GenAI Provides Update on Status of Annual Financial Statements

Generative AI Solutions Corp. (“GenAI” or the “Company”) is providing this update to its previously announced management cease trade order (the “MCTO”) granted by the British Columbia Securities Commission (the “OSC”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”).

Pursuant to the MCTO, the Corporation’s CEO, Patrick Gray, and the Corporation’s CFO, Paul Ciullo, may not trade in securities of the Corporation until such time as the Corporation files its annual audited financial statements, annual management’s discussion and analysis and related certifications for the year ended January 31, 2025 (collectively, the “Annual Filings”), and the BCSC revokes the MCTO.

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The MCTO does not affect the ability of shareholders, other than the Company’s CEO and CFO, to trade their securities.

The filing of the Company’s unaudited interim financial statements, management’s discussion and analysis and related CEO and CFO certifications for the three-months ended April 30, 2025 (the “Interim Filings”, and together with the Annual Filings, the “Required Documents”), have also been delayed as a result in the delay in completing the Annual Filings. The Company expects the Interim Filings to be filed concurrently with the Annual Filings.

The Company is working diligently with its auditors and expects that the Required Documents will be filed as soon as possible. The MCTO will remain in effect until two full business days following the receipt by the OSC of all filings the Company is required to make under applicable securities law (including the Required Documents).

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As previously reported, the delay is outside of the Company’s control and due solely to quality review of audit procedures and financial review procedures of their external auditor, including in respect of the treatment of certain acquisitions of the Company and their presentation in the financial statements.

The Company confirms that it intends to satisfy the provisions of NP 12-203 and issue bi‑weekly default status reports for so long as the Company remains in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by the Company to remedy the default; particulars of any failure by the Company to fulfill these provisions, any subsequent defaults of the Company requiring a default announcement and any other material information concerning the affairs of the Company not previously disclosed.