AI/ML Innovations Inc. announced a non-brokered private placement and it will issue 3,314,087 units at an issue price of CAD 0.11 per unit for the gross proceeds of CAD 364,549.57 on July 7, 2023. Each unit consists of one common share and one common share purchase warrant. Each Warrant will be exercisable into one common share.

Each Warrant will have a term of two years and will entitle the holder to purchase one warrant share at a price of CAD 0.2. Securities issued as a result of the closing of this placement will be subject to a statutory hold period of four months and one day from the date of closing. The transaction is expected to close on July 12, 2023.