AI/ML Innovations Inc. Initiates $2M Private Placement Plan

AI/ML Innovations Inc. has announced a proposed non-brokered private placement, aiming to raise up to $2 million. The company plans to offer up to 40 million units at a price of $0.05 per unit. Each unit will provide one common share and one warrant, exercisable at $0.15 for a two-year term.

The proceeds from this offering are intended to support working capital needs. The units will include a four-month and one-day holding period in line with regulatory requirements. AIML will also pay finder's fees as part of the process.

The successful completion of the placement is contingent on receiving necessary approvals, including clearance from the Canadian Securities Exchange. AIML's shares are listed on multiple platforms, including the CSE under "AIML".