AIML Restructures Quantum Sciences Acquisition for Strategic Growth

AI/ML Innovations Inc. (AIML) has announced a restructuring of its agreement related to the acquisition of Quantum Sciences Ltd. The new terms aim to enhance capital efficiency and expand future opportunities. Initially completed in December 2024, the acquisition’s consideration included 10 million AIML common shares and 4% royalties on Quantum's cardiology product sales.

As per the revised agreement, AIML will retain 6,264,822 consideration shares; the rest will be canceled. The royalties have been nullified. AIML will also enter a revenue-sharing agreement with the vendors and transfer intellectual property rights for the "meApp" to Orsmond.

This move aligns with AIML's strategic focus on AI-powered health solutions, streamlining operations to prioritize high-growth areas. The restructuring awaits approval from the Canadian Securities Exchange and other standard conditions.