchange. Additionally, the new shares will be subject to a mandatory hold period of four months and one day in accordance with applicable securities laws.