AI/ML Innovations Inc. Announces Debt Settlement with ThreeD Capital Inc.

VICTORIA, BC / ACCESSWIRE / August 15, 2024 / AI/ML Innovations Inc. (“AI/ML” or the “Company”) (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) announced that it has entered into a Debt Settlement and Security Agreement with ThreeD Capital Inc. (the “Billing Agent”) of Toronto, Ontario for payment of indebtedness to the Billing Agent in the aggregate amount of $47,460 in respect of services rendered by the Billing Agent (the “Debt Transaction Shares”). The Billing Agent has agreed to the conversion of such indebtedness into common shares of the Company (the “Common Shares”). Pursuant to the Debt Transaction Shares, the Company will issue an aggregate of 949,200 Common Shares to the Billing Agent, at a deemed price of $0.05 per Common Share. The proposed Debt Transaction Shares is subject to the approval of the Canadian Securities Exchange.

The issued ordinary shares are subject to a holding period of four months.