VANCOUVER, BC / ACCESSWIRE / December 20, 2024 / Alset AI Ventures Inc. (TSXV:GPUS)(OTC PINK:ALSCF)(FSE:1R60, WKN:A3ESVQ) ("Alset AI" or the "Company") an artificial intelligence (AI) venture company advancing innovation through strategic investment and high-performance cloud computing solutions, announces a strategic investment and advisory partnership with Blueprint AI Technologies Inc. ("Blueprint AI"), a Vancouver-based developer of artificial intelligence solutions for the real estate industry. This investment expands Alset AI's portfolio of companies and aims to align with its core strategy to leverage its flagship cloud computing portfolio company, Cedarcross International Technologies ("Cedarcross Technologies"), to support the commercialization of innovative AI solutions.
Blueprint AI's Transformative Technology and Strategic Rationale
Blueprint AI's flagship technology addresses critical inefficiencies in architectural drawing reviews and building code compliance. By automating traditionally labor-intensive processes, the platform aims to significantly enhance accuracy, reduce manual labor costs, and accelerate project timelines for both residential and commercial projects. In addition, the Company and Blueprint AI are exploring a strategic alliance with Alset AI's portfolio company Cedarcross Technologies, whereby Cedarcross Technologies could become Blueprint AI's exclusive cloud compute provider.
Blueprint AI's Vision and Leadership
Blueprint AI is designed to address pressing challenges in the real estate market, including construction delays, rising shelter costs, and housing shortages. Shelter costs have increased by 8.4% annually from 2018 to 2021, according to Statistics Canada1, while the Canada Mortgage and Housing Corporation (CMHC) projects a shortfall of 3.5 million homes by 20302. By leveraging Blueprint AI's technology, the industry can overcome regulatory bottlenecks and expedite development.
Blueprint AI was founded by Dr. Hao Liang, a recognized leader in artificial intelligence. Dr. Liang is the Canada Research Chair in Intelligent Energy Systems and an Associate Professor in the Department of Electrical and Computer Engineering at the University of Alberta. Dr. Liang specializes in leveraging advanced AI technologies, including large language models (LLMs), deep neural networks, and machine learning, to address complex challenges across sectors.
Management Commentary
"This investment underscores Alset AI's strategy to build a portfolio of high-impact AI companies that complement our cornerstone cloud computing investment, Cedarcross Technologies", said Adam Ingrao, CEO of Alset AI. "Blueprint AI embodies the type of strategic addition we aim to make, representing a transformative technology company with the potential to solve significant industry challenges, which we can then integrate with our Cedarcross Technologies cloud compute platform. We believe this partnership will drive scalable growth opportunities and create significant value for all stakeholders."
Transaction Details
On closing of the transaction, Alset AI will acquire 1,111,111 common shares of Blueprint AI at a deemed price of $0.135 per share, for a total consideration of $150,000. This acquisition represents an 11.56% equity stake in Blueprint AI. Additionally, the agreement includes a commitment by Alset AI to invest an additional CAD $200,000 in Blueprint AI's next equity financing round, contingent upon Blueprint AI achieving aggregate gross proceeds of at least CAD $400,000 in that financing round.
As part of the partnership, Alset AI will serve as a strategic advisor to Blueprint AI and will appoint Adam Ingrao, Alset AI's CEO, as a Board Observer. Alset AI is also eligible to receive up to 555,532 additional common shares of Blueprint AI upon achieving specific performance milestones, which include securing CAD $400,000 in equity financing, delivering a comprehensive branding and go-to-market strategy, and facilitating client contracts that generate CAD $300,000 in new annual revenue.
Furthermore, discussions are underway to explore a potential strategic alliance with Cedarcross Technologies, a portfolio company of Alset AI, which could see Cedarcross Technologies becoming Blueprint AI's exclusive cloud computing provider.
1 Statistics Canada
2 CMHC
On behalf of Alset AI Ventures Inc.
"Adam Ingrao"
Adam Ingrao
Chief Executive Officer
About Alset AI Ventures Inc.
Alset AI is a pioneering AI and cloud computing investment firm, committed to nurturing high-potential technology companies. Through a combination of capital, strategic advisory, and cloud computing alliances, Alset AI is shaping the future of artificial intelligence and building an AI-focused venture capital platform poised for substantial growth.
About Blueprint AI Technologies Inc.
Blueprint AI is a leading innovator in artificial intelligence, dedicated to developing advanced tools for drawing reviews and code compliance checks within the architecture, engineering, and construction (AEC) industry. Through cutting-edge software, applications, AI-driven technologies, and specialized services, the company is transforming the AEC landscape by delivering unparalleled accuracy, reducing labor costs, and accelerating project timelines for review processes.
For further information about Alset AI Ventures Inc., please contact:
Adam Ingrao, Chief Executive Officer
T: 778.223.8853
E: ir@alsetai.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this press release contain forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking statements are often identifiable by the use of words such as "anticipates," "expects," "believes," "intends," "plans," "forecasts," "may," "will," "could," "should," or similar expressions. These statements are based on the Company's current expectations, estimates, and assumptions regarding future events and conditions, including, but not limited to: the expected benefits of the Company's investment in Blueprint AI Technologies Inc.; the successful completion of the transaction and related equity financing; the achievement of performance milestones by Blueprint AI; the scalability and market adoption of Blueprint AI's technologies; the potential strategic alliance with Cedarcross Technologies and Blueprint; and the anticipated impacts of Blueprint AI's solutions on the real estate industry. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Factors that could cause actual results to differ materially include, but are not limited to: the inability to complete the transaction or achieve the specified milestones; Blueprint AI's inability to scale its technologies or achieve market adoption; challenges in formalizing the strategic alliance with Cedarcross Technologies; changes in market demand for AI and cloud computing technologies; availability of funding or capital; changes in economic, business, and market conditions; and other risks detailed in the Company's filings with Canadian securities regulators. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statements to reflect new information, future events, or otherwise, except as required by law. Investors are cautioned not to place undue reliance on forward-looking statements, as actual results may differ materially from those expressed or implied herein.
SOURCE: Alset AI Ventures Inc.
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