Alset AI Announces Leadership Transition and New Director Appointments

VANCOUVER, BC / ACCESSWIRE / September 23, 2024 / Alset AI Ventures Inc. (TSXV:GPUS)(OTC:ALSCF)(FSE:1R60, WKN:A3ESVQ)("Alset AI" or the "Company") announces changes to its directors and officers, audit committee, and the grant of stock options.

Alset AI Management Changes

Effective September 20, 2024, Mr. Morgan Good has resigned from his positions as Chief Executive Officer (CEO) and Director of the Company. Additionally, Mr. Jeremy Hanson has resigned from his role as Director.

The Company is pleased to announce the appointment of Mr. Zelong (Roger) He as Interim CEO and Mr. Jack Huang as an independent Director, ensuring a smooth leadership transition.

Mr. Huang is a co-founder of Katalyst Chartered Professional Accountants. He specializes in business consulting, merger and acquisition, and reorganization and restructuring of businesses. He is experienced in working with both private and young public companies, guiding them through early system setup and cashflow management, and planning corporate structure for tax efficiency. Graduating from the University of British Columbia in 2008 and completing his Masters degree with the University of Washington in 2010, Mr. Huang received his Chartered Professional Accountant (CPA) designation and has completed the CPA In-Depth Tax Program.

The Company extends its gratitude to both Mr. Good and Mr. Hanson for their contributions and wishes them success in their future endeavors.

Mr. He stated: "I am honored to step into the role of Interim CEO at Alset AI during this pivotal time for the company," said Zelong (Roger) He, Interim CEO. "With our ongoing focus on innovation and growth in the AI sector, I am confident we can build upon the strong foundation already in place. I look forward to working closely with our team to advance our strategic initiatives and create value for our shareholders."

Alset AI Audit Committee Changes

The Company has also restructured its audit committee. Mr. Hanson has resigned from the audit committee, and the vacancy has been filled by Mr. Huang, who will also serve as the Chair of the audit committee. The current members of the audit committee are Mr. Huang, Mr. He, and Mr. Leighton Bocking.

Stock Option Grant

The Company further announces the grant of 4,250,000 stock options to certain directors and consultants of the Company. Each option is exercisable into one common share of the Company at a price of $0.06 per Share. The options will vest immediately and will expire three (3) years from the date of grant.

On behalf of Alset AI Ventures Inc.

"Zelong (Roger) He"

Zelong Roger He

Interim Chief Executive Officer

About Alset AI Ventures Inc.

Alset AI Ventures Inc. is an investment issuer that is focused on investments in the technology industry, including but not limited to artificial intelligence. The Company is led by an experienced, entrepreneurial group of executives having a diverse industry and capital markets background.

Alset AI Ventures Inc.'s investment portfolio is currently comprised of 49% ownership of Cedarcross International Technologies Inc. and 49% ownership of Vertex AI Ventures Inc.

For further information about Alset AI Ventures Inc., please contact:

Zelong (Roger) He, Interim CEO and Director
T: 778.223.8853
E: roger@alsetai.com

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.

SOURCE: Alset AI Ventures Inc.