Monday, June 17, 2024

Biopharma Stocks (NYSE American: $ATNM) (NASDAQ: $BPTH) (NASDAQ: $STTK) (NASDAQ: $MBRX) Quest for Solutions for Acute Myeloid Leukemia (AML); @ActiniumPharma @BioPathHoldings @ShattuckLabs @moleculinbio

Biopharma Stocks (NYSE American: $ATNM) (NASDAQ: $BPTH) (NASDAQ: $STTK) (NASDAQ: $MBRX) Quest for Solutions for Acute Myeloid Leukemia (AML); @ActiniumPharma @BioPathHoldings @ShattuckLabs @moleculinbio

 




June 17, 2024 - Investorideas.com, a go-to investing platform releases the first of a two-part series looking at developments for the treatment of blood cancers. Today’s snapshot focuses in on acute myeloid leukemia (AML) and the companies developing innovative solutions, featuring Actinium Pharmaceuticals, Inc. (NYSE AMERICAN:ATNM). Actinium is a leader in the development of Antibody Radiation Conjugates (ARCs) and other targeted radiotherapies.

 

“Acute myeloid leukemia (AML) is a cancer of the bone marrow and the blood that progresses rapidly without treatment. AML mostly affects cells that aren’t fully developed, leaving these cells unable to carry out their normal functions. It can be a difficult disease to treat; researchers are studying new approaches to AML therapy in clinical trials,” says the Leukemia Lymphoma Society.

 

There is a huge market opportunity for companies that offer solutions for AML. The Acute Myeloid Leukemia Market was valued at USD 2.1 billion in 2023 and is estimated to grow at a CAGR of 10.7% between 2024, reports GMI Insights .

 

With breaking news on AML treatment, Actinium Pharmaceuticals, Inc. (NYSE AMERICAN:ATNM) just announced that an abstract detailing the first ever preclinical data from the combination of menin inhibitors with Actinium’s ARC Actimab-A in acute myeloid leukemia (AML) models was presented at the 2024 European Hematology Association (EHA) Congress held June 13 – 16, 2024, in Madrid, Spain. Actinium studied Actimab-A in combination with the leading menin inhibitors, revumenib (Syndax Pharmaceuticals, Inc.) and ziftomenib (Kura Oncology, Inc.), which are being developed for patients with KMT2A rearrangements and NMP1 mutations, which are present in approximately 10% and 30% of AML patients, respectively.

 

Paid news dissemination on behalf of Actinium

 

Read this article, featuring ATNM in full at https://www.investorideas.com/news/2024/biotech/06171Biopharma-Stocks.asp

 

Actimab-A + Menin inhibitor combination results include:

-        Actimab-A as a single agent showed potent AML cell killing activity in KMT2A harboring cells in both MV-4-11 and MOLM-13 cell lines in vitro compared to the non-radio conjugated CD33 antibody lintuzumab (p<0.0001)

 

-        Actimab-A enhanced AML cell death when combined with both revumenib and ziftomenib at all dose levels in difficult to treat KMT2A AML

 

-        The combination of Actimab-A with leading menin inhibitors triggered an acute increase in AML necrosis and cell death relative to single agent therapy within 72 hours of dosing

 

-        Anti-tumor effect was significantly potentiated and prolonged when combining Actimab-A with a leading menin inhibitor compared to monotherapies in xenograft leukemia models in vivo (p<0.0024 Actimab-A + menin) as shown in the exhibit below

 

The Actimab-A + Menin Inhibitor combination presentation can be accessed on the investor relations page of Actinium’s website here.

 

Actimab-A targets CD33, a marker expressed ubiquitously in patients with AML, and is conjugated with the alpha-partible payload Actinium-225. The broad expression of CD33 and the differentiated mutation agnostic cell-killing mechanism of targeted radiotherapy make Actimab-A broadly applicable for combinations with chemotherapy, targeted agents including venetoclax, FLT3 and menin inhibitors, immunotherapies and cellular therapies supporting its potential backbone therapy profile across the AML patient treatment journey.

 

Sandesh Seth, Actinium’s Chairman and CEO said, “Combining with menin inhibitors is an exciting expansion of the already broad potential of Actimab-A in AML. Across single agent and combination studies, Actimab-A has produced high rates of response, MRD negativity and improved survival in high-risk, relapsed and refractory patients including those with a TP53 mutation and venetoclax failures. The broad expression of CD33 in AML coupled with the potency of Actinium-225 make Actimab-A an ideal agent for treating radiation sensitive AML. We are encouraged by this highly promising initial data and the synergistic potential of Actimab-A with menin inhibitors, which has broad potential across the AML treatment continuum including frontline, maintenance and relapsed/refractory settings. We are eager to continue to study this combination and generate additional data that could support advancing into clinical studies of Actimab-A with menin inhibitors.”

 

Menin inhibitors are a class of drug candidates being developed for patients with AML that have a rearrangement of the KMT2A gene, previously known as the mixed-lineage leukemia (MLL) or mutation of the NPM1 gene. There are multiple menin inhibitors in development for these patients with revumenib (Syndax Pharmaceuticals, Inc.) being most advanced having a PDUFA data of September 2024 and ziftomenib (Kura Oncology, Inc.) enrolling patients in a registration Phase 2 trial. Multiple menin inhibitors are being studied in Phase 1 clinical trials by companies including Johnson & Johnson, Sumitomo Pharma Co., Ltd., Hutchmed, Biomea Fusion, Inc. and BioNova Pharmaceuticals Pvt Ltd.

 

Bio-Path Holdings, Inc. (NASDAQ:BPTH), a biotechnology company leveraging its proprietary DNAbilize® liposomal delivery and antisense technology to develop a portfolio of targeted nucleic acid cancer drugs, announced it has presented interim results from the Company’s Phase 2 study of prexigebersen (BP1001) in combination with decitabine and venetoclax for the treatment of acute myeloid leukemia (AML) in a poster presentation at 2024 European Hematology Association (EHA) Congress, on June 14, 2024 in Madrid, Spain.

 

More from the News: Jorge Cortes, M.D., Director of the Georgia Cancer Center, presented data showing prexigebersen continues to be well-tolerated and has now demonstrated compelling efficacy results in two reporting cohorts including evaluable newly diagnosed AML patients and evaluable refractory/relapsed AML patients, both of which exceeded outcomes with frontline therapy.

 

“It was a pleasure to present these compelling data to an audience of European oncologists who treat AML patients and understand the continued great need for new therapeutic options,” said Peter Nielsen, Chief Executive Officer of Bio-Path. “Given that our study is being conducted in the U.S., this encore presentation is an important step towards educating global oncology leaders on the benefits of prexigebersen and its potential to be another tool in their fight against AML.”

 

Also looking for answers for AML patients, Shattuck Labs, Inc. (Nasdaq: STTK), a clinical-stage biotechnology company pioneering the development of bifunctional fusion proteins as a potential new class of biologic medicine for the treatment of patients with cancer and autoimmune disease, recently announced updated interim data from the Phase 1B dose expansion clinical trial of SL-172154 in combination with AZA in frontline HR-MDS and TP53m AML patients. These data are to be featured in a poster presentation on June 14, 2024 at 18:00 CEST, during the European Hematology Association (EHA) 2024 Congress.

 

“We are pleased to present additional data from our Phase 1B dose expansion clinical trial, which further supports our differentiated mechanism of action and underscores SL-172154’s emergence as the leading CD47 inhibitor in hematologic malignancies,” said Taylor Schreiber, M.D., Ph.D., Chief Executive Officer of Shattuck. “This update shows that the rate of complete remission has improved since our last data release in December, with additional patients in both cohorts who continue to improve on therapy. As a result of these encouraging data, and our expectation of rapid enrollment and progress in our ongoing randomized, controlled cohort in HR-MDS, we are focusing our efforts on our opportunity in HR-MDS and TP53m AML. These are indications with high unmet need, limited competition, and potential for accelerated paths to approval.”

 

More from the news: Dr. Lini Pandite, MBChB, M.B.A., Chief Medical Officer of Shattuck added, “We are encouraged by the maturing data that continues to underscore the therapeutic potential, and manageable safety profile, of SL-172154 for patients with previously untreated HR-MDS and TP53m AML. Accumulating clinical evidence now shows the pharmacodynamic contribution of CD40 activation in the peripheral blood, and an emerging correlation between clinical remission and CD40 mediated induction of certain cytokines. The TP53m AML and HR-MDS patients we have treated represent a high-risk group with short duration of complete remission and overall survival when treated with azacitidine alone. Median overall survival and duration of remission have not yet been achieved, and we look forward to sharing additional durability data later this year. Enrollment is now underway for our randomized, controlled expansion cohort in frontline HR-MDS patients, and we expect to engage in regulatory discussions later this year regarding the registrational strategy for SL-172154.”

 

Moleculin Biotech, Inc., (Nasdaq:MBRX), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting hard-to-treat tumors and viruses, last week reported additional efficacy findings from the Company's ongoing Phase 1B/2 (MB-106) clinical trial evaluating Annamycin in combination with Cytarabine (also known as "Ara-C" and for which the combination of Annamycin and Ara-C is referred to as AnnAraC) for the treatment of subjects with acute myeloid leukemia (AML). The preliminary data was presented at the European Hematology Association (EHA) 2024 Hybrid Congress. The Company also hosted a data presentation to leading AML experts as part of a KOL meeting held in conjunction with EHA 2024 Congress.

 

More from the news: To date, a total of 22 subjects have been enrolled (the Intent-to-Treat population, ITT), 20 (Lines 1st-7th) of whom have completed efficacy evaluations with 9 subjects (45%) achieving a composite complete remission (CRc or CR/CRi), consisting of 8 (40%) subjects with complete remission (CR) and one subject with complete remission with an incomplete recovery of peripheral blood counts (CRi), following treatment with AnnAraC. Efficacy outcomes for 2 additional subjects (enrolled and treated) are pending.

 

Of the 10 ITT subjects for whom AnnAraC was administered in the 2nd line setting, 5 achieved a CR (50%) and 6 achieved a CRc (60%). Of the 13 subjects in the ITT evaluable population that were 1st or 2nd line treatment, 7 achieved a CR (54%) and 8 achieved a CRc (62%). The mDOR for the 9 subjects who achieved a CRc is approximately 6 months and climbing. Additionally, the median overall survival in the 2nd line subjects (n=10) is approximately 6 months and increasing.

 

Continued: Additionally, 89% of the subjects included in the CRc group (n=9) had cytogenetics and/or mutations generally considered to contribute to a poor prognosis. These include FLT3, IDH2, ASXL1, KMT2A and others. While not yet statistically relevant, the Company believes such cytogenetic and mutation data are informative to clinicians.

 

"We continue to be highly encouraged by the positive growing body of preliminary clinical data demonstrated by Annamycin in the treatment of patients with AML," commented Walter Klemp, Chairman and Chief Executive Officer of Moleculin. "While still preliminary, we believe the efficacy to date including the climbing durability of response demonstrated by AnnAraC in 2nd line patients continues to significantly exceed the performance reported by any drug currently approved for use in 2nd line AML. We are incredibly pleased with the progress of the trial and the data and continue to advance our preparations for an End of Phase 2 meeting with FDA."

 

The American Cancer Society’s estimates for leukemia in the United States for 2024 are: “About 62,770 new cases of leukemia (all kinds) and 23,670 deaths from leukemia (all kinds), .about 20,800 new cases of acute myeloid leukemia (AML);most will be in adults. About 11,220 deaths from AML; almost all will be in adults.”

 

In addition to Actinium’s (NYSE AMERICAN:ATNM) ARC Actimab-A, Iomab-B, their lead asset is being studied in the pivotal Phase 3 SIERRA clinical trial as an induction and conditioning agent in patients over the age of 55 with active relapsed or refractory Acute Myeloid Leukemia (AML) prior to receiving a bone marrow transplant (BMT), also known as a hematopoietic stem cell transplant or HSCT.

 

Actinium’s ambitions expand beyond AML, with the company saying, “We are continuing to expand our drug development pipeline of targeted radiotherapies for patients with blood cancers and solid tumors. Our intellectual property portfolio includes more than 220 patents and patent applications worldwide.”

 

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Disclaimer/Disclosure: This news article featuring ATNM is a paid for news release creation and dissemination on Investorideas.com.  Our site does not make recommendations for purchases or sale of stocks, services or products.  This is not investment opinion: Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services and prices on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

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Saturday, June 15, 2024

Exploring Mining Podcast with Panther Minerals Inc. (CSE: $PURR.CN) - The Hunt for Uranium in Alaska; @PantherMinerals



 
Exploring Mining Podcast with Panther Minerals Inc. (CSE: $PURR.CN) - The Hunt for Uranium in Alaska; @PantherMinerals
 
CEO, Rob Birmingham, Discusses opportunities in Uranium and Summer Exploration Plans for Panther Minerals
 
Investorideas.com, a global investor news source covering mining and metals stocks releases today’s Exploring Mining Podcast, featuring another Saturday edition with Rob Birmingham, CEO of Panther Minerals Inc.(CSE: PURR)
 
In this episode, host Cali Van Zant talks to Rob about mining for uranium in Alaska, Panther’s Fireweed prospect, and the Boulder Creek Property (more info here).
Rob speaks about why energy independence and nuclear capability are important.
He also talks about some of the historic drill results for their property. Full company press release here
 
Listen to the podcast
https://www.spreaker.com/episode/panther-minerals-inc-the-hunt-for-uranium-in-alaska--60389196
 
Watch the episode on YouTube:
https://youtu.be/XMqJX1aCwu8
 
Read this in full at https://www.investorideas.com/news/2024/exploring-mining/06151Rob-Birmingham-PURR-Uranium.asp
 
Listen to Exploring Mining podcast on iTunes Apple podcasts   
 
Listen to Exploring Mining on Spotify
 
 
About Panther Minerals Inc.
 
Panther Minerals Inc. is a mineral exploration company actively involved in the exploration of its North American project portfolio. https://pantherminerals.ca/
 
Boulder Creek Deposit
 

Discovered in 1977 in western Alaska, by means of airborne radiometric data, Boulder Creek is the most northerly known sandstone-type property in the world which may host Uranium
 
First explored by Houston Oil & Minerals between 1979 and 1981 – completing 52 core holes (3,463 m) and about 60 m of near-surface split-tube sampling in 21 holes ¹
 
Lastly explored by Triex Minerals between 2006-8 – completing 22 core holes (2,217m) + Historical Geochem, airborne radiometric data and surface prospecting ²
 
Boulder Creek has a historic resource estimate (non-National Instrument 43-101 compliant) of one million pounds U308 at an average grade of 0.27 per cent and average thickness of three metres and depth of mineralization from surface to 120 metres.
 
The foregoing is a historical estimate made prior to the implementation of National Instrument 43-101 — Standards of Disclosure for Mineral Projects and was not prepared in accordance with the requirements of NI 43-101, nor does it use the categories of mineral resources set forth in NI 43-101.
 
District Scale Expansion

Significantly enlarged Boulder Creek Uranium property now comprising 9,065 Ha – extending North Northwest – South Southeast for approximately 30 KMs and between 3 to 7Km in width
 
Strategic expansion to include prospective Fireweed target discovered due to strong airborne radiometric anomalies ¹
 
Significant potential for discoveries on largely unexplored project
 
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Research mining stocks at Investorideas.com with our mining stocks directory at Investorideas.com https://www.investorideas.com/Gold_Stocks/Stocks_List.asp 
 
About Investorideas.com - Big Investing Ideas
Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors.
 
Disclaimer/Disclosure:  This podcast and article featuring Panther Minerals Inc is a paid for service on Investorideas.
Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. Contact management and IR of each company directly regarding specific questions. Panther Minerals Inc. is a paid featured advertisement podcast stock on Investorideas.com and Exploring Mining. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp
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Friday, June 14, 2024

Powering Ahead with Lithium Stocks - (ASX: $PAT.AX) (LSE: $ZNWD.L) (Nasdaq: $SGML) (CSE: $SPOD.CN)

Powering Ahead with Lithium Stocks - (ASX: $PAT.AX) (LSE: $ZNWD.L) (Nasdaq: $SGML) (CSE: $SPOD.CN)

 

Uranium Stocks to Watch - (CSE: $PURR.CN) (TSXV: $PUR.V) (OTCQX: $BNNLF; ASX: $BMN.AX)

 

 



 

 

June 14, 2024 – (Investorideas.com Newswire) Investorideas.com, a global news source and expert investing resource, announces today’s roundup of stocks to watch in the Mining sector.  

 

The newest companies mining lithium are listed across the ASX, LSE, Nasdaq, CSE and TSX Venture markets.

 

The latest uranium mining companies operate in the United States and Namibia.

 

Investor Ideas is always on the hunt for new stocks to add to our growing list of free stock directories. The directories are not meant as recommendations but as a research tool to discover opportunities and trading ideas in a particular sector. 

 

Read this in full at https://www.investorideas.com/news/2024/main/06141Stocks.asp

 

New Stocks Added to the Mining Directories:

Patriot Lithium Ltd (ASX:PAT) aims to systematically explore high-grade lithium projects across North America and prudently grow the portfolio with targeted M&A greenfield exploration.

 

Zinnwald Lithium PLC (LSE:ZNWD) is focused on becoming an important supplier of lithium hydroxide to Europe's fast-growing battery sector. The Company owns 100% of the Zinnwald Lithium Project in Germany, which has an approved mining licence, is located in the heart of Europe's chemical and automotive industries and has the potential to be one of Europe's more advanced battery grade lithium projects.

 

Sigma Lithium Corp (Nasdaq:SGML;TSX-V:SGML) is a leading global lithium producer dedicated to powering the next generation of electric vehicle batteries with carbon neutral, socially and environmentally sustainable chemical-grade lithium concentrate. Sigma Lithium operates at the forefront of environmental and social sustainability in the EV battery materials supply chain and is currently producing Quintuple Zero Green Lithium concentrate from its Grota do Cirilo Project in Brazil. Phase 1 of the project entered commercial production in 2Q23 and has an annual capacity of 270,000 tonnes of concentrate (36,700 LCE annually). The Company has issued a Final Investment Decision formally approving plans to nearly double capacity to 520,000 tonnes of concentrate through the addition of a Phase 2 concentrate mine and associated mine. The project produces lithium concentrate at its state-of-the-art Greentech lithium plant that uses 100% renewable energy, 100% recycled water and 100% dry-stacked tailings.

 

Spod Lithium Corp. (CSE:SPOD) is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals. The Company’s flagship assets are its Lithium properties located in the James Bay region of Quebec and the Nipigon and Niemi regions of Ontario, Canada.

 

Panther Minerals Inc. (CSE:PURR) owns The Boulder Creek Uranium Deposit, also known as “Death Valley” in early literature, located on the Seward Peninsula in Northwestern Alaska. The company was formerly known as Lithium Lion Metals Inc. and changed its name to Panther Minerals Inc. in April 2024.

 

Premier American Uranium Inc. (TSXV: PURis focused on the consolidation, exploration, and development of uranium projects in the United States. One of PUR’s key strengths is the extensive land holdings in two prominent uranium-producing regions in the United States: the Great Divide Basin of Wyoming and the Uravan Mineral Belt of Colorado. With a rich history of past production and historic uranium mineral resources, PUR has work programs underway to advance its portfolio. Backed by Sachem Cove Partners, Consolidated Uranium and additional institutional investors, and an unparalleled team with U.S. uranium experience, PUR’s entry into the market comes at a well-timed opportunity, as uranium fundamentals are currently the strongest they have been in a decade.

 

Bannerman Energy Ltd. (OTCQX: BNNLFASX: BMN) is an Australian listed uranium development company focused on the development of its flagship Etango Uranium project in Namibia. The Project has been strongly de-risked through extensive drilling, technical evaluation and operation of a process demonstration plant. Etango is now fully permitted with the Mining Licence granted and all requisite environmental approvals in place. With these key milestones achieved, Bannerman has a clearly defined pathway to development. Front End Engineering and Design (FEED) studies for Etango are well progressed in parallel with advancing offtake and project finance workstreams. These activities are steadily culminating in a push towards a targeted positive Final Investment Decision (FID) for Etango, market conditions permitting, during 2024.

 


For the avid Mining Stock Investors – Check out our free comprehensive directory of 
Mining Stocks Mining Stocks Directory

 

 

 

Stay up to date on current mining sector news at https://www.investorideas.com/Gold_Stocks/

 

 


Check out the 
Exploring Mining podcast by Investor Ideas for the latest mining stock news and insightful interviews with top industry experts. We're proud to have been recognized as number 1 in the top 30 Mining Podcasts to listen to in 2024 by Feedspot based on a review of thousands of podcasts on the web and ranked by traffic, social media followers & freshness. Host Cali Van Zant interviews CEO's and analysts to give you insight into the sector. Stay ahead of the game with Exploring Mining.

 





About Investorideas.com - Big Investing Ideas

Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for various sectors, including gaming, biotech, tech and sports. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.

 

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Thursday, June 13, 2024

Breaking AI Stock News: Alset Capital Inc. (TSXV: $KSUM.V) (OTC: $ALSCF) Announces AI GPU Contract with a $91.7M Option Signed by Investee Company Cedarcross; @AlsetAI

Breaking AI Stock News: Alset Capital Inc. (TSXV: $KSUM.V) (OTC: $ALSCFAnnounces AI GPU Contract with a $91.7M Option Signed by Investee Company Cedarcross; @AlsetAI

 


NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

 

News Release Highlights:

 

Alset investee Cedarcross signs Nvidia H100 GPU server contract for an initial three (3) servers (for a purchase price of $1.37 million), with the customer having an option to acquire an additional 200 servers (for a purchase price of $91.7 million) valid until September 30, 2024.

 

Cedarcross achieves approx. $29.7 million cumulative revenue year to date with its high-performance computing ("HPC") server distribution business vertical alone.

 

Nvidia's H100 GPU Servers are used in "Transformational AI Training", offering up to "7x higher performance for High Performance Computing applications."1

 

VANCOUVER, BC, June 13, 2024 (Investorideas.com Newswire) Alset Capital Inc. (TSXV:KSUM(OTC: ALSCF(FSE:1R60, WKN:A3ESVQ) ("Alset" or the "Company") is pleased to announce that its investee company, Cedarcross International Technologies Inc. ("Cedarcross"), has signed an agreement with an arm's length counterparty, Big Energy Investments Inc., DBA Ceti AI ("Ceti AI") to distribute three (3) Nvidia H100 HGX 8GPU servers, which is anticipated to generate $1.37 million in revenue for Cedarcross, with an option for the counterparty to acquire up to 200 H100 HGX 8GPU servers, which if exercised would generate $91.7 million in revenue (the "Transaction").

 

Following Cedarcross' two previously announced distribution agreements announced on April 22, 2024 and May 16, 2024, this agreement marks an important advancement in Cedarcross' distribution business within the high-performance computing (HPC) server market. Cedarcross has now secured cumulative revenue year to date of approximately $29.7 million through its HPC server distribution business vertical alone. These distribution agreements underscore the significant demand and strategic market positioning of Cedarcross in the HPC landscape.

 

This news is a paid advertisement/ news disseminated on behalf of/issued on behalf of Alset Capital Inc.

 

Read this news, featuring KSUM in full at https://www.investorideas.com/news/2024/technology/06131KSUM-AI-GPU-Contract.asp

 

"This transaction represents another significant milestone for Cedarcross" said Morgan Good, CEO of Alset. "It highlights their strong partnerships, which provide access to high-performance computing Nvidia GPU servers for both in-house use and third parties. Additionally, this distribution vertical enhances their existing compute leasing business unit, fostering diversity in their offerings and deeper market penetration."

 

The estimated gross margin from the initial $1.37 million purchase order is approximately $176k, and the estimated gross margin assuming all 200 H100 HGX 8GPU servers are purchased is approximately $11,782,000.

 

As of this announcement, the Company has been informed that Cedarcross has received a 10% downpayment for the initial $1.37 million purchase. The payment schedule is as follows:

 

$413,055 due within fourteen (14) days of June 4th, 2024

 

$275,370 due when the servers are ready to ship

 

$275,370 due upon receipt of the servers by Ceti AI

 

$275,370 due seven (7) days after Ceti AI receives and accepts the servers

 

The sale of up to 200 servers to Ceti AI is subject to Ceti AI obtaining approval from the Original Equipment Manufacturer (OEM) compliance.

 

All amounts in Canadian Dollars unless otherwise specified. These figures are converted from US dollars at an exchange rate of 1.37 (USD to CAD).

 

(1) Nvidia.com

 

On behalf of Alset Capital Inc.

 

"Morgan Good"

Morgan Good

Chief Executive Officer

 

About Alset Capital Inc.

Alset Capital Inc. is an investment issuer that is focused on investment in diversified industries such as technology, healthcare, industrial, special situations, operating businesses through both debt and equity using cash resources or shares in its capital. The Company is led by an experienced, entrepreneurial group of executives having a diverse industry and capital markets background.

 

Alset Capital Inc.'s investment portfolio comprises 49% ownership of Cedarcross International Technologies Inc. and 49% ownership of Vertex AI Ventures Inc.

 

About Cedarcross International Technologies Inc.

Cedarcross Technologies is an Artificial Intelligence cloud computing provider, with a vision of becoming one of Canada's largest AI compute providers. The Company is dedicated to democratizing access to cutting-edge AI computing, offering access to the world's fastest AI servers powered by Nvidia's H100 HGX 8GPU Servers. Focused on leasing compute resources to enterprise clients, Cedarcross Technologies anticipates significant revenue growth.

 

For further information about Alset Capital Inc., please contact:

Morgan Good, CEO and Director

T: 604.715.4751

E: morgan@alsetai.com

 

Cautionary Note regarding Forward Looking Statements

Certain statements in this press release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the consummation of the transactions contemplated by the distribution and option agreement, the closing of the Transaction as contemplated or at all, approval from OEM Compliance in the event the option to acquire the additional 200 Nvidia H100 HGX 8GPU servers is exercised, the Nvidia H100 HGX 8GPU servers' revenue generation, and the growth of the global cloud AI market. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

 

Cautionary Note Regarding Future Oriented Financial Information

This news release also contains future-oriented financial information and financial outlook (collectively, "FOFI") about the Cedarcross' forecasted revenues from the sale of the three Nvidia H100 HGX 8GPU servers and the option it has granted for the sale of an additional 200 Nvidia H100 HGX 8GPU servers and the receipt of OEM's approval if the option to acquire the additional 200 Nvidia H100 HGX 8GPU servers is exercised, which is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. FOFI contained in this news release was made by management as of the date of this news release and was provided for the purpose of providing readers with an understanding of the importance of such sale and option to Cedarcross' business, and are not an estimate of profitability or any other measure of financial performance. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein. The Company disclaims any intention or obligation to update or revise any FOFI contained in this News Release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.

 

Neither 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.

 

SOURCE: Alset Capital Inc.

 

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