Mr. Morgan Good reports

ALSET CAPITAL INC. ANNOUNCES $26 MILLION H100 SERVER CONTRACT BY INVESTEE COMPANY CEDARCROSS

Alset Capital Inc.'s investee company, Cedarcross International Technologies Inc., has signed an agreement with an arm's-length counterparty to distribute 64 Nvidia H100 HGX 8GPU servers, which generates $26-million in revenue for Cedarcross.

Following Cedarcross's initial distribution agreement announced on April 22, 2024, this agreement marks a significant advancement in Cedarcross's distribution capabilities within the high-performance computing (HPC) server market. Cedarcross has now secured cumulative revenue year to date of approximately $28-million through its HPC server distribution business vertical alone. These agreements underscore the robust demand and strategic market positioning of Cedarcross in the HPC landscape. Leveraging key industry partnerships, including with Earthmade Computer Corp., an authorized distributor of Super Micro Computer Inc., Cedarcross continues to demonstrate its ability to secure competitive pricing and expedited lead times for highly sought-after Nvidia H100 GPU servers.

"This deal represents a significant milestone for Cedarcross," said Morgan Good, chief executive officer of Alset. "It substantially increases their revenue, and 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 this agreement will be approximately $2.3-million.

The company also announces that further to the company's news release of May 14, 2024, the company has increased the consideration payable pursuant to its extended engagement with Omni8 Communications Inc., doing business as Omni8 Global, to assist Alset to develop a corporate marketing strategy and provide marketing and public relations advisory services, help co-ordinate marketing, news flow and events, making introductions to Omni8 Global's network of media contacts, Internet and social media marketers and other such providers, as well as assist with various other public relations efforts. Alset shall pay Omni8 Global an additional $180,000 for the Omni8 extended term, which shall run for a period of two months and shall commence on the later of May 8, 2024, and the date the Omni8 extended term is accepted for filing by the TSX Venture Exchange. Omni8 Global is a British Columbia-based company and is headed by Ryan Johnson.

As of the date hereof, to the company's knowledge, Omni8 Global (including its directors and officers) does not own any securities of the company and has an arm's-length relationship with the company. The company will not issue any securities to Omni8 Global as compensation for its marketing services. For more information on the company's engagement of Omni8 Global, please refer to its news release of March 27, 2024, and May 14, 2024.

About Alset Capital Inc.

Alset Capital is an investment issuer that is focused on investment in diversified industries such as technology, health care, 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's investment portfolio comprises 49-per-cent ownership of Cedarcross International Technologies and 49-per-cent 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.

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