AIML Announces Updated Terms for Private Placement Offering

AI/ML Innovations Inc. has announced an update to the terms of its proposed non-brokered private placement offering, set to raise up to $2 million. The offering involves up to 40 million units priced at $0.05 per unit. Each unit consists of one common share and one warrant, which can be converted into a common share at $0.15.

The warrant term has been extended to three years. Post-closing, common shares and warrants will be subject to a hold period as per the CSE's policies. Proceeds will be used for working capital needs. A finder's fee is planned for those aiding sales, in cash or securities.

The offering requires necessary approvals, including from the Canadian Securities Exchange. AIML's stocks are listed on several exchanges, including CSE, OTCQB, and FWB.