On July 12, 2023, AI/ML Innovations Inc. closed the transaction. The company has issued 3,114,087 units at an issue price of CAD 0.11 per unit, for gross proceeds of CAD 342,549.57 in the oversubscribed transaction. An insider of the company subscribed for an aggregate of 1,160,000 units of the company.

The company paid finders fees in relation to the placement to three qualified finders of CAD 2,970 and issued 27,000 broker warrants, which are on the same terms as the warrants forming part of the units.