AI/ML Innovations Inc. Announces Proposed Private Placement

VICTORIA, BC / ACCESSWIRE / August 9, 2024 / AI/ML Innovations Inc. (“AI/ML” or the “Company”) (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) is pleased to announce that it intends to complete a non-brokered private placement offering of up to 6,000,000 units (“Units”) at a price of $0.05 per Unit for gross proceeds of up to $300,000 (the “Private Placement”). Each Unit consists of one Common Share and one Warrant exercisable into one (1) Common Share of the Company (each, a “Warrant Share”). Each Warrant has a term of two (2) years and entitles the holder to purchase one (1) Warrant Share at a price of $0.10 per share after the closing date, subject to the Company’s right to accelerate the expiration date upon 30 days’ notice if the shares trade at $0.25 for a period of 20 days.

The Ordinary Shares and Warrants comprising the Units are subject to a waiting period of four months and one day in accordance with the policies of the CSE and applicable securities laws.