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

Alset Capital Inc. Announces Updated Investment Policy And Investment Into Cedarcross International

August 4, 2023 – Vancouver, Canada – ALSET CAPITAL INC. (TSX-V:KSUM.H) (“ALSET” or the “Company”) is pleased to announce that it has updated its investment policy to contemplate investments across a wide range of diverse industries, including technology, healthcare, industrial and manufacturing. The updated investment policy allows for investments in the form of debt, equity or equity linked securities. Alset is classified as an investment issuer and intends to restructure its share capital, outstanding debt, payables and develop its investment business with a view of reactivating on the TSX Venture Exchange.

In respect of the forgoing, Alset has acquired common shares (“Investment”) equal to a 49% ownership stake in Cedarcross International Technologies Inc. (“Cedarcross”). This investment was completed by way of share subscription for total consideration of $210,000. Cedarcross will be the operator of certain revenue generating computing equipment. The Company’s investment allows for relatively low-cost access to computing hardware.

The Investment represents the first investment by Alset since the transfer to the NEX.

On behalf of ALSET CAPITAL INC.,

Morgan Good, Chief Executive Officer

For further information, please contact: Morgan Good
t: 6047154751

Neither the 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 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 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.