GenAI acquires Global AI Billing

1 minute read
10 May 2023

On May 10, 2023, Vancouver-based Generative AI Solutions Corp. ("GenAI") (CSE: AICO) (‎FSE: 99L.F) (OTC: AICOF) announced that it had acquired all of the outstanding securities of Global AI Billing Corp. ("Global AI Billing") for 7.5 million common shares of GenAI (with a market value of C$8.25 million) and the assumption by GenAI of US$1.25 million in existing liabilities of Global AI Billing.

Global AI Billing's primary assets include the ownership of 10% in Remitz, Inc., a medical billing provider that has developed proprietary artificial intelligence technology to efficiently collect outstanding receivables on behalf of medical organizations in the US. 
Gowling WLG advised GenAI with respect to this acquisition with a team led by Sharagim Habibi (corporate).

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