Breaking AI Stock News: Alset Capital Inc. (TSXV: $KSUM.V; OTC:
$ALSCF) Expands US Investor Reach with OTC
Listing Under Symbol ALSCF; @AlsetAI
THIS
NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE
UNITED STATES
Company's
common shares available for trading on U.S exchange
VANCOUVER, BC, May 2, 2024, (Investorideas.com Newswire) Alset Capital Inc. (TSXV:KSUM) (OTC:ALSCF) (FSE:1R60, WKN:A3ESVQ) ("Alset"
or the "Company") is pleased to announce that its common shares have
commenced trading on the OTC Pink Market (the "OTC") under the symbol
"ALSCF" effective April 26, 2024. The Company has also received The
Depository Trust Company (the "DTC") eligibility in the United
States, thus allowing the Company's stock to be more easily traded by and
accessible to US institutional and retail investors. The Company's common
shares will continue to trade on the TSX Venture Exchange under the symbol
KSUM.
Read
this in full at https://www.investorideas.com/news/2024/technology/05021KSUM-OTC-Listing-ALSCF.asp
"Listing
Alset on the OTC market and making our shares DTC eligible marks another
milestone toward enabling more investors to be part of our ongoing progress.
With both DTC eligibility and listing on the OTC, trading of Alset's shares
will be easier and made possible to a wider investor audience in the United
States," said Morgan Good, CEO of Alset. "After completing our fully
subscribed C$6 million financing in March, closing significant cloud compute
leasing and high-performance computing distribution contracts with cumulative
revenue expectations of C$7.8M to date, and continuing to scale our business
leveraging multiple unique relationships and partnerships with notable US-based
strategic partners, we feel confident about our ability to generate value for
our shareholders and improve stock liquidity. This listing enables us to deepen
and widen awareness of the unfolding Alset story among both institutional and
retail investors in the US."
The
OTC Pink Market allows early-stage and developing companies the benefit of
being publicly traded in the United States. The Company expects that listing on
the OTC Pink Market and DTC eligibility will provide greater visibility and
convenience of trading for U.S. investors, resulting in enhanced U.S. trading liquidity
and greater reach.
The
common shares are also eligible for electronic clearing and settlement in the
United States through the DTC. DTC eligibility is expected to simplify the
process of trading and to enhance liquidity of the Shares in the United States.
DTC is a subsidiary of the Depository Trust & Clearing Corp., a US company
that manages the electronic clearing and settlement of publicly traded
companies. Securities that are eligible to be electronically cleared and
settled through DTC are considered to be DTC eligible. This electronic method
of clearing securities speeds up the receipt of stock and cash, and thus
accelerates the settlement process for investors and brokers, enabling the
stock to be traded over a much wider selection of brokerage firms by coming
into compliance with their requirements.
On
behalf of Alset Capital Inc.
"Morgan
Good"
Morgan
Good
Chief
Executive Officer
About Alset Capital Inc.
Alset
Capital Inc. is an investment issuer that is focused on investment in diversified
industries such as technology, healthcare, industrial, special situations,
operating businesses through both debt and equity using cash resources or
shares in its capital. The Company is led by an experienced, entrepreneurial
group of executives having a diverse industry and capital markets background.
Alset
Capital Inc.'s investment portfolio comprises 49% ownership of Cedarcross
International Technologies Inc. and 49% ownership of Vertex AI Ventures Inc.
About Cedarcross International
Technologies Inc.
Cedarcross
is an Artificial Intelligence cloud computing provider, with a vision of
becoming one of Canada's largest AI compute providers. The Company is dedicated
to democratizing access to cutting-edge AI computing, offering access to the
world's fastest AI servers powered by Nvidia's H100 HGX 8GPU Servers. Focused
on leasing compute resources to enterprise clients, Cedarcross anticipates
significant revenue growth.
For further information about Alset
Capital Inc., please contact:
Morgan
Good, CEO and Director
T:
604.715.4751
Cautionary Note regarding Forward
Looking Statements
Certain
statements in this press release may contain forward-looking information
(within the meaning of Canadian securities legislation), including, without
limitation, the perceived benefits to the Company and investors stemming from
the OTC listing and DTC eligibility.These statements address future events and
conditions and, as such, involve known and unknown risks, uncertainties, and
other factors, which may cause the actual results, performance, or achievements
to be materially different from any future results, performance, or
achievements expressed or implied by the statements. Forward-looking statements
speak only as of the date those statements are made. Although the Company
believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in the
forward-looking statements. Factors that could cause the actual results to
differ materially from those in forward-looking statements include regulatory
actions, market prices, and continued availability of capital and financing,
and general economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance and actual
results or developments may differ materially from those projected in the
forward-looking statements. Forward-looking statements are based on the
beliefs, estimates and opinions of the Company's management on the date the
statements are made. Except as required by applicable law, the Company assumes
no obligation to update or to publicly announce the results of any change to
any forward-looking statement contained or incorporated by reference herein to
reflect actual results, future events or developments, changes in assumptions,
or changes in other factors affecting the forward-looking statements. If the
Company updates any forward-looking statement(s), no inference should be drawn
that it will make additional updates with respect to those or other
forward-looking statements.
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 Capital Inc.
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