Predictiv AI Announces Private Placement Financing & Proposed Shares for Debt Transaction

TORONTO, ON / ACCESSWIRE / March 19, 2024 / Predictiv AI Inc. (TSXV:PAI)(OTC PINK:INOTF)(FSE:71TA) ("Predictiv AI" or the "Company"), www.predictiv.ai, announces a non-brokered private placement of up to 12,500,000 units (the "Units") at $0.02 per Unit for gross proceeds of up to $250,000 (the "Offering"). Each Unit is comprised of one common share of Predictiv AI ("Share") and one share purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one additional Share of the Company at an exercise price of $0.05 per Share for a period of 24 months from the date of issuance. If the volume weighted average price of the Shares on the TSXV NEX is equal to or greater than $0.10 for any 10 consecutive trading days, four months and a day after the closing of the Offering, Predictiv AI may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice.

In addition, Predictiv AI has entered into debt settlement agreements (the "Debt Settlement Agreements") with certain officers, directors and consultants of the Company (the "Parties"). Predictiv AI has agreed to convert an aggregate of $500,000 in payables (the "Payables") owed to the Parties related to services rendered to the Company, into Predictiv AI common shares (the "Settlement Shares"). The Company is proposing to issue Settlement Shares in order to preserve working capital to fund operations. Predictiv AI has agreed under the terms of the Debt Settlement Agreements, to issue an aggregate of 25,000,000 Settlement Shares at a deemed issuance price of $0.02 per Settlement Share in satisfaction of the Payables owing to the Parties.

The Settlement Shares will be issued in reliance on certain prospectus exemptions available under Canadian securities legislation and will be subject to a four month and one day hold period from the date of issuance.

9,322,320 Settlement Shares are being issued to insiders of the Company (the "Insiders"). Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the settlement of the Payables will constitute a "related party transaction" as the Insiders are considered to be related parties to Predictiv AI. The Company will rely on exemptions from the formal valuation and minority approval requirements of MI 61-101 (pursuant to subsections 5.5(a) and 5.7(a)) as the fair market value of the securities to be distributed to, and the consideration received from the Insiders will not exceed 25% of the Predictiv AI's market capitalization. The settlement of the Payables has been approved by all of the directors of the Company.

Conversion of the Payables and issuance of the Settlement Shares is subject to the acceptance of the TSX Venture Exchange NEX ("TSXV"). There is no guarantee that such conditions precedent will be satisfied or that any of the transactions will be completed as described herein or at all.

Facebook: https://www.facebook.com/PredictivAI/
Twitter: https://twitter.com/predictivai

LinkedIn: https://www.linkedin.com/company/predictivai/

Company Contact:

Khurram Qureshi
Mobile: 647.831.1462
Email: kqureshi@predictiv.ai

About Predictiv AI Inc.

Predictiv AI Inc. www.predictiv.ai is a technology company which helps businesses and organizations make smarter decisions using advanced artificial intelligence, deep machine learning and data science techniques. Its Weather Telematics Inc. subsidiary uses patented air quality monitoring sensors to provide predictive weather risk information to the insurance, logistics, fleet management and public safety sectors. The Company's R&D division, AI Labs Inc., develops new products that solve real-world business problems. Due to financial constraints, Predictiv AI's operations have been put on hold.

Cautionary and Forward-Looking Statements

Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to other factors referenced in the Company's other continuous disclosure filings, which are available at sedarplus.ca. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

SOURCE: Predictiv AI, Inc.