Arizona Tribune - Alset AI Completes Majority Acquisition of AI Cloud Computing Company Cedarcross Technologies

VANCOUVER, BC / ACCESS Newswire / February 26, 2025 / Alset AI Ventures Inc.(TSXV:GPUS)(OTC PINK:ALSCF)(FSE:1R60, WKN:A3ESVQ)("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 news release dated December 10, 2024, the Company has completed the acquisition of an aggregate approximately 26% equity stake in Cedarcross International Technologies Inc. ("Cedarcross Technologies"), an arms'-length private British Columbia-based AI cloud computing company (the "Acquisition"), effective February 24, 2025.

With the completion of the Acquisition, Alset AI now holds approximately 75% ownership of Cedarcross Technologies, strengthening its position in the AI cloud computing sector and reinforcing its commitment to advancing high-performance AI infrastructure.

Cedarcross Technologies: Flagship AI Infrastructure Business
Cedarcross Technologies addresses the critical infrastructure challenges of the AI industry through two core business verticals:

• AI HPC Leasing: Providing small to medium enterprises (SMEs) with access to advanced AI high-performance computing (HPC) infrastructure powered by Nvidia graphic processing units (GPUs), Cedarcross Technologies offers an affordable and scalable alternative to owning expensive AI hardware.

• AI HPC Hardware Distribution: Cedarcross Technologies partners with Earthmade Computer Corp. ("Earthmade"), an authorized distributor of Super Micro Computer, Inc. ("Super Micro"), to deliver advanced AI GPU servers and HPC solutions tailored to the evolving demands of AI and machine learning businesses. This strategic partnership positions Cedarcross Technologies as an emerging player in the AI ecosystem, unlocking diverse revenue streams and strengthening its market presence.

The integration of Cedarcross Technologies into Alset AI's portfolio positions the Company as a burgeoning leader in the AI infrastructure sector, leveraging its dual-vertical business model to capitalize on the growing demand for scalable computing solutions.

Recent Momentum in AI Infrastructure:
The global AI infrastructure market is experiencing growth, driven by advancements in machine learning, generative AI, and the rising adoption of decentralized systems. Analysts project that spending on AI hardware and infrastructure will surpass $150 billion by 2030, with high-performance GPUs playing a pivotal role in enabling AI workloads. (Sources: McKinsey, Gartner 2024 AI Trends).

Recently, in January 2025, President Donald Trump announced a private-sector investment of up to $500 billion in artificial intelligence infrastructure, known as the "Stargate" project. This initiative is a collaboration between OpenAI, Oracle, and SoftBank, aiming to construct data centers and create over 100,000 jobs in the United States over the next four years.¹

"AI infrastructure is at the core of the digital transformation taking place across industries," said Adam Ingrao, CEO of Alset AI Ventures. "By taking this majority stake, Cedarcross Technologies becomes our flagship AI infrastructure business, a critical foundation in our strategy. By combining scalable leasing models with hardware distribution, Cedarcross Technologies is uniquely positioned to meet the surging demand for advanced computing solutions. This acquisition is a transformative step for Alset AI and underscores our commitment to delivering long-term value to our shareholders."

Strategic Outlook:
With Cedarcross Technologies as its flagship business, Alset AI plans to pursue additional growth opportunities in the AI infrastructure space, including organic expansion and targeted investments. The Company's leadership envisions a future where AI HPC becomes accessible and sustainable, enabling breakthroughs across industries.

Terms of the Acquisition
Pursuant to the terms of the Acquisition and further to its news release dated December 10, 2024, Alset AI has issued 19,999,988 common shares in the capital of the Company (each, a "Consideration Share") to certain non-management shareholders of Cedarcross Technologies in exchange for approximately an additional 26% of the issued and outstanding shares of Cedarcross Technologies at a deemed price of $0.075 per Consideration Share for total deemed consideration of $1,499,999.10 (the "Purchase Price"). No finder's fee is payable in connection with the acquisition. The acquisition is an arm's length transaction. The Consideration Shares issued in connection with the Acquisition are subject to a restricted period of fourth months and one day expiring June 25, 2025. The Acquisition remains subject to final approval of the TSX Venture Exchange.

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About Alset AI Ventures Inc.
Alset AI is a pioneering AI and cloud computing investment firm, committed to nurturing high-potential technology companies. Through a combination of capital, strategic advisory, and cloud computing alliances, Alset AI is shaping the future of artificial intelligence and building an AI-focused venture capital platform poised for substantial growth.

About Cedarcross Technologies Inc.
Cedarcross Technologies 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 advanced AI high-performance computing, offering access to the world's fastest AI servers.

For further information about Alset AI Ventures Inc., please contact:
Investor Relations
T: 236.312.6744
E: [email protected]

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.

Forward-Looking Information
This press release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") related to the Acquisition and the perceived benefits to the Company from the Acquisition, and the projected growth of the AI and cloud computing industry and other such future events and Alset''s future business, operations, and financial performance and condition. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Alset's's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Alset. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Alset undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risk Factors" in its most recent Annual Information Form. They are otherwise disclosed in its filings with securities regulatory authorities available on SEDAR+ at www.sedarplus.ca.

SOURCE: Alset AI Ventures Inc.

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