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GoGo AI Network Inc. and Algo8 AI Inc. Announce Closing of Arrangement, CSE Conditional Approval and Filing of Listing Statement
Vancouver, British Columbia – TheNewswire - October 6, 2026 – GoGo AI Network Inc. ("GoGo" or the "Company") (CSE: GOGO) (OTC: GOGAF) (FSE: 4E9) and Algo8 AI Inc. (the “Resulting Issuer”) are pleased to announce closing of the previously announced plan of arrangement (the “Arrangement”) pursuant to which GoGo spun out its investment in Algo8 Industrial AI Inc. (“Algo8”) into the Resulting Issuer (formerly 1589675 B.C. Ltd.) and the Resulting Issuer completed a concurrent acquisition of the remaining interests in Algo8. In addition, the Resulting Issuer has received conditional approval to list its common shares (“Resulting Issuer Shares”) on the Canadian Securities Exchange (the “CSE”).
The Resulting Issuer has filed a listing statement in the form of CSE Form 2A dated effective September 30, 2026 (the “Listing Statement”) on its SEDAR+ profile at www.sedarplus.ca. The Resulting Issuer is diligently finalizing the remaining regulatory and procedural steps required for final CSE approval.
Following completion of the Arrangement, the Resulting Issuer’s principal business is the business of Algo8. Further details regarding the Resulting Issuer are included in the Listing Statement.
Under the terms of the Arrangement, GoGo shareholders as of 12:01 a.m. on October 6, 2026 received 0.25 of a Resulting Issuer Share for each GoGo common share held and retained their existing GoGo shares in full. Immediately following the issuance of Resulting Issuer Shares to GoGo shareholders, each Algo8 shareholder exchanged with the Resulting Issuer their Algo8 common shares for Resulting Issuer Shares on a one-for-one basis.
Further, each outstanding Algo8 option automatically became fully vested and exercisable into Resulting Issuer Share in lieu of Algo8 shares on a one-for-one basis. Each outstanding Algo8 RSU will continue in accordance with its original terms, with holders entitled to receive Resulting Issuer Shares in lieu of Algo8 shares on a one-for-one basis. Each holder of an outstanding Algo8 warrant will, upon subsequent exercise thereof, receive Resulting Issuer Shares in lieu of Algo8 shares on a one-for-one basis.
The Resulting Issuer Shares issued to former Algo8 shareholders are subject to certain contractual restrictions on transfer, with release schedules varying depending on whether the Algo8 Shares exchanged were originally issued as founder shares or non-founder shares. In addition, holders of outstanding Algo8 Options and Algo8 RSUs have agreed to voluntary lock-up provisions restricting the transfer of certain securities for periods of up to 12 months following the initial trading date. In accordance with the policies of the CSE, Resulting Issuer securities held by “Related Persons” (as defined in the policies of the CSE) are subject to an escrow agreement, a copy of which will be available on the Resulting Issuer’s SEDAR+ profile at www.sedarplus.ca. Further details are included in the Listing Statement.
Following completion of the Arrangement, GoGo shareholders hold an aggregate of approximately 33.1% of the issued and outstanding Resulting Issuer Shares and former Algo8 shareholders hold an aggregate of approximately 62.4% of the issued and outstanding Resulting Issuer Shares.
The board of directors of the Resulting Issuer is comprised of Brandon Kou, Nandan Mishra, Himanshu Singh, Douglas Steinberg and Nicholas Mersch.
On closing of the Arrangement, the Resulting Issuer issued an aggregate of 3,883,402 Resulting Issuer Shares as finders’ fees to arm’s length parties.
U.S. Securities Law Matters
The Resulting Issuer Shares to be issued pursuant to the Arrangement have not been and will not be registered under the United States Securities Act of 1933, as amended, and will be issued in reliance upon the exemption from registration provided by Section 3(a)(10) thereof.
GoGo AI Network Inc. is an investment issuer focused on identifying, investing in, and supporting early-stage and growth-stage companies developing artificial intelligence, automation, and next-generation software technologies. The Company targets opportunities across multiple sectors and geographies and seeks to create long-term shareholder value through disciplined capital allocation, active portfolio support, and the strategic monetization of its investments over time. For more information, visit www.gogonetwork.ai.
Algo8 is a global deep-tech pioneer in industrial AI, leveraging advanced machine learning, computer vision, and Generative AI to drive transformational impact across industries. With a multidisciplinary team of AI specialists, Algo8 is committed to building scalable, explainable, and responsible AI solutions that power the future of manufacturing, energy, and logistics.
With over 50+ successful deployments worldwide, Algo8 has consistently delivered breakthrough AI innovations that enhance efficiency, boost profitability, and accelerate digital transformation.
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On behalf of the Board of Directors of GoGo AI Network Inc.
GoGo AI Network Inc.
Phone: 604-602-0001
On behalf of the Board of Directors of Algo8 AI Inc.
Algo8 AI Inc.
Phone: 416-827-8761
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including, without limitation, the receipt of final CSE approval and the listing of the Resulting Issuer Shares on the CSE are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should" or "would" or occur.
Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including, among other things, that the CSE will provide final acceptance for the listing of the Resulting Issuer Shares. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary, include, without limitation, that the CSE will not accept the listing of the Resulting Issuer Shares, general economic, market and business conditions and the risks disclosed in the Listing Statement.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
