CORRECTION: Predictiv AI Announces Termination Of The Shift Technologies & HouseStack Holdings Transaction
Predictiv AI (TSXVNEX:PAI.H, OTC:INOTF, FSE:71TA) has announced the termination of its previously announced letter of intent (LOI) dated August 2, 2024, with Shift Technologies Canada and HouseStack Holdings. The proposed reverse takeover transaction (RTO) will not proceed as planned.
Trading of the company's common shares has been halted since the initial RTO announcement in August 2024. Predictiv AI will now apply to the NEX board of the TSXV to resume trading of its common shares.
Predictiv AI (TSXVNEX:PAI.H, OTC:INOTF, FSE:71TA) ha annunciato la cessazione della lettera di intenti (LOI) precedentemente annunciata, datata 2 agosto 2024, con Shift Technologies Canada e HouseStack Holdings. La proposta di transazione di acquisizione inversa (RTO) non procederà come previsto.
Il trading delle azioni ordinarie della società è stato sospeso dall'annuncio iniziale dell'RTO nell'agosto 2024. Predictiv AI presenterà ora una domanda al consiglio NEX del TSXV per riprendere il trading delle sue azioni ordinarie.
Predictiv AI (TSXVNEX:PAI.H, OTC:INOTF, FSE:71TA) ha anunciado la terminación de su carta de intención (LOI) previamente anunciada, fechada el 2 de agosto de 2024, con Shift Technologies Canada y HouseStack Holdings. La transacción de adquisición inversa propuesta (RTO) no procederá como estaba previsto.
La negociación de las acciones ordinarias de la compañía ha sido detenida desde el anuncio inicial del RTO en agosto de 2024. Predictiv AI ahora solicitará a la junta NEX del TSXV reanudar la negociación de sus acciones ordinarias.
Predictiv AI (TSXVNEX:PAI.H, OTC:INOTF, FSE:71TA)는 2024년 8월 2일에 Shift Technologies Canada 및 HouseStack Holdings와의 서면 의향서(LOI) 종료를 발표했습니다. 제안된 역 인수 거래(RTO)는 계획대로 진행되지 않을 것입니다.
회사의 보통주 거래는 2024년 8월 RTO 발표 이후 중단되었습니다. Predictiv AI는 이제 TSXV의 NEX 위원회에 보통주 거래 재개를 신청할 것입니다.
Predictiv AI (TSXVNEX:PAI.H, OTC:INOTF, FSE:71TA) a annoncé la résiliation de sa lettre d'intention (LOI) précédemment annoncée, datée du 2 août 2024, avec Shift Technologies Canada et HouseStack Holdings. La transaction de prise de contrôle inversée (RTO) proposée ne se déroulera pas comme prévu.
Le trading des actions ordinaires de la société a été suspendu depuis l'annonce initiale de la RTO en août 2024. Predictiv AI fera maintenant une demande au conseil NEX de la TSXV pour reprendre le trading de ses actions ordinaires.
Predictiv AI (TSXVNEX:PAI.H, OTC:INOTF, FSE:71TA) hat die Beendigung des zuvor angekündigten Absichtsschreibens (LOI) vom 2. August 2024 mit Shift Technologies Canada und HouseStack Holdings bekannt gegeben. Die vorgeschlagene Reverse-Takeover-Transaktion (RTO) wird nicht wie geplant durchgeführt.
Der Handel mit den Stammaktien des Unternehmens wurde seit der ursprünglichen RTO-Ankündigung im August 2024 ausgesetzt. Predictiv AI wird nun beim NEX-Vorstand der TSXV einen Antrag auf Wiederaufnahme des Handels mit seinen Stammaktien stellen.
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This news release is to correct the news release disseminated on February 13, 2025 at 6:00PM to update the headline.
TORONTO, ON / ACCESS Newswire / February 14, 2025 / Predictiv AI Inc. (TSXVNEX:PAI.H)(OTC PINK:INOTF)(FSE:71TA) ("Predictiv AI", "PAI" or the "Company"), www.predictiv.ai, announces that the previously announced letter of intent dated August 2, 2024 between the Company and Shift Technologies Canada Inc. and HouseStack Holdings Inc (the "LOI") has been terminated in accordance with the terms of the LOI and the proposed reverse takeover transaction will not proceed (see the Company's press release of August 8, 2024).
Trading in the common shares of the Company has been halted since the initial announcement of the RTO in August 2024. The Company will apply to the NEX board of the TSXV to recommence trading of the Company's common shares.
Facebook: https://www.facebook.com/PredictivAI/
Twitter: https://twitter.com/predictivai
LinkedIn: https://www.linkedin.com/company/predictivai/
Company Contact:
Jim Grimes, Chairman & CEO
Phone: 416-500-7117
Email: jgrimes@predictiv.ai
About Predictiv AI Inc.
Predictiv AI Inc. ("Predictiv AI" or "PAI") www.predictiv.ai is a technology company which helps businesses and organizations make smarter decisions using advanced artificial intelligence, deep machine learning and data science techniques. Its Weather Telematics Inc. subsidiary has used patented air quality monitoring sensors to provide predictive weather risk information to the insurance, logistics, fleet management and public safety sectors. The Company's R&D division, AI Labs Inc., has developed new products that solve real-world business problems. Due to financial constraints, Predictiv AI's operations have been put on hold.
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.
This news release does not constitute an offer to sell and is not a solicitation of an offer to buy any securities in the United States. The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to "U.S. Persons" (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms of the RTO Financing and the timing of completion of the RTO. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the Company's ability to complete the RTO; delays involved in completing the RTO; the Company's ability to complete, or delays in completing, the RTO Financing; the Company's ability to receive TSXV approval for the RTO Financing; the state of the financial markets for the Company's securities; the Company's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The forward-looking statements contained in this press release are made as of the date of this press release. the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The securities referred to in this press release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
SOURCE: Predictiv AI, Inc.
View the original press release on ACCESS Newswire
FAQ
Why did Predictiv AI (INOTF) terminate the Shift Technologies and HouseStack Holdings transaction?
When will INOTF stock resume trading after the February 2025 transaction termination?
How long has INOTF stock been halted due to the Shift Technologies RTO?
What was the original date of the terminated LOI between Predictiv AI (INOTF) and Shift Technologies?
Which stock exchanges is Predictiv AI (INOTF) listed on as of February 2025?
