Generative AI Solutions Corp. Proposes Amendments to Outstanding Warrants

Proposed Amendments to Outstanding Warrants

Generative AI Solutions Corp. (GenAI), a pioneering artificial intelligence company, has announced proposed amendments to certain outstanding warrants 1

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. The company is seeking to modify the terms of 9,595,531 common share purchase warrants that were issued as part of a private placement financing that closed on June 6, 2023 1

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Key Changes to Warrant Terms

The proposed amendments include two significant changes:

1. A reduction in the exercise price from C$1.65 to C$0.17 per share issuable upon exercise of each warrant 1

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2. An extension of the expiry date from June 6, 2025, to June 6, 2028 1

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These changes are subject to approval from the Canadian Securities Exchange (CSE) 1

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Implementation and Conditions

If approved by the CSE, the proposed amendments will automatically become effective as of the new expiry date and time of the warrants 1

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. Until the original expiry date, the warrants will remain in force under their original terms and conditions 1

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It's important to note that none of the warrants are beneficially owned by related parties of GenAI, and none are listed on the CSE 1

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. The proposed amendments do not apply to any warrants issued to finders or agents as compensation 1

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Company Profile and Strategy

GenAI is focused on developing a vertically integrated AI solutions business through its proprietary MAI Cloud™ platform 1

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. The company aims to create and commercialize AI-powered tools and solutions for businesses and consumers across multiple industries 1

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GenAI's mission is to harness AI technology to develop transformative products and services 1

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. The company leverages its expertise in machine learning, natural language processing, and data analytics to build versatile high-performance tools 1

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Forward-Looking Statements and Risks

The news release contains forward-looking statements, which are subject to various risks and uncertainties 1

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. These statements are based on certain assumptions, including the company's ability to continue as a going concern, develop revenue-generating applications, and maintain regulatory approvals 1

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Investors are cautioned that actual results may differ from those anticipated in the forward-looking statements 1

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. The company undertakes no obligation to update or revise these statements, except as required by law 1

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Investor Information

Warrant holders can contact the company at [email protected] for questions or to exercise their warrants 1

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. The original warrant certificates, along with completed exercise forms and payments, will be accepted according to the instructions provided on the certificates 1

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