VANCOUVER, British Columbia, March 14, 2024 (GLOBE NEWSWIRE) -- AlphaGen Intelligence Corp. ("AlphaGen" or the "Company") (CSE: AIC | OTC: APETF | FSE: W4V), a leader in AI technology for 3D content, gaming, entertainment, and retail, today proudly announces its strategic partnership with the renowned game development and visual effects company, XCAVE Studios Inc ("XCAVE"). This collaboration plans to create unparalleled branded experiences within the Fortnite universe, targeting Fortune 500 clients and leveraging the massive market opportunity presented by new sponsorship, content creation and commerce opportunities inside gaming ecosystems.

XCAVE Studios, with its headquarters in Toronto, Canada, and expansions into Europe and South America, brings a wealth of expertise in immersive experiences across advertising, games, and entertainment, powered by cutting-edge real-time and generative AI technologies.

This announcement comes on the heels of The Walt Disney Company's groundbreaking investment of $1.5 billion in Epic Games. This investment is not just a testament to the burgeoning potential of digital experiences but also paves the way for an innovative games and entertainment universe that will magnify the enchantment of Disney's stories and experiences.

A New Era of Digital Engagement

Fortnite represents a frontier for digital engagement, boasting over 400 million registered players, with a majority within the 18-34 age bracket, highlighting the platform's vast, diverse, and actively engaged audience. The platform's infrastructure is built to scale, capable of supporting massive events such as the Travis Scott concert, which saw participation from 12.3 million players. Fortnite's built-in commerce system and avatar customization options present new avenues for revenue and deeper brand engagement, offering an attractive proposition for AlphaGen and XCAVE Studios' Fortune 500 clientele.

The Strategic Advantage

The partnership between AlphaGen and XCAVE Studios is poised to harness the following strategic advantages within Fortnite:

• Broad Audience Reach: Engage with a young, global audience, with high engagement metrics, including 250 million monthly active players.
  
• Scalability and Reliability: Leverage an infrastructure designed for large-scale events, ensuring seamless experiences for vast numbers of concurrent participants.
  
• Built-in Commerce: Utilize Fortnite's in-game commerce system for direct monetization through virtual goods or experiences, with a generous revenue share model.
  
• Customization and Engagement: Enhance brand engagement through Fortnite's extensive customization options, including branded outfits and cosmetics.
  
• Streamlined Publishing and Viral Marketing: Benefit from Fortnite's streamlined publishing process and its social features to maximize content sharing and user attraction.
  

A Vision for the Future

"Our partnership with XCAVE Studios represents a significant milestone in our journey to redefine the landscape of branded digital experiences," said Jonathan Anastas, Chairman of the Board of AlphaGen Intelligence Corp. "By establishing a branded experience leadership position inside Fortnite's dynamic and expansive platform, we are setting the stage for our clients to connect with their audiences in the most interactive, engaging ways possible. This initiative is a leap forward in our mission to merge technology, creativity, and commerce in unprecedented ways."

"Based on our understanding of Fortnite's product roadmap, we believe it is going to become the de facto Metaverse infrastructure for all branded experiences. There is no other platform that offers the same caliber of scalability and reliability," said Rod Hurtado, Executive Producer at XCAVE Studios Inc. "AlphaGen has a proven track record of attracting Fortune 500 clients. We look forward to working with AlphaGen to shape this exciting and playful future."

Contact:

Investor Relations: info@alphagen.co - 604 359 1256
Media and Public Relations: info@alphagen.co

On Behalf of The Board of Directors

Jonathan Anastas
Chairman of the Board

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events. This press release contains forward-looking information relating to, among other things, the proposed Consolidation, including the proposed consolidation ratio, the anticipated effective date of the Consolidation and the anticipated effect of the Consolidation on trading in the Common Shares.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, the assumption that the Canadian Securities Exchange will not object to the proposed Consolidation and that the Consolidation will be completed as currently anticipated and, on the timeline, currently anticipated.

Although forward-looking information is based on the reasonable assumptions of the Company's management, there can be no assurance that any forward-looking information will prove to be accurate. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, that the Canadian Securities Exchange may object to the proposed Consolidation and use its discretion to prohibit the proposed Consolidation; that the Consolidation may not be completed by the Company on the timeline anticipated, or at all; and that the board of directors of the Company retains discretion over the terms and implementation of the Consolidation. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.