Alset Capital Inc. announced a non-brokered private placement of 40,000,000 units at an issue price of CAD 0.15 per Unit, for gross proceeds CAD 6,000,000 on March 14, 2024. Each Unit will consist of one common share in the capital of the Company and one-half of one Common Share purchase warrant. Each Warrant will entitle the holder thereof to acquire an additional common share in the capital of the Company at an exercise price of CAD 0.25 per Warrant Share, subject to adjustment in certain circumstances, for a period of 36 months from the date of issuance.

In connection with the Offering, the Company may pay finders? fees in cash or securities, or a combination thereof, to certain finders, as permitted by the policies of the Exchange. There is no minimum number of Units or minimum aggregate proceeds required to close the Offering and the Company may, at its discretion, elect to close the Offering in one or more tranches.

The securities issued pursuant to the Offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Closing of the Offering and the issuance of the Units are subject to a number of conditions, including receipt of all necessary regulatory and corporate approvals, including approval from the Exchange.