AI/ML Innovations Inc. (TSXV:AIML) entered into a share purchase agreement to acquire a 70% stake in Salu Design Group Inc. on August 16, 2020. Pursuant to the agreement, AIML, subject to the terms and conditions, has agreed to purchase 19.25 million common shares of Salu (approximately 70% of the issued and outstanding common shares of Salu) in exchange for the issuance of 3 million common shares of AIML and 7 million share purchase warrants of AIML, which is subject to Salu achieving specific revenue targets over a specified period of time, as such; 2 million common shares upon Health Gauge generating aggregate sales revenue within any six consecutive month period of CAD 0.6 million, within 2 years of December 15, 2020, and 5 million common shares upon Health Gauge generating aggregate sales revenue within any six consecutive month period of CAD 1.2 million, within 3 years of December 15, 2020. In addition, AIML has the option to acquire the remaining 30% equity interest of Salu in exchange for common shares of AIML and additional performance warrants, which will be determined at the time AIML exercises the option to purchase. If AIML terminates the agreement prior to completion, AIML shall pay Salu a cancellation fee of CAD 0.1 million. The agreement is subject to specific conditions prior to cIosing, including but not limited to approval from TSX-V, audited financial statements of Salu to be presented to the AIML for review, and the commitment from AIML to have a minimum of CAD 0.42 million of capital to finance the operations of Salu. As of the audit report date, the agreement is still subject to close. Saturna Group Chartered Professional Accountants LLP acted as accountant to AIML. AI/ML Innovations Inc. (TSXV:AIML) completed the acquisition of a 70% stake in Salu Design Group Inc. on January 8, 2021. In conjunction with this acquisition, the company completed a private placement of CAD 1 million by the issuance of 4 million units at CAD 0.25 per unit, a name change and settled debt of CAD 1 million by the issuance of 4 million units at CAD 0.25. In conjunction with closing of the acquisition, the Founders of Health Gauge, Randy Duguay and Bruce Matichuk have been appointed to the Board of Directors of the company and have taken over the rolls of President and Chief Executive Officer and Chief Technical Officer, respectively. John Cook has resigned as Chief Executive Officer but remains a Director and Ken Ralfs has resigned as a Director. Proceeds of the private placement will be used for working capital for Health Gauge and for general working capital.