Alset AI Announces Full Repayment of $3.7 Million Secured Loan with Interest from Portfolio Company, Significantly Strengthening Balance Sheet
Alset AI Ventures announces the full repayment of a secured loan from portfolio company Cedarcross International Technologies. The repayment includes the principal amount of $3.7 million plus accrued interest of $224,815.75. This transaction significantly strengthens Alset AI's balance sheet, providing enhanced liquidity for new investments in AI technology and cloud computing ventures. The company plans to use the returned capital to expand its AI venture portfolio and pursue strategic growth opportunities in alignment with its investment policy.
Alset AI Ventures annuncia il rimborso completo di un prestito garantito da parte della società in portafoglio Cedarcross International Technologies. Il rimborso include l'importo principale di 3,7 milioni di dollari più interessi maturati di 224.815,75 dollari. Questa transazione rafforza significativamente il bilancio di Alset AI, fornendo una maggiore liquidità per nuovi investimenti nella tecnologia AI e nelle imprese di cloud computing. L'azienda intende utilizzare il capitale restituito per espandere il proprio portafoglio di venture in AI e perseguire opportunità di crescita strategica in linea con la sua politica di investimento.
Alset AI Ventures anuncia el reembolso total de un préstamo garantizado de la empresa en cartera Cedarcross International Technologies. El reembolso incluye el monto principal de 3,7 millones de dólares más intereses acumulados de 224,815.75 dólares. Esta transacción fortalece significativamente el balance de Alset AI, proporcionando una mayor liquidez para nuevas inversiones en tecnología de IA y empresas de computación en la nube. La compañía planea utilizar el capital retornado para expandir su portafolio de ventures en IA y perseguir oportunidades de crecimiento estratégico en alineación con su política de inversión.
Alset AI Ventures는 포트폴리오 회사인 Cedarcross International Technologies의 담보 대출을 전액 상환했다고 발표했습니다. 상환액에는 370만 달러의 원금과 224,815.75 달러의 이자가 포함됩니다. 이 거래는 Alset AI의 재무제표를 크게 강화하여 AI 기술 및 클라우드 컴퓨팅 사업에 대한 새로운 투자를 위한 유동성을 향상시킵니다. 회사는 반환된 자본을 사용하여 AI 벤처 포트폴리오를 확장하고 투자 정책에 맞춰 전략적 성장 기회를 추구할 계획입니다.
Alset AI Ventures annonce le remboursement intégral d’un prêt garanti par la société de portefeuille Cedarcross International Technologies. Le remboursement comprend le montant principal de 3,7 millions de dollars ainsi que des intérêts accumulés de 224 815,75 dollars. Cette transaction renforce considérablement le bilan d’Alset AI, offrant une liquidité accrue pour de nouveaux investissements dans la technologie IA et les entreprises de cloud computing. La société prévoit d’utiliser le capital restitué pour élargir son portefeuille de ventures en IA et poursuivre des opportunités de croissance stratégique en accord avec sa politique d’investissement.
Alset AI Ventures gibt die vollständige Rückzahlung eines gesicherten Darlehens von der Portfoliounternehmen Cedarcross International Technologies bekannt. Die Rückzahlung umfasst den Hauptbetrag von 3,7 Millionen Dollar sowie aufgelaufene Zinsen in Höhe von 224.815,75 Dollar. Diese Transaktion stärkt die Bilanz von Alset AI erheblich und bietet eine verbesserte Liquidität für neue Investitionen in KI-Technologie und Cloud-Computing-Unternehmen. Das Unternehmen plant, das zurückgegebene Kapital zu nutzen, um sein KI-Venture-Portfolio zu erweitern und strategische Wachstumschancen im Einklang mit seiner Investitionspolitik zu verfolgen.
- Full repayment of $3.7M secured loan received
- Additional $224,815.75 in interest income earned
- Strengthened balance sheet with improved liquidity
- Enhanced financial flexibility for new investments
- None.
VANCOUVER, BC / ACCESSWIRE / November 21, 2024 / Alset AI Ventures Inc. (TSXV:GPUS)(OTC:ALSCF)(FSE:1R60, WKN:A3ESVQ) ("Alset AI" or the "Company") an artificial intelligence (AI) venture company advancing innovation through strategic investment and cloud computing solutions, announces the full repayment of its approximately
This repayment, made in accordance with the Company and Cedarcross' Amended Secured Loan Agreement and Repayment and Release Agreement as disclosed in the Company's August 29, 2024 news release. The loan repayment includes the principal loan amount of
With the bolstered balance sheet from the loan repayment proceeds and interest, Alset AI gains the financial flexibility needed to actively expand its AI and cloud computing venture portfolio. This repayment not only accelerates the Company's plans to deepen its investments in AI technology and associated sectors but also reinforces the strategic alignment between Alset AI and its portfolio companies.
"This loan repayment strengthens our ability to strategically build an AI venture ecosystem that complements our core cloud computing business," said Adam Ingrao, CEO of Alset AI. "Our goal is to deploy capital into high-potential opportunities that drive strong returns and cash flow generation, reinforcing long-term value for our investors. This transaction underscores the success of our disciplined investment approach, enabling us to reinvest in ventures where we see growth potential."
The completion of this loan repayment further enhances Alset AI's capacity to accelerate its mission of supporting AI technologies and innovative cloud solutions. The Company remains focused on identifying and fostering high-growth investments that align with its vision and investment policy for sustained shareholder value.
In connection with the Repayment and Release Agreement dated August 15, 2024, the Company intends to file discharges, financing change statements, and any other necessary documents to remove registrations under the Personal Property Security Act (British Columbia) and to release any other liens or security interests associated with the previously executed Secured Loan Agreement and General Security Agreement with Cedarcross.
On behalf of Alset AI Ventures Inc.
"Adam Ingrao"
Adam Ingrao
Chief Executive Officer
About Alset AI Ventures Inc.
Alset AI is a pioneering AI and cloud computing investment firm, committed to nurturing high-potential technology companies. Through a combination of capital, strategic advisory, and cloud computing alliances, Alset AI is shaping the future of artificial intelligence and building an AI-focused venture capital platform poised for substantial growth.
For further information about Alset AI Ventures Inc., please contact:
Adam Ingrao, Chief Executive Officer
T: 778.223.8853
E: adam@alsetai.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements in this press release contain forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking statements are often identifiable by the use of words such as "anticipates," "expects," "believes," "intends," "plans," "forecasts," "may," "will," "could," "should," or similar expressions. These statements are based on Alset AI Ventures Inc.'s ("Alset AI" or the" Company") current expectations, estimates, and assumptions regarding future events and conditions, including, but not limited to, the anticipated impact of the loan repayment on Alset AI's financial flexibility, the Company's ability to pursue new investments, the Company's strategic plan, the Company's investment objectives, and the expected outcomes of the Company's AI and cloud computing investment strategy. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Factors that could cause actual results to differ materially include, but are not limited to: changes in the Company's financial or strategic priorities; the availability of suitable investment opportunities; the performance of the Company's portfolio companies, including Cedarcross; fluctuations in market demand for AI and cloud computing technologies; economic, regulatory, and market conditions; and other risks detailed in the Company's filings with Canadian securities regulators. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statements to reflect new information, future events, or otherwise, except as required by law. Investors are cautioned not to place undue reliance on forward-looking statements, as actual results may differ materially from those expressed or implied herein.
SOURCE: Alset AI Ventures Inc.
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FAQ
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When was the Repayment and Release Agreement with Cedarcross signed by Alset AI (ALSCF)?
