GENAI PROVIDES UPDATE ON STATUS OF ANNUAL FINANCIAL STATEMENTS
Pursuant to the MCTO, the Corporation's CEO, Patrick Gray, and the Corporation's CFO, Paul Ciullo, may not trade in securities of the Corporation until such time as the Corporation files its annual audited financial statements, annual management's discussion and analysis and related certifications for the year ended January 31, 2025 (collectively, the " Required Documents"), and the BCSC revokes the MCTO.
The MCTO does not affect the ability of other shareholders to trade their securities.
The Corporation has not yet filed the Required Documents, however the Company is working diligently with its auditors and expects that the Required Documents will be filed as soon as possible. The Company had previously announced that it expected the Required Documents to be filed around June 30, 2025, however due to ongoing processes the Company expects to require more time to complete the Required Documents and it is now expected that the Required Documents will be filed on or about July 31, 2025.
As previously reported, the delay is outside of the Company's control and due solely to quality review of audit procedures and financial review procedures of their external auditor, including in respect of the treatment of certain acquisitions of the Company and their presentation in the financial statements.
The Company confirms that it intends to satisfy the provisions of NP 12-203 and issue bi–weekly default status reports for so long as the Company remains in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by the Company to remedy the default; particulars of any failure by the Company to fulfill these provisions, any subsequent defaults of the Company requiring a default announcement and any other material information concerning the affairs of the Company not previously disclosed.
On Behalf of the Board,
Patrick Gray
CEO, Director and Chairman of the Board
Generative AI Solutions Corp.
Toll-free North America: +1-833-879-7632
Outside North America: +1-406-879-7632
[email protected]
www.genai-solutions.com
About Generative AI Solutions Corp.
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.
For more information on GenAI, please visit www.genai-solutions.com.
Forward-Looking Information and Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the Company's ability to continue to develop revenue generating applications; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; and the continued growth of the Company; and Company's ability to continue to meet the requirements of listing of the CSE.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
17 hours ago
- Cision Canada
Westbridge Renewable Energy Announces Share Consolidation
CALGARY, AB, /CNW/ - Westbridge Renewable Energy Corp. (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) ("Westbridge", "Westbridge Renewable" or the "Company") a leading developer of utility-scale renewable energy and energy infrastructure, announces its intention to consolidate the Company's common shares. The Company announces that its Board of Directors has approved a consolidation of the Company's common shares (the " Common Shares") on the basis of one (1) post-consolidation Common Share for every four (4) pre-consolidation Common Shares (the " Consolidation"), subject to approval from the TSX Venture Exchange (the " Exchange" or the " TSXV"). The Consolidation is being undertaken in order to position the Company for broader institutional investor participation, enhance trading liquidity, and support its long-term capital markets strategy. The Company currently has 101,149,851 Common Shares issued and outstanding. Following the Consolidation, it is expected that the Company will have approximately 25,287,462 Common Shares issued and outstanding, subject to rounding for fractional shares. No fractional shares will be issued as a result of the Consolidation. Any fractional interest in Common Shares will be rounded down to the nearest whole number, in accordance with TSXV policies. The Consolidation remains subject to final approval by the Exchange. The Company's name and trading symbol will remain unchanged. The effective date of the Consolidation, along with the new CUSIP and ISIN numbers, will be announced in a subsequent news release once TSXV approval has been obtained. "This share consolidation is a strategic step that supports Westbridge's broader growth trajectory and enhances our profile in public capital markets," said Stefano Romanin, CEO of Westbridge. About Westbridge Renewable Energy Westbridge originates, develops, operates and monetizes best-in-class, utility-scale solar PV projects, stand-alone battery energy storage projects and other clean energy-focused development. The Company has a portfolio of projects in four key jurisdictions: Canada, the U.S., the U.K. and Italy. Westbridge delivers attractive, long-term returns by originating and developing an international portfolio of renewable energy assets to support increasing demand for energy and grid reliability. Management brings a strong track-record with a cumulative 40+ development projects worldwide. As one of very few listed, pure-play international solar and BESS development companies, Westbridge provides investors with access to greenfield solar and energy storage projects at the earliest stage of development, allowing them to benefit from the full development value chain. Westbridge aims to deliver clean, sustainable electricity and energy storage solutions to support increasing electricity demand and grid reliability in the jurisdictions in which it operates. For more information, please visit: | Twitter | LinkedIn Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements Certain information set forth in this document contains forward-looking information and statements and the timing thereof. Forward-looking information also includes management's assessment of future plans and operations, that the Company will complete the Consolidation; that the Company will receive the necessary approvals to complete the Consolidation; that the number of Shares outstanding following the Consolidation will be consistent with the number set out herein; that the Consolidation will impact the Company as anticipated; and that the treatment of fractional shares will align with management's current expectations. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future, including project milestone progress at Fontus, and should not be relied upon for any other purpose. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "potential", "will", "may", "could", "should", or similar words suggesting future outcomes or statements regarding future performance and outlook. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them, as actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: the Company's ability to complete licensing and interconnection processes; availability of capital and financing on acceptable terms or at all; risks relating to general business, economic, competitive, regulatory, policy and social uncertainties; changes in laws or market conditions; and the risks identified under the headings "Risk Factors" in the Company's annual financial statements and management's discussion and analysis, and other disclosure documents available on the Company's profile on SEDAR+ at The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information, except as required by law. SOURCE Westbridge Renewable Energy Corp.
Cision Canada
19 hours ago
- Cision Canada
LOMBARD STREET CAPITAL CORP. AND LITHIUM AFRICA RESOURCES CORP. ANNOUNCE EXECUTION OF BUSINESS COMBINATION AGREEMENT
/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, July 25, 2025 /CNW/ - Lombard Street Capital Corp. (TSXV: LSC.P) (the " Corporation") a capital pool company as defined under TSX Venture Exchange (" TSXV" or the " Exchange") Policy 2.4 – Capital Pool Companies, and Lithium Africa Resources Corp. (" LARC") are pleased to announce that, further to the Corporation's news releases dated March 31, 2025 and April 21, 2025 (the " Prior Press Releases"), the Corporation and LARC, have entered into a business combination agreement dated July 24, 2025 (the " Definitive Agreement") in connection with the proposed business combination of the Corporation and LARC to ultimately form the resulting issuer (the " Resulting Issuer") that will continue on the business of LARC, subject to the terms and conditions outlined below and in the Prior Press Releases. The Corporation and LARC intend that the transactions contemplated by the Definitive Agreement (the " Proposed Transaction") will constitute the Corporation's Qualifying Transaction, as such term is defined in the policies of the Exchange. Following completion of the Proposed Transaction, the Resulting Issuer intends to list as a Tier 2 Mining Issuer on the Exchange. Under the terms of the Definitive Agreement, the Proposed Transaction will be completed by way of a merger under the laws of the Cayman Islands, whereby a wholly owned subsidiary of the Corporation to be incorporated under the laws of the Cayman Islands and LARC will merge under the laws of the Cayman Islands, and the resulting merged entity will survive as a wholly-owned subsidiary of the Corporation. Each issued and outstanding Class A common share of LARC (each an " LARC Share") will be exchanged for common shares (the " Resulting Issuer Shares") of the Resulting Issuer on the basis of one (1) Resulting Issuer Share for one (1) LARC Share (the " Exchange Ratio"). In addition, it is contemplated that all securities convertible, exercisable or exchangeable into LARC Shares outstanding at the effective time will be exchanged for similar securities of the Resulting Issuer on the basis of the Exchange Ratio. Please see the Prior Press Releases for additional information regarding the Proposed Transaction. About LARC LARC has an established 50/50 joint venture partnership with GFL International Co., Ltd. (" GFL") to jointly advance exploration in Africa (the " LAR-GFL JV") and through the LAR-GFL JV, LARC has an indirect 50% interest in a portfolio of exploration assets in hardrock pegmatite districts across a number of prospective African regions covering Ivory Coast, Guinea, Mali and Zimbabwe; separately LARC is working in collaboration with Morocco's National Office of Hydrocarbons and Mining to explore in the Bir El Mami area, located in the Dakhla-Oued Ed-Dahab region (collectively the " Properties"). Prior to completion of the Proposed Transaction, LARC proposes to effect a split of the issued and outstanding LARC Shares, on a fully diluted basis, on the basis of approximately ten (10) post-split LARC Shares for every one (1) pre-split LARC Share issued and outstanding (the " LARC Share Split"). Please see the Prior Press Releases for additional information regarding LARC and the Properties. LARC Private Placement In connection with the Proposed Transaction, LARC completed a brokered and non-brokered private placement offering (collectively, the " LARC Private Placement") of 123,396 units of LARC (the " LARC Units") at a price of C$28.00 per LARC Unit for gross proceeds of C$3,455,088. Each LARC Unit is comprised of (i) one LARC Share, (ii) one LARC Share purchase warrant (each LARC Share purchase warrant, a " Warrant") entitling the holder thereof to acquire one additional LARC Share (each, a " Warrant Share") at a price of C$37.00 per Warrant Share until April 22, 2030, and (iii) one special warrant of LARC (each, a " LARC Special Warrant"). Each Special Warrant entitles the holder thereof to receive, without payment of any further consideration and without further action on the part of the holder, and subject to customary adjustment provisions, 0.15 additional LARC Shares (the " Penalty Shares"). The Special Warrants shall be automatically exercised, with no further action on the part of the holder (and for no additional consideration), on October 22, 2025 (the " Trigger Date"). In the event the Proposed Transaction is completed on or before 5:00 p.m. (ET) on the Trigger Date, the Special Warrants will expire, and the Penalty Shares will not be issued. The LARC Shares, LARC Warrants and LARC Special Warrants will be issued on a pre-LARC Share Split basis. In connection with the LARC Private Placement, LARC paid to certain brokers and finders a cash commission of approximately $117,200 and issued 1,011 broker warrants and 7,627 advisory warrants with each broker warrant and advisory warrant being exercisable until April 22, 2028 to acquire one LARC Share for C$28.00. Following the completion of the Proposed Transaction, the Resulting Issuer is anticipated to have cash on hand of approximately C$7 million, which shall be used towards the exploration and development of LARC's asset portfolio. On the terms of the LARC GFL JV, funding provided by LARC into the Properties is expected to be matched by GFL. LARC intends to use the net proceeds of the LARC Private Placement and the Concurrent Financing for (i) exploration of its properties in Ivory Coast and Zimbabwe (the " Material Properties"), and (ii) general corporate and working capital purposes. Completion of the Concurrent Financing is a condition of the completion of the Proposed Transaction. Concurrent Financing Prior to or concurrently with the closing of the Proposed Transaction, it is anticipated that LARC will complete a concurrent non-brokered private placement (the " Concurrent Financing") of subscription receipts (each a " Subscription Receipt") at C$2.80 per Subscription Receipt (on a post-LARC Share Split basis), for minimum gross proceeds of C$1,544,914. Each Subscription Receipt shall convert into one unit of LARC (each, a " SR Unit") (on a post-LARC Share Split basis) immediately prior to the closing of the Proposed Transaction. Each SR Unit shall comprise of one LARC Share and one LARC Share purchase warrant entitling the holder thereof to acquire one additional LARC Share at a price of C$3.70 per LARC Share for a period of five years from the date of issuance. Lock up Agreements In addition to the escrow requirements of the TSXV and applicable securities laws, certain securityholders of LARC, who collectively own 969,164 LARC Shares (representing approximately 68% of the issued and outstanding LARC Shares) and 124,850 options (" LARC Options") of LARC (representing approximately 62% of the outstanding LARC Options), have agreed to a voluntary one-year lock-up period with respect to the Resulting Issuer Shares and options of the Resulting Issuer that they will receive in exchange for their LARC Shares and LARC Options upon completion of the Proposed Transaction. Lombard is a capital pool company and its common shares are listed for trading on the TSXV under the symbol "LSC.P". Filing Statement In connection with the Proposed Transaction and pursuant to the requirements of the TSXV, Lombard will file a filing statement or a management information circular on its issuer profile on SEDAR+ ( which will contain details regarding the Proposed Transaction, Lombard, the Material Properties, the Concurrent Financing, and the Resulting Issuer. Sponsorship of Qualifying Transaction Sponsorship of a qualifying transaction of a capital pool company is required by the TSXV unless exempt in accordance with TSXV policies. Lombard intends to apply for an exemption from the sponsorship requirements. Reinstatement to Trading In accordance with the policies of the TSXV, the Lombard Shares are currently halted from trading and will remain so until such time as the TSXV determines, which, depending on the policies of the TSXV, may not occur until completion of the Proposed Transaction. Further Information Further details about the Proposed Transaction and the Resulting Issuer will be provided in subsequent press releases as the Proposed Transaction advances and in the disclosure document to be prepared and filed in connection with the Proposed Transaction. Investors are cautioned that, except as disclosed in the disclosure document to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Transaction. ABOUT THE CORPORATION The Corporation is a CPC that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the CPC Policy, until the completion of its Qualifying Transaction, the Corporation will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a Qualifying Transaction. Information concerning LARC has been provided to the Corporation by LARC for inclusion in this press release. Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to Exchange Requirements (as that term is defined in the policies of the TSXV), majority of the minority shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. The securities referenced herein have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements in this press release relate to, among other things, the Proposed Transaction and certain terms and conditions thereof; the business of LARC, information concerning the Material Properties, the commissioning of an updated NI 43-101 compliant technical report with respect to the Material Properties, the terms, use of proceeds and completion of the LARC Private Placement and the Concurrent Financing, and the terms thereof; TSXV sponsorship requirements and intended application for exemption therefrom; matching of the Resulting Issuer's funds by GFL; shareholder, director and regulatory approvals; and future press releases and disclosure. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; the listing of the Resulting Issuer on the Exchange; and completion of a Qualifying Transaction. There can be no assurance that such 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. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. SOURCE Lombard Street Capital Corp.
Toronto Star
20 hours ago
- Toronto Star
PharmAla Issues Q3 Financial Statements
TORONTO, July 25, 2025 (GLOBE NEWSWIRE) — PharmAla Biotech Holdings Inc. ('PharmAla' or the 'Company') (CSE: MDMA) (OTC: MDXXF), a biotechnology company focused on the research, development, and manufacturing of LaNeo™ MDMA and novel derivatives of MDMA (MDXX class molecules), is pleased to have publicly filed its financial and operational results for the period ended May 31, 2025. All figures are reported in Canadian dollars. The Company's full set of unaudited condensed interim consolidated financial statements for the quarter and accompanying management's discussion and analysis can be accessed by visiting the Company's website at and its profile page on SEDAR+ at 'The re-opening of PharmAla's domestic Canadian distribution has allowed us to execute as much volume in Q2 and Q3 as we did in all of the last fiscal year. The creation of our Prescriber's Portal has also allowed us to build a much closer relationship with our doctor customers, which we believe will serve us well moving forward,' said Nick Kadysh, CEO, PharmAla Biotech. 'As we move into the last quarter of Fiscal '24-25, we are incredibly pleased that a large shipment of LaNeo MDMA has arrived at our US distribution partner for delivery to a considerable group of clinical trial customers, most previously announced. PharmAla is also pleased to announce the completion of a manufacturing run in Australia for our 40mg LaNeo Capsules. These capsules were jointly manufactured for both Cortexa's use within Australia and PharmAla's use worldwide, and our improved manufacturing process should yield operational benefits well into the future.'
