AI/ML Innovations Inc. Announces Closing of Financing

Victoria, BC / ACCESSWIRE / July 17, 2024 / AI/ML Innovations Inc. ("AI/ML" or the "Company") has completed its non-brokered private placement announced earlier on July 17, 2024. The Company closed this final tranche with the issuance of 10,230,000 units at $0.05 per unit, raising gross proceeds of $511,500.

The Company paid finders fees worth $26,477.60 and issued 529,550 broker warrants. Each Unit includes one Common Share and one Warrant. Each Warrant allows the purchase of a Common Share at $0.10 per share within three years, subject to an accelerated expiry if the shares trade at $0.25 for 30 consecutive days.

In total, AI/ML Innovations Inc. raised $971,500 through the non-brokered private placement, issuing 19,430,000 Units and 946,550 broker warrants. Securities issued are subject to a statutory hold period until November 18, 2024. Net proceeds will be used for working capital requirements.