Generative AI Solutions Corp (OTCMKTS:AICOF) Stock Gains After Private Placement

Pioneering artificial intelligence company focusing on developing AI-powered tools for consumers and businesses, Generative AI Solutions Corp (OTCMKTS:AICOF) announced its intent to raise about Cdn$5,040,000 through non-brokered private placement. This will be for about 9,000,000 units at a price of C$0.56 per Unit. Every unit will comprise of a single share in the company’s capital and a single share purchase warrant.

Trading Data

On Friday, AICOF stock rose 2.25% to $0.9394 with more than 2.38K shares, compared to its average volume of 409 shares. The stock moved within a range of $0.9392 – 0.9394 after opening trading at $0.9392.

Genai Announces Non-Brokered Private Placement

Every warrant will entitle the subscriber to take an additional share for two years from the applicable closing date. The closing will be subject to a number of conditions, including approval by the Canadian Securities Exchange. The proceeds will be used for general working capital.

The offering would be finished pursuant to some exemptions from prospectus requirements under applicable Canadian securities laws. Warrants and shares comprising units issued will be subject to a statutory four-month and one-day hold period from the date of issue.

Gen AI Solutions Corp’s mission is to utilize the power of artificial intelligence for creating transformative tools benefitting consumers and businesses across various industries. The firm has a talented team of engineers and AI professionals dedicated to AI-based solutions having broad applicability. The company aims to leverage expertise in natural language processing, machine learning, and analytics to build high-performance tools redefining productivity.