- Alset AI Ventures (OTC: GPUSF) to acquire the remaining 25% of Lyken.AI for $700,000 CAD.
- The transaction involves issuing 7 million shares priced at $0.10 each.
- Full ownership aims to accelerate Lyken.AI's Platform-as-a-Service (PaaS) offerings.
Alset AI Ventures (GPUSF, Financial), an AI and cloud computing venture company, has finalized an agreement to acquire the remaining 25% interest in Cedarcross Technologies, operating as Lyken.AI. The acquisition is valued at $700,000 CAD and will be completed through the issuance of 7 million common shares at $0.10 per share.
Upon closing, Alset AI will gain 100% ownership of Lyken.AI, a British Columbia-based AI cloud computing company known for its Platform-as-a-Service (PaaS) solutions. This move follows Alset's initial majority stake acquisition in February 2025 and is part of a strategic effort to enhance its AI infrastructure offerings.
Alset AI's CEO, Adam Ingrao, stated, "Completing this investment into Lyken.AI will be a major milestone for Alset. We will be positioned to help accelerate the commercial launch of Lyken.AI's PaaS strategy, deepen integration with our partners, and invest to help scale Lyken rapidly to meet the increasing demand for domestic AI compute capacity."
The acquisition remains subject to approval by the TSX Venture Exchange. Lyken.AI is expected to launch a new corporate website by the third quarter of 2025 to highlight its platform capabilities and infrastructure solutions. This step is anticipated to bolster the company's market presence and customer engagement.
