AI/ML Innovations Inc. Announces New Chief Financial Officer and Corporate Secretary; Enters Debt Settlement Arrangement
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. (AIMLF) ha annunciato importanti cambiamenti nel proprio team di leadership e un accordo di liquidazione del debito. L’azienda ha nominato Terence Lee, un CPA con 11 anni di esperienza nel settore finanziario, come nuovo Chief Financial Officer, sostituendo Tim Daniels che rimane nel Consiglio. Kendra Low, una professionista esperta in governance con oltre 20 anni di esperienza, entra come Segretario Aziendale.
L’azienda ha concesso 1.250.000 opzioni su azioni ai dirigenti a un prezzo di esercizio di $0,09 per azione, che scadranno tra cinque anni. Inoltre, AI/ML ha stipulato un accordo di liquidazione del debito per convertire $17.260 di debito in 302.891 azioni a $0,08 per azione, soggetto all'approvazione regolamentare.
AI/ML Innovations Inc. (AIMLF) ha anunciado cambios clave en el liderazgo y un acuerdo de liquidación de deuda. La empresa nombró a Terence Lee, un CPA con 11 años de experiencia en finanzas, como Director Financiero, reemplazando a Tim Daniels, quien permanece en la Junta. Kendra Low, una profesional con amplia experiencia en gobernanza de más de 20 años, se une como Secretaria Corporativa.
La empresa otorgó 1.250.000 opciones sobre acciones a los directivos a un precio de ejercicio de $0,09 por acción, que caducarán en cinco años. Además, AI/ML firmó un acuerdo de liquidación de deuda para convertir $17.260 de deuda en 302.891 acciones a $0,08 por acción, sujeto a la aprobación reglamentaria.
AI/ML Innovations Inc. (AIMLF)는 주요 리더십 변경 및 채무 정산 계약을 발표했습니다. 이 회사는 11년의 재무 경험을 가진 CPA인 Terence Lee를 최고 재무 책임자(CFO)로 임명했으며, Tim Daniels는 이사회에 남아 있습니다. Kendra Low는 20년 이상의 경험을 가진 전문 거버넌스 전문가로서 기업 비서로 합류합니다.
회사는 임원들에게 1,250,000 주식 옵션을 부여했으며, 행사 가격은 주당 $0.09로, 5년 후에 만료됩니다. 또한 AI/ML은 $17,260의 채무를 302,891 주식으로 전환하는 채무 정산 계약을 체결했으며, 주당 $0.08로 규제 승인을 받아야 합니다.
AI/ML Innovations Inc. (AIMLF) a annoncé des changements clés au niveau du leadership ainsi qu'un accord de règlement de dettes. La société a nommé Terence Lee, un CPA avec 11 ans d'expérience dans les finances, comme directeur financier, remplaçant Tim Daniels qui reste au conseil d'administration. Kendra Low, une professionnelle expérimentée en gouvernance avec plus de 20 ans d'expérience, rejoint l'entreprise en tant que secrétaire général.
La société a accordé 1.250.000 options d'achat d'actions à des dirigeants à un prix d'exercice de 0,09 $ par action, qui expireront dans cinq ans. De plus, AI/ML a signé un accord de règlement de dettes pour convertir 17.260 $ de dettes en 302.891 actions à 0,08 $ par action, sous réserve de l'approbation réglementaire.
AI/ML Innovations Inc. (AIMLF) hat wichtige Führungswechsel und eine Schuldenregelungsvereinbarung bekannt gegeben. Das Unternehmen hat Terence Lee, einen CPA mit 11 Jahren Finanzerfahrung, zum Chief Financial Officer ernannt, der Tim Daniels ersetzt, der im Vorstand bleibt. Kendra Low, eine erfahrene Governance-Expertin mit über 20 Jahren Erfahrung, wird Unternehmenssekretärin.
Das Unternehmen hat 1.250.000 Aktienoptionen an Führungskräfte zu einem Ausübungspreis von 0,09 $ pro Aktie gewährt, die in fünf Jahren auslaufen. Darüber hinaus hat AI/ML eine Schuldenregelungsvereinbarung getroffen, um Schulden in Höhe von 17.260 US-Dollar in 302.891 Aktien zu einem Preis von 0,08 $ pro Aktie umzuwandeln, vorbehaltlich der Genehmigung durch die Aufsichtsbehörden.
- Appointment of experienced CFO with public company and financial reporting expertise
- Addition of seasoned Corporate Secretary with 20+ years of governance experience
- Issuance of 302,891 shares for debt settlement indicating cash flow challenges
- Dilutive effect of 1,250,000 new stock options granted to officers
VICTORIA, BC / ACCESSWIRE / December 3, 2024 / AI/ML Innovations Inc. ("AI/ML" or the "Company") (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB), a leading company committed to acquiring and advancing Artificial Intelligence/Machine Learning technologies that address urgent societal needs, is pleased to report that, effective immediately, it has appointed Terence Lee as Chief Financial Officer.
Terence is Chartered Professional Accountant ("CPA") with 11 years of progressive finance experience and in-depth knowledge reporting under International Financial Reporting Standards. Terence has worked in various financial reporting and financial planning roles, for both private and public companies, within various sectors including: Life Sciences, Health Care, Technology, and Mining. Terence holds a Bachelor of Business Administration (finance) from Simon Fraser University and a Diploma of Accounting from UBC. He obtained his CPA designation while articling with BDO Canada LLP where he specialized in financial audits of public companies. Terence is con-currently a partner at Imperium Consulting LLP, a Vancouver-based accounting and advisory firm.
Tim Daniels, Chairman of AIML Innovations commented, "I am pleased to welcome Terence Lee as our new Chief Financial Officer. Terence will be an integral member of our management, adding his invaluable expertise to our experienced team as we migrate to the next phase of commercialization of our suite of health tech products."
The Company would like to thank Tim Daniels, its outgoing CFO, for his past services. Mr. Daniels remains as a member of the Company's Board of Directors.
The Company also announces the appointment of Kendra Low as the Company's Corporate Secretary. With more than 20 years' experience working in corporate and sustainability governance, Kendra is an experienced and respected corporate secretary, governance professional and business strategist. She has advised boards and managed the governance function of publicly traded, private, and not-for-profit organizations through all stages of growth and in a wide variety of industries. She is the CEO and co-founder of Vancouver Corporate Solutions Inc., a firm focused on providing exceptional governance, corporate secretarial, and strategic advice to its clients. She is also the founder and President of Kalamandra Consulting Inc., a boutique advisory firm providing regulatory and strategic project delivery and advisory services to multinational and crown corporations. Kendra holds a Master of Business Administration ("MBA") from the University of British Columbia.
Stock Option Grant
The Company's Board of Directors has authorized, pursuant to its 2023 Stock Option Plan ("Plan"), the grant of an aggregate of 1,250,000 stock options ("Options") to certain officers of the Company, to purchase an aggregate of 1,250,000 common shares of the Company ("Shares") effective December 3, 2024 ("Grant Date). The Options were awarded at an exercise price of
Shares for Debt Arrangement
The Company also announces that it has entered into a Debt Settlement and Security Agreement with one creditor (the "Creditor") of New York, USA for payment of indebtedness owing to the Creditor in the aggregate total of US
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About AI/ML Innovations Inc.https://aiml-innovations.com/
AI/ML Innovations Inc. has realigned its business operations to capitalize on the burgeoning fields of artificial intelligence (AI) and machine learning (ML), with an initial investment focus on emerging digital health and wellbeing companies that leverage AI, ML, cloud computing and digital platforms to drive transformative healthcare management solutions and precision support delivery across the health continuum. Through strategic partnerships with Health Gauge Inc. (
On behalf of the Board of Directors
Tim Daniels, Executive Chairman
For more information about AI/ML Innovations:
For detailed information please see AI/ML's website or the Company's filed documents at www.sedarplus.ca
For further information, contact: Blake Fallis at (778) 405-0882 or info@aiml-innovations.com
The Canadian Securities Exchange has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: AI/ML Innovations, Inc.
View the original press release on accesswire.com
FAQ
What is the exercise price and expiry of AIMLF's new stock options granted on December 3, 2024?
How many shares is AIMLF issuing in its debt settlement arrangement?
Who was appointed as the new CFO of AIMLF in December 2024?
