GenAI target of reverse takeover by Ultron Capital

1 minute read
17 April 2023

On April 17, 2023, Generative AI Solutions Corp. ("GenAI" or the "Company") (CSE: AICO) (‎FSE: 99L.F) (OTC: IDLSF), Ultron Capital Corp. ("Ultron") and a wholly owned subsidiary of the Company completed a business combination under which GenAI acquired all of the issued and outstanding securities of Ultron in exchange for 51,176,001 common shares of the Company.

The transaction resulted in a reverse takeover of the Company by Ultron, which constituted a fundamental change of the Company, as defined in the policies of the CSE.
The Company's common shares subsequently began trading on the Canadian Securities Exchange under the symbol "AICO".
GenAI is a pioneering artificial intelligence company focused on developing transformative AI-powered tools for businesses and consumers across multiple industries. 

Gowling WLG advised GenAI with respect to this transaction with a team led by Sharagim Habibi, and that included Jill Dunn, Lee Sykes and Sean Walsh (corporate) and Laura Gheorghiu (tax).

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