Alset Capital Inc. Announces Certain Shareholders Have Entered into 18-month Voluntary Pooling Agreements and Undertakings, and Announces Non-Brokered Private Placement - Seite 2

The Company intends on using the net proceeds from the Offering for capital expenditures, working capital and general corporate purposes.

All securities issued pursuant to the Offering are subject to a statutory hold period of four (4) months plus one (1) day from the date of issuance, in accordance with applicable securities legislation. Closing of the Offering is subject to a number of prescribed conditions, including, without limitations, approval of the TSX-V.

Amendment to Prior News Release

The Company would also like to clarify that there was an error in its prior news release filed on SEDAR+ on March 27, 2024 (the "Prior News Release"). The Prior News Release inadvertently referred to the Company's long-term incentive plan rather than omnibus incentive plan, which was adopted by the Company's Board of Directors on March 27, 2024 (the "Omnibus Plan"). The Omnibus Plan replaces the Company's current share option plan dated January 31, 2018, as amended and restated on October 28, 2022 and restricted share unit plan dated September 16, 2016. The Company confirms that pursuant to the disclosure provided in the Prior News Release, the Company granted incentive stock options (the "Options") to purchase up to 6,000,000 common shares in the capital of the Company and restricted share units ("RSUs") to purchase up to 3,000,000 common shares in the capital of the Company to certain directors, officers and consultants (the "Participants") of the Company pursuant to the Company's Omnibus Plan. All other details pertaining to the Options and RSUs granted on March 27, 2024, remain the same.

The Omnibus Plan and grant of Options and RSUs to the Participants are subject to TSX-V and shareholder approval.

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 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 anticipates significant revenue growth.