GenAI acquires Pulse AI

1 minute read
19 June 2023

On June 19, 2023, Generative AI Solutions Corp. ("GenAI") (CSE: AICO) (‎FSE: 99L.F) (OTC: AICOF) closed its previously announced acquisition of AI compute business, Pulse AI Compute Solutions Inc. ("Pulse AI").

GenAI entered into a share purchase agreement dated June 13, 2023 with Minework Technologies Pte Ltd. ("Minework"), pursuant to which, subject to the satisfaction of certain conditions to closing, GenAI's wholly-owned subsidiary, MAI Cloud Solutions Inc. ("MAI Cloud"), agreed to purchase all of the issued and outstanding shares in the authorized share structure of Pulse AI, which were held by Minework.

MAI Cloud acquired the purchased shares from Minework for an aggregate purchase price of $1.5 million. 

GenAI is a pioneering artificial intelligence company focused on developing transformative AI-powered tools for businesses and consumers across multiple industries.
Sharagim Habibi and Ashley Andaya of Gowling WLG advised GenAI with respect to this transaction.

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