Business
Alset AI Announces Closing of First Tranche of Loan Transaction of up to $3 Million
VANCOUVER, BC / ACCESS Newswire / February 25, 2026 /Alset AI Ventures Inc. (TSXV:GPUS)(OTC:GPUSF)(FSE:1R60, WKN:A40M0J) ("Alset AI" or the "Company") an artificial intelligence ("AI") venture company advancing innovation through strategic investment ...
About this update from Alset Ai Ventures Inc
[{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / February 25, 2026 / Alset AI Ventures Inc. (TSXV:GPUS)(OTC: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, further to its press releases dated October 17, 2025 and February 19, 2026, the Company closed the first tranche (the "First Tranche") of a loan transaction with Mr. Randy Gilling (the "Lender") in the principal amount of up to $3,000,000 (the "Transaction"). The Lender advanced $500,000 in the First Tranche. The Lender is an insider of the Company, holding greater than 10% of the issued and outstanding common shares on the capital of the Company ("Common Shares").","length":851,"tagName":"p"},{"type":"text","content":"First Tranche","length":13,"tagName":"p"},{"type":"text","content":"Pursuant to the closing of the First Tranche, on February 24, 2026 (the "Effective Date"), the Company issued 500 non-convertible debentures (each, a "Debenture", and collectively, the "Debentures") at a price of $1,000 per Debenture, in the aggregate principal amount of $500,000. The Debentures will bear interest at a rate of 6.0% per annum from the Effective Date, payable in cash or Common Shares, in the Company's sole discretion, subject to the prior approval of the TSXV Venture Exchange (the "TSXV"), and will mature on the date that is three years following the Effective Date. The Debentures are being governed pursuant to the terms of a debenture indenture dated February 24, 2026 entered into between the Company and Endeavor Trust Corporation, as trustee (the "Indenture"). Pursuant to applicable securities laws, the Debentures are subject to a hold period of four months plus one day.","length":954,"tagName":"p"},{"type":"text","content":"In connection with the closing of the First Tranche, the Company also issued to the Lender 3,333,333 non-transferrable warrants (the "Warrants"), subject to the final approval of the TSXV, each exercisable into one Common Share at a price of $0.15 until until three years from the Effective Date. Pursuant to the policies of the TSXV, the Warrants, and the Common Shares issu...