AI/ML Innovations Inc. announced a a non-brokered private placement to issue 3,000,000 units at a price of CAD 0.11 per Unit for gross proceeds of up to CAD 330,000 on June 16, 2023. Each Unit is comprised of one Common Share and one Warrant which will be exercisable into one Common Share of the Company. Each Warrant will have a term of two years and will entitle the holder to purchase one Warrant Share at a price of CAD 0.20 per share following the closing date. 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. The Company will pay a finder's fee to qualified finders who assist in selling the Units, in cash or securities or a combination of both, as permitted by CSE policy and applicable securities laws. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including approval from the Canadian Securities Exchange. The Private Placement will follow the final closing of the previously announced
CAD 0.075 unit financing.