BRANDPILOT AI INC - UPIPF STOCK NEWS

BrandPilot AI (BPAI), formerly Universal PropTech, announced the closing of its business transaction with Xemoto Media. The deal involved exchanging 0.225 BPAI shares for each Xemoto share, resulting in 91,193,005 BPAI shares outstanding. Post-transaction, Xemoto shareholders hold 46.03% and BPAI shareholders hold 53.97% of the undiluted shares. BPAI will now focus on digital marketing and technology services. The company expects to start trading on the Canadian Securities Exchange (CSE) under 'BPAI' by July 9, 2024. A new board and management team have been appointed, including CEO Brandon Mina. More information will be available on SEDAR+.

Universal PropTech Inc. (UPI) announced a name change to BrandPilot AI Inc. This rebranding aligns with a proposed business combination with Xemoto Media , as detailed in previous press releases from February 6, 2024, and May 29, 2024. The company's shares are expected to trade under the new symbol 'BPAI' on the Canadian Securities Exchange following the transaction's closure.

Universal PropTech (TSXV: UPI.H) and Xemoto Media have received conditional approval from the Canadian Securities Exchange (CSE) to list the common shares of the resulting issuer, BrandPilot AI. This follows the previously announced merger between UPI and Xemoto. The listing is subject to completion of the business combination and satisfaction of CSE conditions, including necessary documentation and fee payment. The business combination is expected to close by June 30, 2024.

In conjunction with the merger, UPI will voluntarily delist from the NEX Board of the TSX Venture Exchange. Xemoto's shareholders approved the transaction and reappointment of directors at their meeting on June 7, 2024. Additionally, UPI confirmed past issuances of common shares to Agora Internet Relations Corp. for advertisement services.

Universal PropTech has announced the results of its annual general and special shareholder meeting held on May 31, 2024. Approximately 23% of the company's outstanding shares were voted by proxy. Key resolutions approved include the re-appointment of MNP LLP as auditor, election of new directors, a proposed change in the company's business to a marketing and technology focus, and a name change to BrandPilot AI Inc. The company will also delist from the NEX board of the TSXV and list on the Canadian Securities Exchange. CEO Jeff Berman expressed confidence in these changes creating significant value for shareholders, while incoming CEO Brandon Mina highlighted his excitement about the company's future growth.

Universal PropTech announced the appointment of John Beresford as Chief Revenue Officer for its acquisition target, Xemoto Media. Beresford, co-founder and former CEO of Socialpeeks, brings over 20 years of experience in technology and sales, including roles at Inpixon and BlackBerry. He will oversee corporate strategy, product development, and revenue operations. Xemoto CEO Brandon Mina expressed confidence that Beresford's expertise will drive the company's next growth phase.

Universal PropTech (UPI) has announced plans for a business combination with Xemoto Media , which will be renamed BrandPilot AI upon completion. This strategic shift aims to transition from an agency model to a software company, focusing on AI-driven marketing solutions. The rebrand is pending shareholder approval at the upcoming meeting on May 31, 2024.

BrandPilot AI's platform enables enterprise-level digital marketing campaigns, particularly in regulated industries like healthcare and financial services. The company offers tools for maximizing social media impact and building brand-influencer relationships, supported by a database of over 300 million influencers.

BrandPilot AI aims to combat fraudulent advertising practices and will unveil its corporate overview on June 7, 2024. The company is committed to ongoing innovation, forming strategic partnerships, and ensuring compliance in its marketing solutions.

Universal PropTech Inc. (UPI) plans to acquire Xemoto Media Ltd. to expand its influencer marketing capabilities. Xemoto's technology helps businesses in complex and regulated industries connect with customers. Xemoto achieved revenue of $306k in its first fiscal year, with a 41x increase in Q1 FY24 revenue. Subscription sales have been increasing, reaching $135k in August 2023. UPI will advance $250,000 to Xemoto as part of the acquisition. Upon completion of the transaction, the Resulting Issuer will have approximately $3 million in cash available.

Universal PropTech Inc. announces the appointment of Brian Illion to the board of directors and Amy Stephenson as Chief Financial Officer. Mr. Illion is a civil litigation and employment law lawyer with experience in managing commercial agreements. Ms. Stephenson has over 20 years' experience in capital markets and managing public companies. She has served as CFO for various cannabis companies.

Universal PropTech Inc. (TSXV: UPI) announced the resignation of Chris Hazelton, President and CEO, and the appointment of Jeffrey Berman as the new President and CEO. Hazelton led the company for nine years and Berman is expected to bring renewed thinking and opportunities. Berman is a trial lawyer with experience in litigating cases in Ontario and has a background in commerce, finance, and marketing.