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GENAI ANNOUNCES TERMINATION OF SUPPLY AGREEMENT

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VANCOUVER, BC, Nov. 6, 2024 /PRNewswire/ – Generative AI Solutions Corp. (“GenAI” or the “Company”) (CSE: AICO) (OTCQB: AICOF) announces the termination of the previously announced GPU supply agreement, and intention to enter into sales agreement for GPU supply.

The Company previously announced in its July 13, 2023 press release that its wholly owned subsidiary, MAI Cloud Solutions Inc. (“MAI Cloud”), had entered into a purchase agreement dated July 12, 2023 (the “Supply Agreement”) with an arm’s length third-party customer headquartered in Silicon Valley (the “Customer”) pursuant to which, among other things, MAI Cloud agreed to provide the Customer with access to approximately 350,000 hours per year of artificial intelligence (“AI”) compute services (the “Services”) using NVIDIA H100 graphics processing units (the “Equipment”), subject to the terms and conditions of the Supply Agreement.

On November 5, 2024, the Company and the Customer agreed to jointly terminate the Supply Agreement (the “Termination”). The Termination was the result of the Supply Agreement being insufficiently flexible for the commercial requirements of the developing AI market, and the Customer and the Company expect to enter into a new agreement whereby the Customer will market the Equipment to its users for a sales commission, with the remaining revenue paid directly to the Company. The Company and the Customer had originally expected the Supply Agreement to remain in force for a longer term however the Supply Agreement was entered into during the infancy period of generative AI technology, and with the changing landscape of AI equipment supply and commercialization, the Company and the Customer are able to more efficiently market the Equipment under a new arrangement.

On Behalf of the Board of Directors,‎

Ryan Selby

CEO, Director, and Chairman of the Board of Directors

Generative AI Solutions Corp.
Toll-free North America: +1-833-879-7632‎
Outside North America: +1-406-879-7632
info@genai-solutions.com  
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.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/genai-announces-termination-of-supply-agreement-302298091.html

SOURCE GENERATIVE AI SOLUTIONS CORP.

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Media advisory – Minister Champagne to confirm an investment in the Canadian telecommunications sector

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58 mins ago

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November 7, 2024

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OTTAWA, ON, Nov. 6, 2024 /CNW/ – The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, will confirm an investment in 5G and advanced network technologies.

Date: Thursday, November 7, 2024

Time: 4 pm (EST)

Location: Ottawa, Ontario

Members of the media are asked to contact ISED Media Relations at media@ised-isde.gc.ca to receive event location details and confirm their attendance. Media representatives are asked to arrive 15 minutes before the start of the event.

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Miami-Dade Voters Overwhelmingly Support Countywide Free Public Wi-Fi Expansion Led by Commissioner Kionne L. McGhee

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58 mins ago

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November 7, 2024

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MIAMI, Nov. 6, 2024 /PRNewswire/ — In a landmark vote, over 776,000 Miami-Dade residents, or 76.72% of voters, voiced strong support for expanding free public Wi-Fi access across the county. Spearheaded by Miami-Dade Commissioner Kionne L. McGhee, this non-binding initiative signals widespread public backing for efforts to bridge the digital divide and create greater internet access for all residents.

Commissioner McGhee, who has a distinguished background in public service as an assistant prosecutor, author, adjunct professor, and former Minority Leader of the Florida House, has made digital equity a priority. “This initiative is about ensuring that every family, student, farmer, and senior citizen in Miami-Dade has access to the internet—a critical resource in today’s world,” McGhee said. “Expanding free public Wi-Fi would help close the gap for marginalized communities and create opportunities for economic mobility and generational wealth.”

Many families in Miami-Dade, especially in low-income and underserved areas, still lack reliable internet access. According to Miami-Dade County Public Schools, approximately 25% of students—about 88,000 children—do not have access to high-speed internet at home, a gap that impacts their ability to complete homework, attend virtual classes, and use online resources critical for educational success.

The county’s senior citizens are also among the most digitally underserved. AARP reports that 34% of seniors in the U.S. do not have internet access at home. For older adults, reliable internet is vital to accessing health information, staying in touch with family, and connecting with social services. As Miami-Dade’s population ages, ensuring that seniors have access to free public Wi-Fi will help combat social isolation and improve quality of life.

“From schoolchildren to seniors, every resident in Miami-Dade deserves equal access to the digital tools that define our daily lives,” McGhee said. “This isn’t just a technology issue—it’s a matter of equity and opportunity.”

Rural communities in Miami-Dade also face unique connectivity challenges. Farmers, for example, rely on the internet for essential agricultural technologies like precision farming, weather tracking, and market data. Yet, 22% of farms across the U.S. still lack reliable internet access, according to the USDA.

“Expanding public Wi-Fi to rural areas would allow our farmers to access the latest technologies and remain competitive,” McGhee explained. “A digitally connected agricultural sector benefits everyone in Miami-Dade County.”

Cities like New York, San Francisco, and Kansas City have already adopted free public Wi-Fi to promote digital inclusion and foster innovation. By expanding public Wi-Fi, Miami-Dade can join these pioneering communities, moving closer to becoming a world-class county where no resident is left behind in the digital age.

“Miami-Dade can’t reach its full potential as a world-class community without ensuring that every resident has the tools to thrive in the 21st century,” said McGhee. “Expanding free public Wi-Fi is about more than just convenience—it’s about giving families, students, seniors, and farmers the digital resources they need to succeed.”

Contact: Juanita Olvera, Juanita.olvera@miamidade.gov

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SOURCE Commissioner Kionne L. McGhee

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Statement – Government of Canada orders the wind up of TikTok Technology Canada, Inc. following a national security review under the Investment Canada Act

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58 mins ago

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November 7, 2024

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OTTAWA, ON, Nov. 6, 2024 /CNW/ – Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, made the following statement:

“As a result of a multi-step national security review process, which involves rigorous scrutiny by Canada’s national security and intelligence community, the Government of Canada has ordered the wind up of  the Canadian business carried on by TikTok Technology Canada, Inc. The government is taking action to address the specific national security risks related to ByteDance Ltd.’s operations in Canada through the establishment of TikTok Technology Canada, Inc. The decision was based on the information and evidence collected over the course of the review and on the advice of Canada’s security and intelligence community and other government partners.

“The government is not blocking Canadians’ access to the TikTok application or their ability to create content. The decision to use a social media application or platform is a personal choice. It is important for Canadians to adopt good cyber security practices and assess the possible risks of using social media platforms and applications, including how their information is likely to be protected, managed, used and shared by foreign actors, as well as to be aware of which country’s laws apply. The government encourages Canadians to consult the guidance issued by Communications Security Establishment Canada’s Canadian Centre for Cyber Security to help them assess these risks.

“The government’s decision was made in accordance with the Investment Canada Act, which allows for the review of foreign investments that may be injurious to Canada’s national security. The government applies enhanced scrutiny to investments that fall within the jurisdiction of the Investment Canada Act for a number of business sectors and activities, including the interactive digital media sector as outlined in the March 2024 Policy Statement on Foreign Investment Review in the Interactive Digital Media Sector.

“While Canada continues to welcome foreign direct investment, the government will act decisively when investments threaten our national security.”

Associated links

Policy Statement on Foreign Investment Review in the Interactive Digital Media SectorGuidelines on the National Security Review of InvestmentsProtect how you connect

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