Mining & Metals
GoGo AI Unveils Plan to Spin Out Algo8 Into Public Company
GoGo AI Network (GOGO.CN) said Monday it entered into an arrangement agreement to spin out its investment in Algo8 Industrial AI into a separately listed company.Under the plan, AI-focused investment issuer GoGo will spin out its Algo8 stake into Spin Co, with the latter ultimately becoming Algo8 Industrial AI. The resulting entity will be listed on the Canadian Securities Exchange.Subject to certain conditions, the arrangement is expected to complete in the third quarter.GoGo shareholders are expected to own about 30% of the resulting Algo8 Industrial AI company, which is expected to launch with about C$5 million in cash.Price: $0.19, Change: $+0.04, Percent Change: +23.33%
$GOGO.CN
