AI / ML INNOVATIONS INC - AIMLF STOCK NEWS

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF) has announced a share purchase agreement to acquire Quantum Sciences , a company focused on developing digital healthcare solutions using AI, machine learning, and quantum-inspired methodologies. The acquisition is valued at $690,000, to be paid through the issuance of 10 million common shares at $0.069 per share, reflecting a 25% discount to the 20-day VWAP on the CSE.

Quantum specializes in developing products and services that enhance healthcare trajectories and workflow efficiency through meaningful patient and care provider participation. The transaction is subject to CSE approval and customary closing conditions, with no new control persons being created and no significant debt being assumed.

AI/ML Innovations Inc. (AIMLF) has announced key leadership changes and a debt settlement arrangement. The company appointed Terence Lee, a CPA with 11 years of finance experience, as Chief Financial Officer, replacing Tim Daniels who remains on the Board. Kendra Low, an experienced governance professional with over 20 years of experience, joins as Corporate Secretary.

The company granted 1,250,000 stock options to officers at an exercise price of $0.09 per share, expiring in five years. Additionally, AI/ML entered a debt settlement agreement to convert US$17,260 of debt into 302,891 shares at $0.08 per share, subject to regulatory approval.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF) has announced the re-appointment of Follow The Money Investment Group (FTMIG) as its marketing consultant. FTMIG, based in Hampton, Ontario, will help increase company awareness through various market communications initiatives, including media distribution across multiple online channels such as their website, social media platforms, and Reddit advertisements.

The 12-month engagement began on November 25, 2024, with a fee of $32,500 plus direct expenses, to be paid from general corporate funds. FTMIG's representative Karl Boyd will lead the services from Hampton, Ontario.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF) has completed its non-brokered private placement, raising a total of $2,872,289.94. The final tranche consisted of 24,500,615 Units at $0.065 per Unit, generating $1,592,539.98. Each Unit includes one Common Share and a two-year Warrant exercisable at $0.15 per share. The Company paid $76,032.90 in finder's fees and issued 1,169,737 broker warrants. Three insiders participated with 6,650,000 Units. The proceeds will be used for working capital requirements. Securities issued have a four-month trading restriction until March 27, 2025.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF) has completed the initial closing of its non-brokered private placement, raising $1,279,750 through the issuance of 19,688,461 Shares and Warrants. Each Unit consists of one Common Share and one Warrant, exercisable at $0.15 per share for two years. The company paid $44,070 in finder's fees and issued 504,000 broker warrants. Two company officers subscribed for 11.2% of the Units, while an insider controlling over 10% of shares subscribed for 35.5%. The proceeds will be used for working capital requirements.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF) announces an increase in its proposed non-brokered private placement from 20,000,000 to 40,000,000 units at $0.065 per unit, potentially raising up to $2,600,000. Each unit includes one Common Share and one Warrant exercisable at $0.15 per share within two years. The company received a 30-day extension, with closing anticipated by November 25, 2024. Proceeds will be used for general working capital. The warrant expiry can be accelerated with 30 days' notice if shares trade at $0.25 for 10 days.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) has announced a non-brokered private placement offering of up to 20,000,000 units at $0.065 per unit, aiming to raise up to $1,300,000. Each unit consists of one common share and one warrant, exercisable at $0.15 per share for two years. The company plans to use the net proceeds for working capital requirements. The offering is subject to regulatory approvals, including from the Canadian Securities Exchange.

AI/ML Innovations focuses on artificial intelligence and machine learning in the digital health and wellbeing sector. The company has strategic partnerships with Health Gauge (70% owned), Tech2Heal (22% ownership commitment), and AI Rx Inc. (70% owned).

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) has announced an impairment loss of $1,510,668 related to its investment in minority-owned subsidiary, Tech2Heal. The impairment assessment revealed that Tech2Heal's primary asset, Alakin, is currently meeting expectations with modest sales. However, the company faces significant challenges:

1. Immediate need for substantial new capital to maintain product competitiveness.
2. Rapid advancements in artificial intelligence surpassing the company's ability to modernize its technology.
3. Difficulty in remaining competitive and attracting new customers without successful AI integration into the platform.

The company's management will provide updates on plans to develop the business as they progress.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) has announced that the British Columbia Securities Commission (BCSC) has lifted the Management Cease Trade Order (MCTO) previously granted on August 29, 2024. This action comes after the company successfully completed all required filings for its annual and interim financial periods ending April 30, 2024, and July 31, 2024, respectively.

The MCTO was initially granted due to anticipated late filings of the company's annual audited financial statements and related documents for the financial year ended April 30, 2024. The company has now completed both the Annual Filings and the Interim Filings in accordance with Canadian securities law and regulation. With the MCTO revoked, members of management are no longer restricted from trading the company's common shares.