AI/ML Innovations Inc. Completes Initial Tranche of Private Placement

AI/ML Innovations Inc. has successfully closed the first tranche of its non-brokered private placement, raising $819,250. The Toronto-based company issued 16,385,000 units at $0.05 per unit. Each unit comprises one common share and one purchase warrant, the latter exercisable at $0.15 for 60 months.

In the Offering, AI/ML Innovations also distributed 936,950 broker warrants to eligible finders. Each broker warrant allows the holder to purchase one common share at an exercise price of $0.15 over five years. All securities are subject to a hold period until December 27, 2026.

The Offering was not available for U.S. investors, complying with U.S. securities regulations. The private placement aligns with AI/ML Innovations' continued strategic initiatives and capital raising efforts, aiming to leverage its technology for digital health transformations.