GENAI ANNOUNCES CHANGE OF MANAGEMENT AND APPOINTMENT OF PATRICK GRAY AS CEO
Generative AI Solutions Corp. (CSE: AICO, OTCQB: AICOF) has announced the appointment of Patrick Gray as Chief Executive Officer and director, effective January 6, 2025. Gray, who served as Chief Operating Officer since December 2023, replaces Ryan Selby, who has resigned from his positions as officer and director.
Gray brings significant expertise as President and Founder of an IT service provider specializing in software development, AI and Data Analytics, and legal technology services. The company will convert $145,000 of accrued unpaid fees to common shares and issue 4,000,000 common shares to Selby at $0.09 per share as part of his resignation terms. These shares will be subject to a four-month hold period.
Generative AI Solutions Corp. (CSE: AICO, OTCQB: AICOF) ha annunciato la nomina di Patrick Gray come Amministratore Delegato e direttore, con effetto dal 6 gennaio 2025. Gray, che ha ricoperto il ruolo di Chief Operating Officer da dicembre 2023, subentra a Ryan Selby, che si è dimesso dai suoi incarichi come dirigente e direttore.
Gray porta con sé un'esperienza significativa come Presidente e Fondatore di un fornitore di servizi IT specializzato nello sviluppo software, nell'intelligenza artificiale e nell'analisi dei dati, nonché nei servizi di tecnologia legale. L'azienda convertirà 145.000 dollari di spese accumulate non pagate in azioni ordinarie e emetterà 4.000.000 di azioni ordinarie a Selby a 0,09 dollari per azione come parte delle condizioni della sua dimissione. Queste azioni saranno soggette a un periodo di blocco di quattro mesi.
Generative AI Solutions Corp. (CSE: AICO, OTCQB: AICOF) ha anunciado el nombramiento de Patrick Gray como director ejecutivo y director, efectivo el 6 de enero de 2025. Gray, que ha sido director de operaciones desde diciembre de 2023, reemplaza a Ryan Selby, quien ha renunciado a sus cargos como oficial y director.
Gray aporta una experiencia significativa como presidente y fundador de un proveedor de servicios de TI especializado en desarrollo de software, inteligencia artificial y análisis de datos, así como en servicios de tecnología legal. La empresa convertirá 145,000 dólares de honorarios acumulados no pagados en acciones comunes y emitirá 4,000,000 de acciones comunes a Selby a 0.09 dólares por acción como parte de las condiciones de su renuncia. Estas acciones estarán sujetas a un periodo de retención de cuatro meses.
Generative AI Solutions Corp. (CSE: AICO, OTCQB: AICOF)은 Patrick Gray를 최고 경영자 및 이사로 임명했다고 발표했습니다. 임기는 2025년 1월 6일부터 시작됩니다. Gray는 2023년 12월부터 최고 운영 책임자로 재직해왔으며, 이번에 직무를 사임한 Ryan Selby를 대신하게 됩니다.
Gray는 소프트웨어 개발, 인공지능 및 데이터 분석, 법률 기술 서비스 전문 IT 서비스 제공업체의 회장 겸 창립자로서 상당한 전문성을 가지고 있습니다. 회사는 미지급 누적 수수료 145,000달러를 보통주로 전환하고, Selby에게 주당 0.09달러로 4,000,000주의 보통주를 발행할 것입니다. 이 주식은 4개월의 유예 기간이 적용됩니다.
Generative AI Solutions Corp. (CSE: AICO, OTCQB: AICOF) a annoncé la nomination de Patrick Gray en tant que directeur général et administrateur, à compter du 6 janvier 2025. Gray, qui a occupé le poste de directeur des opérations depuis décembre 2023, remplace Ryan Selby, qui a démissionné de ses fonctions de dirigeant et d'administrateur.
Gray apporte une expertise significative en tant que président et fondateur d'un fournisseur de services informatiques spécialisé dans le développement de logiciels, l'IA et l'analyse de données, ainsi que dans les services de technologie juridique. L'entreprise convertira 145 000 dollars de frais accumulés non payés en actions ordinaires et émettra 4 000 000 d'actions ordinaires à Selby au prix de 0,09 dollar par action dans le cadre des conditions de sa démission. Ces actions seront soumises à une période de blocage de quatre mois.
Generative AI Solutions Corp. (CSE: AICO, OTCQB: AICOF) hat die Ernennung von Patrick Gray zum Geschäftsführer und Direktor bekannt gegeben, die am 6. Januar 2025 wirksam wird. Gray, der seit Dezember 2023 als Chief Operating Officer tätig ist, ersetzt Ryan Selby, der von seinen Positionen als Offizier und Direktor zurückgetreten ist.
Gray bringt umfangreiche Erfahrung als Präsident und Gründer eines IT-Dienstleisters mit, der auf Softwareentwicklung, KI und Datenanalyse sowie Rechtsdienstleistungen spezialisiert ist. Das Unternehmen wird 145.000 Dollar an aufgelaufenen unbezahlten Gebühren in Stammaktien umwandeln und Selby 4.000.000 Stammaktien zu einem Preis von 0,09 Dollar pro Aktie als Teil seiner Abgangsbedingungen ausgeben. Diese Aktien unterliegen einer viermonatigen Haltefrist.
- New CEO brings extensive IT, AI, and Data Analytics expertise
- Smooth transition with new CEO previously serving as COO
- Clear settlement terms with departing CEO, avoiding potential disputes
- Significant share issuance of 4,000,000 shares causing dilution
- $145,000 in unpaid fees to former CEO indicates cash flow concerns
Mr. Ryan Selby, the former CEO of the Company, has resigned as an officer and director concurrently with Mr. Gray's appointment. The Company sincerely thanks Mr. Selby for his contributions and wishes him the greatest success in his further endeavors.
"Mr. Gray is the right leader to move the Company through the next stages of its growth, and I am pleased he is in a position to take over and continue to steer the Company through its next strategic phase," said Mr. Selby.
Mr. Gray was the Chief Operating Officer of the Company from December 2023 until his appointment as CEO. Mr. Gray is the President and Founder of an IT service provider that specializes in software development, AI and Data Analytics, software implementation services, public sector automation platforms, and legal technology services. The company has extensive expertise in utilizing Artificial Intelligence (AI) and Machine Learning (ML) in expert services to enhance document and data management capabilities.
"I am looking forward to moving into the Chief Executive seat, taking advantage of market conditions to grow the Company's business and using my industry knowledge and contacts to diversify the Company's holdings and business lines to drive shareholder value" said Mr. Gray.
In connection with Mr. Selby's resignation from the Company, the board of directors has agreed to convert to common shares of the Company (the "Accrual Shares")
On Behalf of the Board of Directors,
Patrick Gray
CEO, Director, and Chairman of the Board of Directors
Generative AI Solutions Corp.
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ABOUT GENERATIVE AI SOLUTIONS CORP.
GenAI is a pioneering artificial intelligence company focused on developing a vertically integrated AI solutions business through its proprietary MAI Cloud™ platform, with the development and commercialization of AI-powered tools and solutions for businesses and consumers across multiple industries. At GenAI, our mission is to harness the power of AI to create transformative products and services that benefit business and consumers across various sectors. Our team of talented AI professionals and engineers are dedicated to developing state-of-the-art AI-based solutions that have broad applicability and can be seamlessly integrated into diverse workflows. By leveraging our MAI Cloud™ platform and our expertise in machine learning, natural language processing, and data analytics, we build versatile high-performance tools that redefine efficiency, productivity, and user experience.
For more information on GenAI, please visit www.genai-solutions.com.
Forward-Looking Information and Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the Company's ability to continue to develop revenue generating applications; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; and the continued growth of the Company; and Company's ability to continue to meet the requirements of listing of the CSE.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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SOURCE GENERATIVE AI SOLUTIONS CORP.
FAQ
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