Vancouver, British Columbia--(Newsfile Corp. - February 14, 2025) - Canadian Nexus Team Ventures Corp., (CSE: TEAM) ("TEAM" or the "Company") is pleased to announce that Mr. Ali Saheli has consented to act as a Director of the Company and will fill the role of President of TEAM. We welcome Ali and look forward to working together with him in moving the Company forward.
"I am honored to take on the role of President at such a pivotal time for our Company. Our vertical interment portfolio, spanning from early-stage uranium projects to Small Modular Reactors (SMRs) and the transformative potential of AI, reflects a strategic commitment to innovation and long-term value creation. By leveraging a disciplined barbell investment approach-balancing high-growth opportunities with stable, foundational assets-we are positioning ourselves to lead in the evolving energy and technology landscapes. The future is bright, and I am excited to drive this vision forward," commented new President Ali Saheli.
Ali is a seasoned entrepreneur and investor with a proven track record of founding, scaling, and advising technology ventures. After earning his master's degree in England, Ali began his career as a software engineer at Recon Instruments (acquired by Intel) and subsequently at Trulioo. In 2013, he co-founded Foro, an e-commerce marketplace for students, which was successfully acquired in 2015. He then served briefly as Head of Productat Shippo, a multi-carrier shipping API and dashboard.
In 2017, Ali founded Hex Capital, Canada's first crypto-focused fund, raising $10 million to invest in early-stage blockchain and fintech ventures. Through Hex Capital, he has made notable investments in companies such as Dapper Labs, Kraken, DFX, Maker, 0x Protocol,Nervos Protocol, as well as Bitcoin and Ethereum.
The Company is also pleased to announce that it has entered into a non-binding Letter of Intent ("LOI") in which Canadian Nexus Team Ventures Corp. proposes to acquire certain assets related to the Grid Technology Stacks intellectual property (IP) platform owned by Ali Saheli (the "Seller"). The terms outlined below are intended to facilitate further negotiations and due diligence but do not constitute a binding agreement except as explicitly stated.
Proposed Transaction:
TEAM proposes to acquire all relevant assets, intellectual property rights, technology, and associated business components related to Grid (the "Platform"). The preliminary purchase price is expected to be approximately CDN$1,225,000 (subject to adjustments based on due diligence findings). The consideration will be structured as a combination of cash and stock; set forth as follows:
2,900,000 shares of TEAM (based on closing price of $0.25) with a to-be-determined escrow and/ or pooling agreement.
$500,000 in cash paid over 4 installments:
Q1 2025 - $50,000
Q2 2025 - $150,000
Q3 2025 - $150,000
Q4 2025 - $150,000
TEAM will have an exclusive period of 14 days to conduct technical, legal, and operational due diligence on the Platform. The Seller agrees to provide access to all relevant documents and information necessary to complete this review.
For a period of 14 days from the date of execution of this LOI, the Seller agrees not to engage in discussions, negotiations, or transactions with any other parties regarding the sale of the Platform.
Both parties agree to maintain the confidentiality of internal dialogue and if required future potential negotiations, and exchange information related to this transaction in accordance with reasonable confidentiality; acknowledging that TEAM is a public company and will disseminate a mutually agreed press release upon signing.
The consummation of the transaction will be subject to, among other conditions:
Execution of a mutually satisfactory Definitive Agreement; completion of due diligence to the satisfaction of TEAM; any required regulatory or third-party approvals and other customary closing conditions.
If the proposed transaction is completed it will be deemed a non-arm's length transaction and may require review by the CSE.
About Canadian Nexus Team Ventures Corp.
Canadian Nexus Team Ventures Corp. (CSE: TEAM) is an investment issuer that actively invests in a diversified portfolio of early-stage to mid-level companies and projects with a focus on the Uranium and Artificial Intelligence sectors. Canadian Nexus leverages its network of operators and global thought leaders to provide investors with a unique multi-opportunity portfolio.
Contact:
Scott Young, CEO
Email: Scott@CanadianNexus.com
Forward-Looking Statements:
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements about timing, future projects and future revenues are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company and it's wholly-owned subsidiaries, including the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining regulatory approvals (including of the Canadian Securities Exchange), changes in laws, regulations, and policies affecting the Company's operations and the Company's limited operating history.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241097
SOURCE: Canadian Nexus Team Ventures Corp.
