sur AI/ML Innovations Inc. (isin : CA00143Y1034)
AI/ML Innovations Inc. Completes Initial Private Placement
AI/ML Innovations Inc. has announced the completion of its initial private placement, raising $1,279,750 through the issuance of 19,688,461 shares and warrants. The non-brokered offering included finder fees of $44,070 and 504,000 broker warrants. These securities will face a trading restriction for four months and one day.
Each unit in the placement consists of a common share and a warrant, allowing the purchase of another share at $0.15, with the warrant expiring in two years. The company can accelerate this expiry if specific trading conditions are met.
Proceeds from the placement will support working capital. Notably, company insiders accounted for a substantial portion of the total units issued, utilizing exemptions for insider participation regulations.
R. H.
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