DEEPSPATIAL INC - DSAIF STOCK NEWS

Deepspatial (CSE:DSAI)(OTCQB:DSAIF) has been elected as an associate member of the World Geospatial Industry Council (WGIC) board, enhancing its role in the geospatial industry. This election illustrates Deepspatial's commitment to driving economic growth and social development through geospatial technology. Dr. Bushra Zaman, Director for Data Science, will represent the company on the board, promoting knowledge exchange and collaboration within the industry. Dr. Rahul Kushwah, CEO, expressed enthusiasm, emphasizing the opportunity to expand their influence globally and advocate for business interests. Additionally, Deepspatial issued 375,000 common shares to consultants at $0.06 each, with a hold period of four months. The company aims to provide innovative AI-driven solutions across various sectors.

Deepspatial Inc. (CSE:DSAI)(OTCQB:DSAIF) has successfully closed the final tranche of a non-brokered private placement of unsecured convertible debentures, raising $102,750. The debentures will accrue interest at 10% annually and mature in two years. Investors can convert the principal into units at a price of $0.15 per unit, which includes one common share and half a warrant, with the latter exercisable at $0.30 for two years. The proceeds will be utilized for general working capital. All resulting securities are subject to a hold period expiring on July 25, 2023.

Deepspatial (CSE:DSAI)(OTCQB:DSAIF) has secured a 3-year contract worth CAD $1.5M with the Government of Uttarakhand, India, to utilize its Geospatial AI platform. This initiative aims to enhance agriculture by enabling efficient crop-cutting experiments and on-field surveys, benefiting farmers and government officials. The Indian agriculture market was valued at USD 435.9 billion in 2022 and is expected to grow at a CAGR of 4.9% from 2023 to 2028. CEO Dr. Rahul Kushwah expressed optimism about future contracts and plans for dividends, indicating a focus on long-term shareholder value.

Deepspatial (CSE:DSAI; OTCQB:DSAIF) has partnered with the University of Southern California (USC) to leverage its Geospatial AI technology for public health initiatives. This collaboration aims to enhance decision-making in healthcare by utilizing population data, resulting in peer-reviewed publications. The partnership follows Deepspatial's participation at the 2022 UNESCO AI Conference, where it showcased its impact on community development. CEO Dr. Rahul Kushwah emphasizes that the partnership will both share expertise and contribute to sustainable development goals.

Deepspatial Inc. (CSE: DSAI)(OTCQB: DSAIF) announced the closing of a first tranche of a non-brokered private placement of unsecured convertible debentures, raising a total of $572,500. The debentures carry a 10% annual interest rate and mature in two years. Investors can convert them into units at a price of $0.15 each, with each unit comprising one share and half a warrant. If the share price reaches $0.30 for ten consecutive trading days, conversion will be mandatory. The proceeds will support general working capital.

Deepspatial has secured a significant contract with the Food, Civil Supplies, and Consumer Affairs Department of Meghalaya, marking its entry into a lucrative government sector. Utilizing its GeoAI Platform, the company will enhance public distribution services by providing targeted marketing intelligence. The market for geotargeted marketing is projected to grow from USD $10.7 Billion in 2020 to USD $32 Billion by 2025. This contract presents potential for expansion across various states in India, indicating a strategic growth opportunity for Deepspatial.