Mr. Stephen Stares reports

ALSET ANNOUNCES $2 MILLION FINANCING

Alset Energy Corp. has arranged a non-brokered private placement to raise gross proceeds of up to $2-million, of which up to $300,000 will be offered as flow-through units.

Each flow-through unit will be issued at 38 cents and will consist of one flow-through common share and one-half of one common share purchase warrant, each full common share purchase warrant being exercisable at 50 cents for 18 months.

Each non-flow-through unit will be issued at 30 cents, and will consist of one common share and one full common share purchase warrant, each exercisable at 50 cents for 18 months.

The common shares comprising the flow-through and non-flow-through units, and the common shares issuable upon exercise of the common share purchase warrants, will be subject to a four-month hold period commencing on the closing date, being the date of issuance of the units.

Proceeds of the financing shall be used to finance work on the company's lithium project in Mexico, graphite and lithium properties in Ontario, and for general working capital purposes. The company will pay reasonable expenses and fees incurred in connection with the offering, and agents or finders may, in accordance with TSX Venture Exchange policy, be paid a negotiated cash fee as a percentage of the gross proceeds raised in the offering.

The proposed financing and associated terms are subject to TSX Venture Exchange approval.

We seek Safe Harbor.