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June 28, 2024

AlphaGen Announces New CEO Paul Sparkes

Sparkes, Ex-CTV Globemedia EVP, Corporate Affairs and accomplished business leader and entrepreneur with experience in media, finance, capital markets to lead the company. 

Company Also Announces Proposed Debt Settlement in Connection to Change of Leadership.

Vancouver, British Columbia, June 28, 2024 – AlphaGen Intelligence Corp. (CSE: AIC; OTC: APETF; FSE: W4V) (the “Company”) announces Paul Sparkes as new CEO, effective immediately. Mr. Brian Wilneff has stepped down as Chief Executive Officer of the Company and resigned from the Board of Directors of the Company. 

Alpha has appointed Mr. Paul Sparkes to serve as the Company’s Chief Executive Officer and to the Board of Directors of the Company. Mr. Sparkes is an accomplished business leader and entrepreneur with over twenty-five years of experience in media, finance, capital markets and Canada’s political arena. Paul spent a decade as a leader in the broadcast and media industry as CTV globemedia’s Executive Vice President, Corporate Affairs. He also held senior positions in public service, including with the Government of Canada as Director of Operations to Prime Minister Jean Chretien and Special Assistant for Atlantic Canada, and as a senior aide to two Premiers of Newfoundland and Labrador. Paul was a Co-Founder and Executive Vice Chairman at Difference Capital Financial and serves on several private and public boards. Paul was most recently President of Otterbury Holdings Inc. and the Chief Executive Officer of Vortex Energy Corp. and is an advisor and deal maker for growth companies in the private and public markets. 

“On behalf of the Board of Directors, I would like to thank Brian for his service as the Chief Executive Officer of the Company,” said Mr. Jonathan Anastas, Chair of the Board of Directors. “Under Brian’s leadership, the Company achieved several significant milestones, including the company’s public offering, acquiring Shape Immersive and securing a long-term contract to create and launch a large retail metaverse for a multi-billion-dollar international brand. We wish Brian luck in his next endeavors and welcome Paul to the Company and the Board of Directors”. 

“I am very excited to be joining the Company at this critical juncture and look forward to working with the Board of Directors and management team to generate value for shareholders”, said Mr. Sparkes.

In connection with Mr. Wilneff’s departure from the Company, the Company intends to settle outstanding debt owed to Mr. Wilneff in an amount of C$102,750 through the issuance of 2,055,000 common shares of the Company to Mr. Wilneff. Further, pursuant to Milestone’s achieved pursuant to Mr. Wilneff’s CEO contract, Mr. Wilneff will receive an additional 607,444 common shares. All shares are deemed to have been issued at a price of C$0.05 per common share. Any common shares issued to Mr. Wilneff as part of the debt settlement and milestone reached will be subject to a statutory four month and one day hold period in accordance with applicable securities laws. These share issuances are subject to acceptance by the Canadian Securities Exchange and is expected to close on or about July 9, 2024.

About AlphaGen Intelligence Corp.

AlphaGen Intelligence Corp. (CSE: AIC) (OTC: APETF) (FSE: W4V) is a publicly traded company, holding a portfolio of assets in gaming, entertainment, eCommerce, and retail. Operational units include: Shape Immersive, a full service metaverse studio building the future of gaming and virtual retail experiences for Fortune 500 companies and beyond through 3D, spatial computing, and game production; MANA, a SaaS solution and innovation lab that empowers partner companies to level up their community engagement by launching their own gaming platforms; AlphaGen clients and partners include RTFKT, Olympics, Red Bull, Intel, TED and more. Learn more at: https://alphagen.co

Contact:

InvestorRelations: info@alphagen.co - 604 359 1256

Media and Public Relations: info@alphagen.co

On Behalf of the Board of Directors:

Jonathan Anastas

Chairman of the Board

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the debt settlement, including the closing and the anticipated closing date thereof.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, the assumption that the Canadian Securities Exchange will accept the terms of the debt settlement and that the debt settlement will proceed as currently anticipated on the timing currently anticipated.

Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, the risk that the debt settlement does not close on the timeline expected, or at all, including as a result of failure to receive the approval of the Canadian Securities Exchange for the debt settlement. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this ‎press release.‎

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