AI/ML Innovations Inc. Announces Closing of Private Placement

TORONTO, ON / ACCESSWIRE / December 7, 2023 / AI/ML Innovations Inc. ("AI/ML" or the "Company") (CSE:AIML);(OTCQB:AIMLF);(FWB:42FB) is pleased to announce that it intends to close a non-brokered private placement on December 14th, 2023. The Company accepted subscriptions for 11,576,666 units at a price of $0.06 per unit for gross proceeds of $694,599.94 (the "Financing")

Pursuant to the terms of the Financing, each unit consists of one common share and one common share warrant. Each warrant will have a term of two (2) years and will entitle the holder to purchase one (1) common share at a price of $0.12 per share subject to the Company's right to accelerate expiry upon 30 days' notice if the shares trade at $0.30 or greater for a period of at least 20 consecutive trading days.

The common shares and warrants comprising the units will be subject to a four-month and one day hold period in accordance with the policies of the CSE and applicable securities legislation.

The Company paid finder's fees to qualified finders in the amount of $38,700.

The Company intends to use net proceeds of the Financing for working capital requirements.

For more information about AI/ML Innovations:

For detailed information please see AI/ML's website or the Company's filed documents at www.sedar.com.

For further information, contact: Blake Fallis at (778) 405-0882 or info@aiml-innovations.com.

About AI/ML Innovations Inc. https://aiml-innovations.com/

AI/ML Innovations Inc. has realigned its business operations to capitalize on the burgeoning fields of artificial intelligence (AI) and machine learning (ML), with an initial investment focus on emerging digital health and wellbeing companies that leverage AI, ML, cloud computing and digital platforms to drive transformative healthcare management solutions and precision support delivery across the health continuum. Through strategic partnerships with Health Gauge (70% owned by AIML), Tech2Heal (22% ownership commitment by AIML), AI Rx Inc. (70% owned by AIML) and other planned accretive investments, the Company continues to capitalize on expanding growth areas, to the benefit of all the Company's stakeholders. AI/ML's shares are traded on the Canadian Securities Exchange under the symbol "AIML", the OTCQB Venture Market under "AIMLF", and the Frankfurt Stock Exchange under "42FB".

On behalf of the Board of Directors
Tim Daniels, Executive Chairman

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: AI/ML Innovations Inc.