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Alset Capital Inc. Completes First Tranche of Major Investment Round

Alset Capital Inc. announced the successful closure of the first tranche of a non-brokered private placement, totaling approximately $1.41 million in gross proceeds. This round involved the issuance of over 5.6 million units, each consisting of one common share and a half warrant, allowing the purchase of additional shares at $0.40 for the next 36 months.

The funds raised are earmarked for capital expenditures, working capital, and other corporate purposes. The full offering is expected to extend into additional tranches, with the next scheduled for May 17, 2024, aiming to accumulate an additional $200,000 from 800,000 units.

In accordance with the transaction, Alset Capital paid nominal finder’s fees and issued several finder’s warrants. Additionally, all securities issued are subject to a four-month hold period as mandated by securities legislation. Beacon Securities Limited serves as the financial advisor for this transaction.

R. P.

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