VANCOUVER, BC, Dec. 13, 2023 /CNW/ - Generative AI Solutions Corp. ("GenAI" or the "Company") (CSE: AICO) (OTC: AICOF) is pleased to announce that Patrick Gray, a former director of the Company, has been appointed Chief Operating Officer ("COO") of the Company. In connection with his appointment as COO, Mr. Gray is resigning from the Board of Directors of the Company (the "Board"), effective immediately. To fill the vacancy left by Mr. Gray's resignation, the Board has appointed Mr. Jordan Crockett as an independent director for the Company.
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Mr. Gray is the President and Founder of an IT service provider that specializes in software development, AI and Data Analytics, software implementation services, public sector automation platforms, and legal technology services. The company has extensive expertise in utilizing Artificial Intelligence (AI) and Machine Learning (ML) in expert services to enhance document and data management capabilities.
Mr. Gray has founded numerous start-ups, is on the board of multiple publicly traded companies, and incubated a cryptocurrency mining company in 2017 raising $30 million dollars before selling it to a publicly traded company.
Ryan Selby, CEO of the Company, commented, "Mr. Gray is a skilled professional with the knowledge and experience needed to serve as COO for the Company. Having worked closely with Patrick as a Director, I have seen his dedication and expertise first-hand. I am confident that he will be a valuable addition to our management team, and I look forward to working closely with him as we continue to grow the business."
The Company is pleased to announce a total of 500,000 stock options have been granted to certain directors and officers of the Company pursuant to the Company's stock option plan. The options are exercisable for a period of five years at a price of $0.22 per share vesting 50% after one year and 50% after year two.
On Behalf of the Board,? Ryan Selby CEO, Director, and Chairman of the Board
GenAI is a pioneering artificial intelligence company focused on developing a vertically integrated AI solutions business through its proprietary MAI Cloud? platform, with the development and commercialization of AI-powered tools and solutions for businesses and consumers across multiple industries. At GenAI, our mission is to harness the power of AI to create transformative products and services that benefit business and consumers across various sectors. Our team of talented AI professionals and engineers are dedicated to developing state-of-the-art AI-based solutions that have broad applicability and can be seamlessly integrated into diverse workflows. By leveraging our MAI Cloud? platform and our expertise in machine learning, natural language processing, and data analytics, we build versatile high-performance tools that redefine efficiency, productivity, and user experience.
Trading in the securities of the Company should be considered highly speculative.
Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, the "forward-looking statements"), including statements relating to the appointment of Mr. Gray as the COO of the Company and the anticipated success and growth of the Company and its business therefrom. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect," "plan," "anticipate," "project," "target," "potential," "schedule," "forecast," "budget," "estimate," "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will," "would," "may," "could," "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur.
While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the market acceptance and demand of the Company's technology and related products; the effects of general economic conditions; changing foreign exchange rates and actions by government and regulatory authorities; the effects of COVID-19; the future of the market for Company's programs; and misjudgments in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with the development and anticipated launch of each of the Company's projects; the impact of general business and economic conditions; unexpected changes in market and technological trends and governmental policies and regulations affecting the Company; the Company's ability to continue onboarding clients; risks related to global pandemics; influence of macroeconomic developments; business opportunities that become available to, or are pursued by the Company; reduced access to debt and equity capital; litigation; the volatility of the stock market; competition; future sales or issuances of debt or equity securities; use of proceeds; dividend policy and future payment of dividends; liquidity; the market for the Company's securities; and those risk factors disclosed under the heading "Risk Factors" in the Company's most recent annual information form filed on www.sedarplus.ca. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.
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