Canadian Company YOUNET Set to Revolutionize Personal Assistance with AI Platform Rabbit AI
YOUNET, a privately held Canadian company, is on the brink of transforming the world of personal assistance with their ground-breaking artificial intelligence (AI) platform called Rabbit AI. Unlike traditional personal assistants, Rabbit AI is designed to handle tasks autonomously, leveraging advanced algorithms and machine learning capabilities.
The platform’s primary function is to generate written content and responses, ranging from emails and texts to complete documents, depending on the user’s needs. Rabbit AI can effectively sift through vast amounts of information and communications to provide accurate and timely replies, making it the ultimate virtual assistant.
To solidify their position in the market and propel the development of Rabbit AI, YOUNET has recently entered into a share purchase agreement with an undisclosed party. The transaction, valued at an impressive $855,000, will be completed through a combination of cash and common shares.
Upon closing the acquisition, YOUNET will pay $250,000 in cash as part of the consideration. The remaining $605,000 will be satisfied by issuing 27,500,000 common shares at a deemed price of $0.022 per share. In return, YOUNET will acquire 26,666,667 common shares of the AI platform, equal to a 20% stake of YOUNET’s issued and outstanding shares.
The completion of the acquisition is anticipated to take place no later than July 31, 2023, subject to customary closing conditions and regulatory approvals, including the approval of the Canadian Securities Exchange (CSE). Both the management and board of directors of YOUNET and Rabbit AI have unanimously expressed their support for the acquisition.
It is worth noting that the acquisition is an independent and arm’s-length transaction. None of Rabbit AI’s directors or shareholders have any existing relation with YOUNET. Additionally, the acquisition will not create any new 10% shareholder for YOUNET.
In connection with the acquisition, YOUNET has agreed to pay a finder’s fee of $100,000 to an arm’s length party. The finder’s fee will be settled through the issuance of 4,545,454 common shares at a price of $0.022 per share.
YOUNET’s parent company, Stock Trend Capital Inc., is an investment issuer primarily focused on the artificial intelligence and Canadian cannabis industries. By investing in entities with strong intellectual property, exceptional management, and high growth potential, Stock Trend aims to establish a prominent presence in the market.
While these developments signify significant progress for YOUNET and Rabbit AI, it is important to approach the future with cautious optimism. Forward-looking statements included in this announcement are subject to various risks and uncertainties that may cause actual results to differ materially from expectations. Factors such as YOUNET’s ability to continue its operations and develop revenue-generating applications, regulatory approvals, and Rabbit AI’s growth potential may impact the successful realization of their goals.
In conclusion, YOUNET’s acquisition of Rabbit AI marks a significant milestone in the field of personal assistance. With their innovative AI platform, Rabbit AI has the potential to revolutionize the way tasks are handled and responses are generated. As YOUNET and Rabbit AI move forward, they aim to establish themselves as leaders in the AI technology sector, promoting efficiency and convenience in personal and professional communications.
