Britain’s ‘Brain’ heralds new era of commerce enabled AI

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Key highlights

UK’s Rezolve Ai Champions New AI Era with Groundbreaking ‘Brain’
Introduces multilingual personal shoppers and intelligent assistants revolutionising commerce and retail interaction
Solidifies the UK’s Position as Global Leader in Artificial Intelligence

(Please Note on December 17, 2021, Rezolve announced that it had entered into a definitive business combination agreement with Armada Acquisition Corp. I (NASDAQ: AACI), a publicly traded special purpose acquisition company. Upon closing of the transaction, the combined company’s shares are expected to trade on the NASDAQ under the ticker symbol “RZLV”.)

July 25, 2023 6AM London, UK

London July 25, 2023 – Rezolve Ai Limited, the UK’s leading AI innovator, today announced the introduction of its transformative AI platform, ‘Brain’. This remarkable development promises to catalyse a new era of eCommerce interaction and data analysis, further boosting the UK’s reputation in the global AI arena.

Developed by the expert team at Rezolve led by Dr Salman Ahmad, ‘Brain’ is a product discovery engine that redefines eCommerce interactions. By harnessing proprietary sophisticated algorithms, advanced machine learning, and natural language processing, Brain behaves like a highly knowledgeable sales assistant, armed with unparalleled product information and insight.

With Brain, consumers can engage eCommerce sites conversationally, asking detailed queries and receiving responses that exhibit deep product understanding and relevance. These interactions can be carried out in any one of 95 different languages allowing instant interaction regardless of nationality and retail store. This approach to product discovery and customer interaction revolutionises the eCommerce landscape, offering a level of personalised service previously unseen.

Daniel M. Wagner, Chairman, CEO and founder of Rezolve, noted, “Brain is more than a product; it is a catalyst for a new era of business efficiency, empowering organisations to harness data and deliver superior customer experiences. Britain has always been at the forefront of developments in search and retrieval and from the early 90s I have been working with the very best minds from Cambridge University in shaping computer aided text and image retrieval. Brain is the culmination of decades of sophisticated British technical engineering and Brain today leads the world in Natural Language Processing and Large Language Models engineered for commerce.”

Michelle Donelan, Secretary of State for Science, Innovation, and Technology, added, “Rezolve’s Brain is yet another example of great British AI innovation. AI has the potential to transform our public services, create better jobs and grow our economy. Alongside our global leadership on AI safety, the Department of Science, Innovation and Technology is driving innovation throughout the UK, creating the environment for companies to start-up and grow.”

Saurabh Chandra, Managing Director of Boston Consulting Group’s Platinion, AI pioneer and an Ex Amazon and Flipkart veteran, commented “Rezolve’s conversational AI offering – Brain – is perfectly aligned with the changing trends in the retail industry and has the potential to be a game-changer. Not only is it enhancing the consumer experience & driving business growth, but it also delivers real time insights using Data & AI/ML (machine learning), at scale. Brain is at the vanguard of AI developments based on distributed computing, federated data architecture, effective AI/ML models and an open API interface providing a plug & play experience for B2C & B2B customers and their ecosystems.”

The introduction of Brain arrives as Rezolve Ai Limited is poised for a $2bn NASDAQ listing under the Ticker symbol RZLV, marking a milestone in the company’s journey and reinforcing the UK’s leadership in the global AI industry.

To learn more about Rezolve and Brain, please visit rezolve.com and https://rezolve.com/brain/

ENDS

Editors Notes: Brain is designed for businesses, consumers, and academic institutions to ingest and analyse their own proprietary content focussing on product catalogues but not restricted to them. For instance, academic institutions can upload dissertations, which Brain can then summarise and analyse, providing critical insights and understanding.

These adaptable Brain functions integrate seamlessly with existing systems across a wide array of industries, promoting a seamless transition into this innovative AI era. The functionalities of Brain can be tailored to suit specific needs, from enhancing customer service interactions to optimising returns management and refining after sales support.

On December 17, 2021, Rezolve Ai entered into a definitive Business Combination Agreement (as amended and restated on June 16, 2023, the “Business Combination Agreement”) with Armada, which is expected to close in the latter part of 2023, subject to approval by Armada’s shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions. Upon closing of the transaction, the combined company’s shares are expected to trade on the Nasdaq under the ticker symbol “RZLV”.

About Rezolve Ai Limited

Rezolve is taking retailing into a new era of customer engagement with a proprietary mobile engagement platform. The Rezolve Platform is a powerful set of mobile commerce and engagement capabilities that provide mobile application vendors with a range of valuable commercial opportunities that can be realized without having to develop code, host operations or manage security. The Rezolve Inside SDK allows mobile application vendors to quickly deliver innovation for their consumers into existing or new mobile apps. Rezolve was founded in 2016, is headquartered in London, UK and has offices including: Shanghai, New Delhi, Taipei, Frankfurt, Madrid, Mexico City and Providence, RI, USA. (rezolve.com)

About Armada Acquisition Corp. I

Armada Acquisition Corp. Is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Armada was founded on November 5, 2020 and is headquartered in Philadelphia, PA.

Important Information About the Proposed Transaction and Where to Find It

This press release relates to the proposed business combination involving Armada, Rezolve Limited, Rezolve and RezolveMerger Sub. In connection with the proposed business combination, on June 16, 2023, Rezolve filed with the SEC a Registration Statement on Form F-4 (File No. 333-272751), including a preliminary proxy statement of Armada and a preliminary prospectus of Rezolve relating to the securities to be issued in connection with the proposed business combination. The Registration Statement is subject to SEC review and further revision and is not yet effective. This press release is not a substitute for the Registration Statement, the definitive proxy statement/final prospectus, when available, or any other document that Rezolve or Armada has filed or will file with the SEC or send to its shareholders in connection with the proposed business combination. This press release does not contain all the information that should be considered concerning the proposed business combination and other matters and is not intended to form the basis for any investment decision or any other decision in respect of such matters.

Before making any voting or investment decision, Armada’s stockholders and other interested parties are urged to read the preliminary proxy statement/prospectus and the definitive proxy statement/prospectus, when it becomes available, and any amendments thereto and any other documents filed by Armada or Rezolve with the SEC in connection with the proposed business combination or incorporated by reference therein in their entirety before making any voting or investment decision with respect to the proposed business combination because they contain important information about the proposed business combination and the parties to the proposed business combination.

After the Registration Statement is declared effective, the definitive proxy statement will be mailed to stockholders of Armada as of a record date to be established for voting on the proposed business combination. Additionally, Armada and Rezolve will file other relevant materials with the SEC in connection with the proposed business combination. Copies of the Registration Statement, the definitive proxy statement/prospectus and all other relevant materials for the proposed business combination filed or that will be filed with the SEC may be obtained, when available, free of charge at the SEC’s website at www.sec.gov. In addition, Armada’s stockholders may also obtain copies of the definitive proxy statement/prospectus, when available, and other documents filed by Armada with the SEC, without charge, by directing a request to Armada Acquisition Corp. I, 1760 Market Street, Suite 602, Philadelphia, PA 19103 USA; (215) 543-6886.

No Offer or Solicitation

This press release is for informational purposes only and does not constitute an offer or a solicitation of an offer to buy or sell securities, assets or the business described herein or a commitment to Armada, Rezolve Limited or Rezolve, nor is it a solicitation of any vote, consent or approval in any jurisdiction pursuant to or in connection with the proposed business combination or otherwise, nor shall there be any offer, sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.

Participants in Solicitation

Armada, Rezolve Limited, Rezolve, Rezolve Merger Sub and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies of Armada’s stockholders in connection with the proposed business combination. Information about the directors and executive officers of Armada may be obtained in the Registration Statement, Armada’s filings with the SEC, including Armada’s initial public offering prospectus, which was filed with the SEC on August 16, 2021, and Armada’s subsequent annual report on Form 10-K and quarterly reports on Form 10-Q, all of which is available free of charge at the SEC’s website at www.sec.gov. Information about the directors and executive officers of Rezolve and more detailed information regarding the identity of all potential participants, and their direct and indirect interests by security holdings or otherwise, will be set forth in the definitive proxy statement/prospectus for the proposed business combination when available. Additional information regarding the identity of all potential participants in the solicitation of proxies to Armada’s stockholders in connection with the proposed business combination and other matters to be voted upon at the special meeting, and their direct and indirect interests, by security holdings or otherwise, will be included in the definitive proxy statement/prospectus, when it becomes available.

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Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act and Section 21E of the Exchange Act. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding the proposed business combination and related transactions, including, without limitation, the pre-closing demerger. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed business combination; (2) the outcome of any legal proceedings that may be instituted against Armada, RezolveLimited, Rezolve or others following the announcement of the proposed business combination and any definitive agreements with respect thereto; (3) the inability to complete the proposed business combination due to the failure to obtain approval of the stockholders of Armada or shareholders of Rezolve Limited or Rezolve, to receive regulatory approvals or to satisfy other conditions to closing of the transactions contemplated under and in connection with the Business Combination Agreement, including, without limitation, with respect to the pre-closing demerger; (4) the ability to meet stock exchange listing standards following the consummation of proposed business combination; (5) the risk that the proposed business combination disrupts current plans and operations of Armada, RezolveLimited or Rezolve as a result of the announcement and consummation of the proposed business combination; (6) the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, and retain its management and key employees; (7) costs related to the proposed business combination; (8) changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in, or the inability to obtain regulatory approvals required to complete the proposed business combination; (9) weakness in the economy, market trends, uncertainty and other conditions in the markets in which Rezolve Limited or Rezolve operate, and other factors beyond their control, such as inflation or rising interest rates; (10) the possibility that Armada, Rezolve Limited, Rezolve or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the ability of existing investors to redeem and the level of redemptions; and (12) additional risks, including those to be included under the header “Risk Factors” in the Registration Statement and those included under the header “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Armada’s Annual Report on Form 10-K for the year ended September 30, 2022 and the Quarterly Reports on Form 10-Q filed by Armada for the quarterly periods ended December 31, 2022 and March 31, 2023. If any of these risks materialize or Armada’s, RezolveLimited’s or Rezolve’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that none of Armada, Rezolve Limited or Rezolve presently know or that Armada, Rezolve Limited and Rezolve currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Armada’s, Rezolve Limited’s and/or Rezolve’s expectations, plans or forecasts of future events and views as of the date of this press release. Armada, Rezolve Limited and Rezolve anticipate that subsequent events and developments will cause Armada, Rezolve Limited’s and Rezolve’s assessments to change. However, while Armada, Rezolve Limited and Rezolve may elect to update these forward-looking statements at some point in the future, each of Armada, Rezolve Limited, Rezolve and Rezolve Merger Sub specifically disclaim any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Armada’s, Rezolve Limited’s and Rezolve’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

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