AI/ML Innovations Inc. announced that it expects to receive CAD 1.0512 million in funding
On same date, the company has received 4,016,000 units at an issue price of CAD 0.075 per unit for the gross proceeds of CAD 301,200 in its first tranche. The company paid finders fees in relation to the first tranche to a qualified finder of CAD 3,750 and issued 67,500 broker warrants, which are on the same terms as the warrants forming part of the units. The securities issued as a result of the closing of this tranche will be subject to a statutory hold period until October 9, 2023. The company expects to complete the second tranche of CAD 750,000 in the coming weeks.