AI/ML Innovations Inc. Announces Proposed Private Placement

TORONTO, ON / ACCESSWIRE / June 16, 2023 / AI/ML Innovations Inc. (CSE - AIML); (OTCQB - AIMLF); (FWB - 42FB), a company committed to acquiring and advancing Artificial Intelligence/Machine Learning technologies that address urgent societal needs, is pleased to announce that it intends to complete a non-brokered private placement offering of up to 3,000,000 units ("Units") at a price of $0.11 per Unit for gross proceeds of up to $330,000 (the "Private Placement"). Each Unit is comprised of one Common Share and one Warrant which will be exercisable into one (1) Common Share of the Company (each a "Warrant Share"). Each Warrant will have a term of two (2) years and will entitle the holder to purchase one (1) Warrant Share at a price of $0.20 per share following the closing date. The Private Placement will follow the final closing of the previously announced $0.075 unit financing, as announced by the Company on June 6, 2023.

The Common Shares and Warrants comprising the Units will be subject to a four-month and one day hold period in accordance with the policies of the CSE and applicable securities legislation.

The Company intends to use net proceeds of the Private Placement for working capital requirements and product development.

The Company will pay a finder's fee to qualified finders who assist in selling the Units, in cash or securities or a combination of both, as permitted by CSE policy and applicable securities laws.

The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including approval from the Canadian Securities Exchange.

For more information about AI/ML Innovations:

For detailed information please see AI/ML's website at https://aiml-innovations.com/
or the Company's filed documents at www.sedar.com
Presentations:
For further information, contact: Blake Fallis at (778) 405-0882 or info@aiml-innovations.com.
Investor slidedeck: https://aiml-innovations.com/wp-content/uploads/2021/11/AIML-pres-11-21-v1.2.pdf
Corporate video: https://www.youtube.com/watch?v=k2QSjo7clXc&feature=youtu.be
Official YouTube Channel: https://www.youtube.com/channel/UCCfOj2P_Fu3TOK6Jl1G9vEQ

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 (70% owned by AIML), Tech2Heal (22% ownership commitment by AIML), AI Rx Inc. (70% owned by AIML) and other planned accretive investments, the Company continues to capitalize on expanding growth areas, to the benefit of all the Company's stakeholders. AI/ML's shares are traded on the Canadian Securities Exchange under the symbol "AIML", the OTCQB Venture Market under "AIMLF", and the Frankfurt Stock Exchange under "42FB".

On behalf of the Board of Directors

Tim Daniels, Executive Chairman

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: AI/ML Innovations Inc.

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