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Generative AI Solutions Corp. (formerly Idle Lifestyle) has received approval from the Canadian Securities Exchange (CSE) to list its Common Shares under the symbol AICO, with trading commencing on April 19, 2023. This follows a business combination with Ultron Capital Corp, finalized on April 17, 2023, where GenAI acquired all securities of Ultron for 51,176,001 Common Shares. The company aims to lead in AI innovation, developing solutions across multiple sectors, including healthcare and finance. CEO Ryan Selby highlighted the potential of their AI solutions, such as 'Classmate,' which assists students in their studies. The board of directors was reconstituted following the transaction, with Selby as CEO and Paul Ciullo as CFO. Shareholder approvals were secured at meetings conducted on April 11, 2023, meeting regulatory conditions for the transaction.
Generative AI Solutions Corp. (formerly Idle Lifestyle Solutions Inc.) announced a name change to reflect a new focus on artificial intelligence and machine learning. This change will take effect on February 13, 2023, along with a share consolidation, converting 30 pre-consolidated shares into 1 post-consolidated share. Approximately 4.7 million Subordinate Shares will be outstanding post-consolidation. The company also provided an update on a potential business transaction in the AI technology sector, continuing negotiations for a definitive agreement. Share trading is halted pending documentation for the proposed transaction.
Idle Lifestyle Inc. (OTC: IDLSF) announced a non-binding letter of intent with Ultron Capital Corp. to initiate a reverse takeover, dated January 25, 2023. The transaction will create a new entity focused on artificial intelligence, utilizing machine learning to enhance decision-making in education. The completion of this transaction is conditional on exchange and shareholder approvals, and no guarantees can be made regarding its successful execution. The company will provide further announcements detailing the transaction once the definitive agreement is signed.
IDLE Lifestyle Inc. (CSE: IDLE.X OTC: IDLSF) has announced significant changes within its management team as of September 1, 2022. Patrick Gray has been appointed as the new Chief Executive Officer, while Jordan Crockett joins as a Director. The company has also seen the resignations of three key personnel: Ryan Selby as CEO and Director, Ryan Karkairan as Vice-President Design and Director, and Paul Ciullo as Chief Financial Officer. IDLE expressed gratitude for their service, marking a new chapter in leadership.
IDLE Lifestyle Inc. (CSE: IDLE, OTC: IDLSF) has declared a special dividend of CDN$0.41 per share for both Subordinate Voting Shares (SVS) and Multiple Voting Shares (MVS), totaling approximately CDN$68.2 million. The payment is scheduled for August 10, 2022, with a record date of August 3, 2022. This distribution is part of a return of capital totaling CDN$28 million and dividends of CDN$40.2 million, following the sale of company assets to Altria Client Services LLC for US$100.5 million on June 24, 2022. Post-distribution, IDLE will retain about CDN$1 million for new business opportunities.
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