AI/ML Innovations Inc. to Launch Private Placement of Up to $1.3 Million

AI/ML Innovations Inc. has announced plans for a non-brokered private placement. The offering includes up to 20 million units at $0.065 each, aiming to raise $1.3 million in gross proceeds. Each unit consists of one common share and one warrant, with the warrants exercisable into common shares at $0.15 per share over two years. AI/ML retains the right to accelerate the warrants' expiry with 30 days' notice if certain market conditions are met.

The common shares and warrants will undergo a mandatory hold period of four months and one day, in line with CSE policies and applicable legislation. The net proceeds are intended for working capital needs. Qualifying finders will receive fees in cash, securities, or a combination, where permissible by law. Closing is contingent on regulatory approvals.