AI/ML Innovations Inc. Announces Closing of Financing Page 1

VICTORIA, BC / ACCESSWIRE / August 19, 2024 / AI/ML Innovations Inc. (“AI/ML” or the “Company”) (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) is pleased to announce that it has completed its previously announced non-brokered private placement (the “Financing”) on August 19, 2024. The Company accepted subscriptions of 7,845,000 Units at a price of $0.05 per Unit, for gross proceeds of $392,250. The Company paid finders’ fees to qualified finders of $18,200 and issued 364,000 broker warrants, which have the same terms as the warrants included in the Units.

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 have been trading at $0.25 for a period of at least 20 consecutive trading days.