Alset Capital Inc. is a publicly traded company: TSXV:KSUM | OTC:ALSCF | FSE:1R60, WKN:A3ESVQ

Alset Capital Inc. Announces Effective Date Of Share Consolidation

August 14, 2023 – Vancouver, Canada – ALSET CAPITAL INC. (TSX-V:KSUM.H) (“ALSET” or the “Company”) announces that further to the Company’s news release dated August 8, 2023, the Company will implement the previously announced consolidation of its common shares in the capital of the Company (“Shares”) on the basis of two (2) pre-consolidation Shares for every one (1) post-consolidation Share (the “Consolidation”) effective as of August 17, 2023.

The name of the Company and trading symbol will remain the same after the Consolidation. The new CUSIP number will be 02115L200 and the new ISIN number will be CA02115L2003 for the post Consolidation Shares.

The Company’s post-Consolidation Shares are expected to begin trading on the NEX board of the TSX Venture Exchange (the “TSX-V”) on or about August 17, 2023. The total issued and outstanding number of Shares post-Consolidation will be approximately 13,155,925, subject to rounding for fractional Shares.

No fractional Shares will be issued in connection with the Consolidation. In the event a holder of Shares would otherwise be entitled to receive a fractional Share in connection with the Consolidation, the number of Shares to be received by such shareholder will be rounded down to the next whole number if that fractional Share is less than one-half (1/2) of a Share, and will be rounded up to the next whole number if that fractional Share is equal to or greater than one-half (1/2) of a Share.

Registered shareholders that hold physical Share certificates will receive a letter of transmittal requesting that they forward pre-Consolidation Share certificates to the Company’s transfer agent, Endeavor Trust Corporation for exchange for new Share certificates representing Shares on a post-Consolidation basis. Shareholders who hold their Shares through a broker or other intermediary and do not have Shares registered in their own name will not be required to complete a letter of transmittal.

On behalf of ALSET CAPITAL INC.,

Morgan Good, Chief Executive Officer

For further information, please contact: Morgan Good
t: 604.715.4751

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statements: Certain statements in this press release are “forward-looking statements” which reflect the Company’s current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. In some cases, these forward-looking statements can be identified by words or phrases such as “may”, “might”, “will”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “indicate”, “seek”, “believe”, “estimates”, “predicts” or “likely”, or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including without limitation, those risks and uncertainties discussed elsewhere on the website at and in the Company’s filings on SEDAR+. Investors should not place undue reliance on forward-looking information. The forward-looking information contained herein 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.