AlphaGen Announces Securities for Debt Settlement
VANCOUVER, British Columbia, Jan. 31, 2025 (GLOBE NEWSWIRE) -- AlphaGen Intelligence Corp. (CSE: AIC | OTC: APETF | FSE: W4V) (“AlphaGen ' ' or the “Company”), announces that it has entered into a debt settlement agreement (the “Agreement”) to settle outstanding debt owed to a creditor of the Company.
Pursuant to the Agreement, the Company has agreed to settle an aggregate of $115,000 in debt through the issuance of 3,833,333 units (each, a “Unit”) at a deemed price of $0.03 per Unit, whereby each Unit shall be comprised of one (1) common share in the capital of the Company (each a “Share”) and one (1) Share purchase warrant (each, a “Warrant”). Each Warrant will be convertible into an additional Share (a “Warrant Share”) at an exercise price of $0.05 per Warrant Share and will expire on the date that is two (2) years following the date of issuance.
The securities issued pursuant to the Agreement will be subject to a statutory four month and one day hold period issuance in accordance with applicable securities laws. The debt settlement is expected to close on or about February 10, 2025.
About AlphaGen Intelligence Corp.
AlphaGen Intelligence Corp. (CSE: AIC) (OTC: APETF) (FSE: W4V) is a publicly traded company, holding a portfolio of assets in gaming, entertainment, eCommerce, and retail. Operational units include: Shape Immersive, a full service metaverse studio building the future of web3 gaming and virtual retail experiences for Fortune 500 companies and beyond through 3D, spatial computing and game production; MANA, a SaaS solution and innovation lab that empowers partner companies to level up their community engagement by launching their own gaming platforms; AlphaGen clients and partners include RTFKT, Olympics, Red Bull, Intel, TED and more. Learn more at: https://alphagen.co.
Contact:
Investor Relations: info@alphagen.co - 604 359 1256
Media and Public Relations: info@alphagen.co
On Behalf of The Board of Directors
Eli Dusenbury
CFO and Director
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the debt settlement, including the closing and the anticipated closing date thereof.
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, the assumption that the Canadian Securities Exchange will accept the terms of the debt settlement and that the debt settlement will proceed as currently anticipated on the timing currently anticipated.
Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward looking information involves 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 forward-looking information. Such factors include, among other things, the risk that the debt settlement does not close on the timeline expected, or at all, including as a result of failure to receive the approval of the Canadian Securities Exchange for the debt settlement. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.
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