Alset AI Provides Corporate and Operational Update

Alset AI Ventures Inc. has announced key developments that enhance its financial position and operational capabilities. Most notably, the company is set to receive CAD$3.7 million plus interest from Cedarcross in repayment of a secured loan. This move significantly strengthens Alset's balance sheet and enables further investment in AI technologies.

In addition, Cedarcross, a portfolio company of Alset AI, has secured an agreement to sell thirteen Nvidia H100 HGX 8GPU servers to Ceti AI for approximately CAD$5,828,665. This includes the sale of eight servers from its existing inventory and five additional sourced servers. An amending agreement also allows Ceti AI to substitute these for Nvidia H200 HPC devices.

Cedarcross has also finalized an amended two-year compute leasing agreement with Infocube, entailing the lease of two HPCs for CAD$34,721 per month. Additionally, a one-time disruption fee of CAD$353,381 will be paid by Infocube by year-end.

Further, Alset AI has reduced the interest rate on its loan to Cedarcross from 15% to 7.5%. The loan principal will be repaid using funds from the server sales. These repayments will clear the outstanding Indebtedness, leading to the removal of all associated liens and securities.

The company also announced the resignation of CFO Anu Thomas and the appointment of a new Audit Committee, chaired by Zelong (Roger) He, CFA.