Heng Fai Ambrose Chan - Jul 15, 2024 Form 4 Insider Report for Value Exchange International, Inc. (VEII)

Role
Director, 10%+ Owner
Signature
/s/ Heng Fai Ambrose Chan
Stock symbol
VEII
Transactions as of
Jul 15, 2024
Transactions value $
$110,000
Form type
4
Date filed
7/17/2024, 04:15 PM
Previous filing
Jun 28, 2024
Next filing
Aug 20, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction VEII Convertible Debt Purchase $110K $110K Jul 15, 2024 Common Stock $0.06 See footnote F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Please refer to Remarks, below.
F2 Held by Hapi Metaverse Inc. The majority stockholder of Hapi Metaverse Inc. is Alset Inc. Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. The Reporting Person has dispositive control over these securities.

Remarks:

Value Exchange International, Inc. ("VEII") entered into a Convertible Credit Agreement, dated as of July 15, 2024 (the "Credit Agreement") with Hapi Metaverse Inc. On July 15, 2024, Hapi Metaverse Inc. loaned VEII $110,000. This amount can be converted into shares of VEII pursuant to the terms of the Credit Agreement for a period of three years. In the event that Hapi Metaverse Inc. converts this loan into shares of VEII Common Stock, the conversion price shall be $0.06 per share.