AI/ML Innovations Inc. Announces Proposed Private Placement

VICTORIA, BC / ACCESSWIRE / June 21, 2024 - AI/ML Innovations Inc. ("AI/ML" or the "Company") (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) has announced its intention to complete a non-brokered private placement offering. The offering will consist of up to 16,500,000 units at $0.05 per unit, totaling up to $850,000 in gross proceeds.

Each unit includes one common share and one warrant, which is exercisable into one common share at $0.10 per share within three years. These warrants have an accelerated expiry clause, triggered if the shares trade at $0.25 for a ten-day period.

The securities will be subjected to a four months and one day hold period as per CSE policies and applicable regulations. The primary use of the net proceeds is to fulfill the company's working capital requirements.

A finder's fee will be paid in cash, securities, or a combination of both, as per CSE policy. The private placement is contingent upon obtaining all necessary approvals, including the Canadian Securities Exchange.