Genesis AI to settle $200,000 debt with 1.48 M shares

Mr. Dev Randhawa reports GENESIS AI ANNOUNCES SHARES FOR DEBT SETTLEMENT Genesis AI Corp. has approved the settlement of $200,000 of indebtedness through the issuance of an aggregate of 1,481,481 common shares. They will be issued at a deemed price of 13.5 cents. The company will enter into shares-for-debt agreements with the creditor in connection with the debt settlement. The issuance of the 1,481,481 settlement shares constitutes a related party transaction as such term is defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Another 397,221 settlement shares will be issued to former board members. The company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of such settlement shares nor the debt exceeds 25 per cent of the company's market capitalization. The debt settlement is subject to Canadian Securities Exchange acceptance. The shares will be subject to a four-month-and-one-day hold. About Genesis AI Corp. Genesis AI is committed to developing advanced AI-driven (artificial intelligence) solutions for wildfire protection and improved mineral exploration outcomes. The company's flagship platform, Wildfire Defense Solutions, leverages AI, machine learning and data analytics to build digital models of forests and communities, helping stakeholders make smarter, data-driven decisions in managing natural resources and wildfire risks. We seek Safe Harbor.