New Wave Holdings Corp. (CSE:SPOR, FWB: 0XMB, OTCPK: TRMNK), an investment issuer with a focus on the esports, NFT, Metaverse, Blockchain, and Web3 sectors, announced that it has successfully finalized the acquisition of a 50% interest in Longevity AI Inc. a Delaware-based firm specializing in artificial intelligence for healthcare outcomes.
This strategic move, initially disclosed on November 23, 2023, follows the Share Exchange Agreement dated November 21, 2023, and subsequently amended on February 8, 2024.
The transaction involved New Wave issuing 12,000,003 common shares to the shareholders of Longevity, valued at $0.05 per share, with no hold periods under the current securities regulations. This acquisition does not constitute a Fundamental Change for New Wave according to Canadian Securities Exchange policies, nor does it alter the company’s control or management structure.
Longevity AI Inc. is at the forefront of integrating artificial intelligence with healthcare, specializing in connecting patients to advanced clinical treatments focused on biomarkers, longevity, anti-aging protocols, and the central nervous system. The company aims to revolutionize patient care by utilizing AI to tailor individual health outcomes with customized protocols, in collaboration with clinical partners and care providers.
In addition to the initial share issuance, New Wave has committed to issuing up to 10,000,000 additional shares to Longevity shareholders contingent upon achieving specific business milestones. These future issuances will be subject to a four-month holding period under Canadian Securities laws, aligning with the agreement’s terms for milestone achievements.
This acquisition marks New Wave’s strategic expansion into the emerging AI healthcare sector, reflecting its broader vision to support and invest in cutting-edge technologies and innovative growth companies.
BusinessNewsCanada.com