TORONTO, ON / ACCESSWIRE / June 16, 2023 / AI/ML Innovations Inc. (CSE – AIML); (OTCQB – AIMLF); (FWB – 42FB), a company committed to acquiring and advancing Artificial Intelligence/Machine Learning technologies that address urgent societal needs, …
TORONTO, ON / ACCESSWIRE / June 16, 2023 / AI/ML Innovations Inc. (CSE – AIML); (OTCQB – AIMLF); (FWB – 42FB), a company committed to acquiring and advancing Artificial
Intelligence/Machine Learning technologies that address urgent societal needs, is pleased to announce that it intends to complete a non-brokered private placement offering of up to 3,000,000 units
(“Units”) at a price of $0.11 per Unit for gross proceeds of up to $330,000 (the “Private Placement”). Each Unit is comprised of one Common Share and one Warrant which will be exercisable into one
(1) Common Share of the Company (each a “Warrant Share”). Each Warrant will have a term of two (2) years and will entitle the holder to purchase one (1) Warrant Share at a price of $0.20 per share
following the closing date. The Private Placement will follow the final closing of the previously announced $0.075 unit financing, as announced by the Company on June 6, 2023.
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.