Genesis AI Raises $120,000 Through 2 Million Unit Private Placement
The company raised $120,000 through a non-brokered private placement of 2 million units, each comprising one common share and one warrant exercisable at $0.10 over 24 months. Net proceeds will support general administrative expenses and pursuit of new business opportunities.
1. Private Placement Structure
Genesis AI completed a non-brokered private placement at $0.06 per unit, issuing up to 2 million units. Each unit consists of one common share and one warrant, with the warrant exercisable at $0.10 per share for 24 months.
2. Proceeds Allocation
The company intends to allocate the net proceeds of $120,000 primarily towards general and administrative expenses. Additional funds will support the pursuit of new business opportunities aligned with the company’s strategic objectives.
3. Business Focus
Genesis AI develops AI-driven solutions for wildfire protection and mineral exploration. Its flagship Wildfire Defense Solutions platform leverages machine learning and data analytics to model forest and community risk profiles for smarter resource management.