AI/ML Innovations Inc. Announces First Closing of Financing
Summary
AI/ML Innovations Inc. ("AI/ML" or the "Company") (CSE - AIML; OTCQB - AIMLF; FWB - 42FB) is pleased to announce that that it has completed a first closing of its previously announced non-brokered private placement offering of up to $850,000. Each Warrant will have a term of three (3) years and will entitle the holder to purchase one (1) Warrant Share at a price of $0.10 per share following the closing date, subject to the Companys right to accelerate expiry upon 30 days notice if the shares trade at $0.25 for a 10 day period. Securities issued on this closing are subject to a statutory hold period until November 2, 2024.The Company paid finders fees on this first tranche to qualified finders of $29,850 and issued 417,000 broker warrants, which are on the same terms as the warrants forming part of the Units.The Company intends to use net proceeds of the Private Placement for working capital requirements.For more information about AI/ML Innovations:For detailed information please see AI/MLs website or the Companys filed documents at www.sedar.com.For further information, contact: Blake Fallis at (778) 405-0882 or info@aiml-innovations.com.AI/ML Innovations Inc. has realigned its business operations to capitalize on the burgeoning fields of artificial intelligence (AI) and machine learning (ML), with an initial investment focus on emerging digital health and wellbeing companies that leverage AI, ML, cloud computing and digital platforms to drive transformative healthcare management solutions and precision support delivery across the health continuum. Through strategic partnerships with Health Gauge (70% owned by AIML), Tech2Heal (22% ownership commitment by AIML), AI Rx Inc. (70% owned by AIML) and other planned accretive investments, the Company continues to capitalize on expanding growth areas, to the benefit of all the Companys stakeholders. AI/MLs shares are traded on the Canadian Securities Exchange under the symbol "AIML", the OTCQB Venture Market under "AIMLF", and the Frankfurt Stock Exchange under "42FB".On behalf of the Board of Directors Tim Daniels, Executive ChairmanTHIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.