VANCOUVER, BC, Jan. 6, 2025 /PRNewswire/ – Generative AI Solutions Corp. (“GenAI” or the “Company”) announces that Mr. Patrick Gray has been appointed Chief Executive Officer and a director of the Company, effective January 6, 2025.
Mr. Ryan Selby, the former CEO of the Company, has resigned as an officer and director concurrently with Mr. Gray’s appointment. The Company sincerely thanks Mr. Selby for his contributions and wishes him the greatest success in his further endeavors.
“Mr. Gray is the right leader to move the Company through the next stages of its growth, and I am pleased he is in a position to take over and continue to steer the Company through its next strategic phase,” said Mr. Selby.
Mr. Gray was the Chief Operating Officer of the Company from December 2023 until his appointment as CEO. Mr. Gray is the President and Founder of an IT service provider that specializes in software development, AI and Data Analytics, software implementation services, public sector automation platforms, and legal technology services. The company has extensive expertise in utilizing Artificial Intelligence (AI) and Machine Learning (ML) in expert services to enhance document and data management capabilities.
“I am looking forward to moving into the Chief Executive seat, taking advantage of market conditions to grow the Company’s business and using my industry knowledge and contacts to diversify the Company’s holdings and business lines to drive shareholder value” said Mr. Patrick Gray.
In connection with Mr. Selby’s resignation from the Company, the board of directors has agreed to convert to common shares of the Company (the “Accrual Shares“) $145,000 of accrued but unpaid fees owing to Mr. Selby in connection with his service as CEO (the “Accrual Payment“), and to further issue to Mr. Selby 4,000,000 common shares (the “Termination Shares“) as a term of his resignation in accordance with his management services agreement. The Accrual Shares and the Termination Shares will be issued at a deemed price of $0.09 per common share, and will be subject to a four month hold. Mr. Selby will not be entitled to receive any Accrual Shares unless and until he ceases to be an insider of the Company.
On Behalf of the Board of Directors,
Patrick Gray
CEO, Director, and Chairman of the Board of Directors
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