XMachina AI group Inc. enters into discussions to secure a $250m USD debt facility
VANCOUVER, BC, CANADA, June 27, 2024 /EINPresswire.com
XMachina AI Group Inc., formerly 1210352 B.C. Ltd., (the “Company” or “XMachina”) announces that it has entered into discussions to secure a commitment for a debt facility of $250 Million USD to support its acquisition strategy.
“The Company is excited to be able to accelerate the acquisition of its identified Artificial Intelligence (“AI”) data and infrastructure targets”, commented Claude Theoret, CEO of XMachina. “The magnitude of this debt facility will enable XMachina to fast-track closing of its current targeted opportunities as well as increase the number and size of new targets. The final closing of the financing is expected to be completed before the end of August 2024.
“With over 1,100 companies currently being tracked by XMachina, the Company will begin the process of completing their due diligence and enter into binding share purchase agreements on an accelerated basis.” continued Mr. Theoret. “With the goal of acquiring cash-flowing entities, this facility aligns perfectly with our acquisition model.”
The Company wishes to offer its appreciation for the continued support of its shareholders that have enabled the Company to achieve this important milestone.
About the company
XMachina AI Group Inc. acquires companies that are applying AI and advanced data analytics in innovative ways to solve real-world business problems. The Company then accelerates their growth by injecting capital, top tier talent and by streamlining its corporate processes. Current sectors of interest for the Company include supply chain and logistics, manufacturing, construction, and real estate management. For more information, please visit https://machina-ai.com.
Media Contact
XMachina AI Group Inc.
Patrick Brown
Chief Financial Officer & Director
T: 514-560-4628
E: pbrown@machina-ai.com
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This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
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The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
