Mr. Dev Randhawa reports
GENESIS AI ANNOUNCES SHARES FOR DEBT SETTLEMENT
Genesis AI Corp. has approved the settlement of $200,000 of indebtedness through the issuance
of an aggregate of 1,481,481 common shares. They will be issued at a deemed
price of 13.5 cents. The company will enter into shares-for-debt agreements with the creditor in connection with
the debt settlement.
The issuance of the 1,481,481 settlement shares constitutes a related party transaction as such term is
defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Another 397,221 settlement shares will be issued to former board members. The company intends
to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 as
neither the fair market value of such settlement shares nor the debt exceeds 25 per cent of the company's market
capitalization. The debt settlement is subject to Canadian Securities Exchange acceptance. The shares will
be subject to a four-month-and-one-day hold.
About Genesis AI Corp.
Genesis AI is committed to developing advanced AI-driven (artificial intelligence) solutions for
wildfire protection and improved mineral exploration outcomes. The company's flagship platform, Wildfire
Defense Solutions, leverages AI, machine learning and data analytics to build digital models of forests and
communities, helping stakeholders make smarter, data-driven decisions in managing natural resources and
wildfire risks.
We seek Safe Harbor.
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