AI/ML Innovations Announces Proposed Private Placement

AI/ML Innovations Inc. has announced its intention to complete a non-brokered private placement offering. The company plans to offer up to 31,000,000 units at a price of $0.05 per unit, targeting gross proceeds of $1,550,000. Each unit comprises one common share and one warrant, allowing the purchase of an additional share at $0.15 within a five-year term post-closing. A mandatory hold period of four months and a day applies to these securities under Canadian regulations.

The net proceeds from the private placement are earmarked for working capital. A finder's fee will be paid to those assisting in the sale, either in cash, securities, or a combination, as allowed by regulations. Completion of the placement is contingent upon receiving necessary approvals, notably from the Canadian Securities Exchange.