Alset Capital Inc. (TSXV:KSUM.H) signed an agreement to acquire 49 percent stake in Vertex AI Ventures Inc. for CAD 0.6 million on January 9, 2024. Pursuant to the terms of the Agreement, the Company will acquire 49.0% of the issued and outstanding Vertex Share. As consideration for the Vertex Interest, the Company will issue an aggregate of 12 million common shares in the capital of the Company at a deemed price of CAD 0.05 per Payment Share, for total consideration of CAD 0.6 million.

Completion of the proposed Transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange, including the NEX Board acceptance. All securities issued in connection with the Transaction are subject to a statutory hold period of four (4) months and one (1) day from the date of issuance, in accordance with applicable securities legislation.