Business
Alset AI Acquires Chaco Minerals Debenture Adding Approximately $1.3 Million Investment to Balance Sheet to Offset Lyken.AI Receivables and Strengthen Investment Portfolio
Transaction Provides Exposure for Alset AI to Important Critical Minerals in the Global Energy Tr...
About this update from Alset Ai Ventures Inc
[{"type":"text","content":"Alset AI Acquires Chaco Minerals Debenture Adding Approximately $1.3 Million Investment to Balance Sheet to Offset Lyken.AI Receivables and Strengthen Investment PortfolioTransaction Provides Exposure for Alset AI to Important Critical Minerals in the Global Energy Transition while Improving Lyken.AI's Financial Position as it Pursues Strategic Growth Opportunities VANCOUVER, BC / ACCESS Newswire / May 6, 2026 / Alset AI Ventures Inc. (TSXV:GPUS)(OTCQB:GPUSF)(FSE:1R60)(WKN: A40M0J) (\"Alset AI\" or the \"Company\"), an artificial intelligence (\"AI\") venture company advancing innovation through strategic investment and cloud computing solutions, is pleased to announce that it has entered into an assignment and assumption agreement dated May 6, 2026 with its portfolio company Lyken AI Computing Inc. (dba Lyken.AI) (\"Lyken\"), pursuant to which it has acquired an unsecured convertible debenture issued by 1000175307 Ontario Ltd. (dba Chaco Minerals) (\"Chaco\") in the principal amount of $1,248,000 (the \"Debenture\") in consideration for the reduction of amounts owing to the Company pursuant to certain loans provided by the Company to Lyken (the \"Assignment\").The Debenture was originally issued by Chaco on December 9, 2024 (the \"Issuance Date\"), bears interest at a rate of 3.0% per annum, and will mature on December 9, 2026. Subject to early redemption by Chaco, Alset may convert the principal amount, plus accrued but unpaid interest, into units of Chaco consisting of one common share and one warrant at a price of $0.10 per unit. The Company and Lyken valued the Debenture at $1,301,077.00, calculated as the principal amount plus accrued but unpaid interest since the Issuance Date. Following completion of the Assignment, total amounts owing from Lyken to Alset have been reduced from $1,643,037.52 to $341,960.52.The Company believes the Assignment is strategically meaningful as it converts an intercompany receivable into an investment asset, thereby strengthening Alset AI's investment portfolio and enhancing its balance sheet. Further, it materially improves Lyken.AI's balance sheet by reducing debts owing to the Company, providing greater financial flexibility as Lyken.AI continues to pursue strategic growth opportunities in cloud compute and AI infrastructure.Chaco is a lithium exploration company focused on Paraguay's emerg...