on Alset AI Ventures Inc. (CVE:GPUS)
Alset AI Completes Sale of Stake in Lyken AI to FingerMotion
Alset AI Ventures Inc., a venture company in AI innovation, has finalized the sale of a 9.9% interest in Lyken AI Computing to FingerMotion, Inc. The transaction was valued at approximately US$5 million, with FingerMotion issuing 1,674,480 common shares as consideration. Alset retains a 90.1% controlling interest in Lyken AI.
No cash was involved, and the transaction did not require TSX Venture Exchange approval. The FingerMotion shares are restricted from trading for six months. This deal provides Alset with a valuation marker for Lyken and a strategically aligned Nasdaq-listed shareholder.
The transaction aims to enhance Alset's vendor ecosystem and cloud compute opportunities. FingerMotion extends its strategy in the enterprise AI and cloud compute market with this acquisition.
R. P.
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