AlphaGen Proposes Debt Settlement
AlphaGen Intelligence Corp. announces a strategic decision to address outstanding debts. The company plans to settle a total of $329,370 owed to several creditors, which includes Eli Dusenbury, who serves as both a director and CFO of AlphaGen. This settlement will occur through the issuance of approximately 2,251,330 common shares, valued at a deemed price of $0.1463 per share.
Process of Debt Settlement
The proposed shares for the debt settlement will be subject to a statutory hold period of four months and one day, adhering to applicable securities laws. The completion of this settlement hinges on meeting certain standard conditions, including the acquisition of regulatory approvals required by the Canadian Securities Exchange.
Understanding Related Party Transactions
In this context, Dusenbury's involvement classifies the transaction as a 'related party transaction' under Multilateral Instrument 61-101, which protects minority security holders in special transactions. The company will take advantage of exemptions from the formal valuation requirements, relying on the stipulation that the transaction's fair market value related to his participation does not exceed 25% of the company's market capitalization.
About AlphaGen Intelligence Corp.
AlphaGen Intelligence Corp. is publicly traded and operates within various sectors such as gaming, entertainment, eCommerce, and retail. The company's operational units feature innovative projects like Shape Immersive, which focuses on creating advanced metaverse solutions for well-known companies through 3D technology and spatial computing. Another notable venture, MANA, serves as a SaaS platform that allows partners to enhance engagement through bespoke gaming experiences.
Investing in the Future
AlphaGen has established a strong portfolio, collaborating with significant entities such as Red Bull, Intel, and TED. These partnerships underscore the company's commitment to leveraging emerging technologies for optimal client engagement. Their forward-focused strategy reflects a robust understanding of market trends, enabling growth and diversification in service offerings.
Enhancing Community Engagement
Community engagement is paramount for AlphaGen. By empowering partners to create their own gaming platforms, they not only foster creativity but also open new revenue streams. This innovative approach places the company at the forefront of the gaming and metaverse landscape, capitalizing on trends and consumer preferences.
Contact Information
For further inquiries, individuals can reach the company’s Investor Relations at info@alphagen.co or by calling 604 359 1256. Media and public relations questions can also be directed to the same email address.
Frequently Asked Questions
What is the purpose of the debt settlement announced by AlphaGen?
The debt settlement aims to address outstanding liabilities effectively by converting them into equity, thus improving the company's financial health.
How will the debt settlement affect AlphaGen's shareholders?
Shareholders may experience dilution due to the issuance of new shares; however, the move is strategized to enhance overall company stability and growth prospects.
What sectors does AlphaGen operate in?
AlphaGen is involved in the gaming, entertainment, eCommerce, and retail sectors, focusing on innovative solutions and technologies.
Who are some of AlphaGen’s partners?
Notable partners include RTFKT, Olympics, Red Bull, Intel, and TED, indicating the company's deep industry connections.
Where can additional information regarding AlphaGen be found?
Additional information can be found on AlphaGen's official website at https://alphagen.co.
