AI/ML Innovations Inc. Completes Acquisition of Technology from Naiad Lab Inc

Rhea-AI Summary

AI/ML Innovations Inc. (CSE:AIML, OTCQB:AIMLF) has completed its acquisition of technology from Naiad Lab Inc. The company issued 6,700,000 shares at $0.05 per share to Naiad Lab, subject to a 12-month voluntary hold period. This acquisition aligns with AIML's focus on AI and machine learning technologies in digital health and wellbeing. AIML's strategy involves partnerships and investments in companies like Health Gauge Inc. (95.2% owned), Tech2Heal (up to 22% ownership rights), AI Rx Inc. (70% owned), and NeuralCloud Solutions Inc. (100% owned). The company aims to capitalize on expanding growth areas in AI-driven healthcare management solutions and precision support delivery.

Positive

• Acquisition of new technology from Naiad Lab Inc, potentially enhancing AIML's technological capabilities
• Strategic alignment with AI and machine learning focus in digital health sector
• Diverse portfolio of investments in AI-driven healthcare companies

Negative

• Issuance of 6,700,000 new shares, potentially diluting existing shareholders
• 12-month voluntary hold period on newly issued shares, limiting liquidity

VICTORIA, BC / ACCESSWIRE / August 23, 2024 / AI/ML Innovations Inc. ("AIML" 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 announce that it has closed its previously announced acquisition of technology from Naiad Lab Inc. The Company issued a total of 6,700,000 at a deemed price of $0.05 per share to Naiad Lab Inc.

As per the Agreement, the Common Shares issued are subject to a twelve-month voluntary hold period.

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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.

For AI/ML Innovations Investors

Certain statements made in this press release that are not based on historical information are forward-looking statements that involve substantial known and unknown risks and uncertainties. This press release contains express or implied forward-looking statements relating to, among other things, AI/ML Innovations' expectations concerning management's plans, objectives, and strategies, including strategies for defending the Company's intellectual property. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. AI/ML Innovations Inc. undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events, or circumstances or otherwise except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by AI/ML with the securities regulatory authorities, available at www.sedarplus.ca

SOURCE: AI/ML Innovations, Inc.

View the original press release on accesswire.com

FAQ

What technology did AI/ML Innovations (AIMLF) acquire from Naiad Lab Inc?

The press release doesn't specify the exact technology acquired from Naiad Lab Inc. It only states that AI/ML Innovations completed the acquisition of technology from Naiad Lab Inc.

How many shares did AI/ML Innovations (AIMLF) issue for the Naiad Lab acquisition?

AI/ML Innovations issued 6,700,000 shares at a deemed price of $0.05 per share to Naiad Lab Inc for the technology acquisition.

What is the hold period for the shares issued by AI/ML Innovations (AIMLF) in the Naiad Lab deal?

The common shares issued in the Naiad Lab deal are subject to a twelve-month voluntary hold period.

What are AI/ML Innovations' (AIMLF) main investment focus areas?

AI/ML Innovations focuses on emerging digital health and wellbeing companies that leverage AI, ML, cloud computing, and digital platforms for healthcare management solutions and precision support delivery.