AI/ML Innovations Inc. Announces Revocation of MCTO

Rhea-AI Summary

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.

Positive

• MCTO lifted by BCSC, allowing management to resume trading company shares
• Successful completion of all required financial filings for annual and interim periods

Negative

• None.

VICTORIA, BC / ACCESSWIRE / October 2, 2024 / AI/ML Innovations Inc. ("AI/ML" or the "Company") (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) is pleased to announce that the Company's principal regulator, the British Columbia Securities Commission ("BCSC") has lifted the Management Cease Trade Order ("MCTO") it had previously granted the Company on August 29, 2024 under National Policy 12-203 Management Cease Trade Orders ("NP 12-203"), as the Company has now successfully completed all requisite filings for its annual and interim financial periods ending April 30, 2024 and July 31, 2024, respectively. Revoking the MCTO means members of management are no longer prevented from trading the Company's common shares.

The MCTO had been granted in conjunction with the Company's anticipated late filings of its annual audited financial statements, management's discussion and analysis and related certifications for the financial year ended April 30, 2024, which were originally due August 28, 2024 (collectively, the "Annual Filings").

As a result of circumstances reasonably linked to the Company's delay in filing the Annual Filings, the Company anticipated being unable to meet the deadline for filing its interim unaudited financial statements, interim management's discussion and analysis and related certifications for the three-month period ended July 31, 2024 (collectively, the "Interim Filings", and together with the Annual Filings, the "Required Filings"). Fortunately, the Company was able to complete the Interim Filings in accordance with Canadian securities law and regulation. Under the securities laws of the provinces in which AI/ML is a reporting issuer, the Interim Filings were to be filed by October 1, 2024.

The Company remains committed to timely financial transparency and wishes to thank its shareholders, auditors and the BCSC, for their continued trust.

AI/ML's Required Filings are publicly available on www.sedarplus.ca.

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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. (95.2% owned by AIML), Tech2Heal (up to 22% ownership rights, with 12.44% currently owned by AIML), AI Rx Inc. (70% owned by AIML), NeuralCloud Solutions Inc. (100% 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

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

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.

View the original press release on accesswire.com

FAQ

What is the significance of the MCTO revocation for AI/ML Innovations Inc. (AIMLF)?

The revocation of the MCTO allows AI/ML Innovations Inc.'s management to resume trading the company's common shares, indicating compliance with financial reporting requirements and improved transparency for investors.

When did AI/ML Innovations Inc. (AIMLF) complete its required financial filings?

AI/ML Innovations Inc. completed its Annual Filings for the period ending April 30, 2024, and Interim Filings for the period ending July 31, 2024, before October 2, 2024, when the MCTO was lifted.

What caused the initial Management Cease Trade Order (MCTO) for AI/ML Innovations Inc. (AIMLF)?

The MCTO was initially granted on August 29, 2024, due to anticipated late filings of AI/ML Innovations Inc.'s annual audited financial statements and related documents for the financial year ended April 30, 2024.

Where can investors access AI/ML Innovations Inc.'s (AIMLF) financial filings?

AI/ML Innovations Inc.'s required financial filings are publicly available on www.sedarplus.ca.