AI/ML Innovations Inc. Announces First Closing of Financing

AI/ML Innovations Inc. ("AI/ML" or the "Company") has completed the first closing of its non-brokered private placement offering. The Company accepted subscriptions for 9,200,000 units at $0.05 per unit, generating gross proceeds of $460,000. Each unit includes one Common Share and one Warrant, which allows the purchase of an additional Common Share at $0.10 per share for three years. The Company can accelerate the expiry if shares trade at $0.25 for a 10-day period.

Finders fees of $29,850 were paid, and 417,000 broker warrants were issued, under the same terms as the unit warrants. The net proceeds will be used for working capital requirements.