AI/ML Innovations Completes Transaction to Acquire Significant Interest in Digital Mental Health Provider, Tech2Heal

• Historical track record/proof of business model - the founders of Tech2Heal utilized an earlier version of their digital wellness platform model to generate historical revenues totalling US$4.2 million, providing services to leading health insurers such as Malakoff Humanis, Groupe Mutuel, Mapa, Apicil and others.

TORONTO, ON / ACCESSWIRE / September 23, 2021 / 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 entered into a definitive agreement with the Paris, France based company, Tech2Heal SAS (DBA Tech2Health), regarding the acquisition of an equity interest in Tech2Heal and certain exclusive territorial commercial rights to its products, by AIML (the "Transaction").

Tech2Health is a digital healthcare innovator with a portfolio of mental wellness and health-tech products and services designed to improve an individual's mental well-being by utilizing a unique blend of proprietary digital assets, remote live counselling, and a physical wellness center. Tech2Health has developed a clinically supported and evidence-based methodology consisting of psychotherapies and non-medicinal interventions that apply body and mind healing techniques, delivered via a secure digital platform.

The salient commercial terms of the Transaction are:

1. AIML and Tech2Heal co-own, on a 70:30 basis, equity in an AIML subsidiary called AI Rx Inc, a B.C. company. AI Rx Inc. has been granted 100% of the North American rights (USA, Canada, and Mexico) to the exclusive commercial use of all products, brands, and trademarks of Tech2Heal, in perpetuity (the "Strategic Alliance"). AIML will issue 1.5 million of its common shares (subject to a minimum 12-month voluntary restriction) from its treasury (at a deemed price of CAD$0.80 per share) to Tech2Heal as full and final compensation regarding the Strategic Alliance. AIML retains 2 of 3 Board seats, as well as management and operational control of AI Rx Inc.
2. AIML acquires an undivided interest in Tech2Health's global operations by way of a €2million total investment into Tech2Heal, in return for 22.22% of Tech2Heal's common share equity. AIML advanced €750,000 in conjunction with the closing of the Transaction, with an additional €250,000 due on the 6-month anniversary, €500,000 due on the 12-month anniversary, and a final €500,000 due on the 18-month anniversary of the closing of the Transaction. The funds advanced to Tech2Heal by AIML will be used to further Tech2Health's technologies and global market penetration strategies as per a pre-agreed upon use of proceeds plan. AIML will hold a permanent seat on the Board of Directors of Tech2Heal.
3. AIML has agreed to pay an arm's length finder a fee equivalent to 5% of the acquisition value for the introduction to Tech2Heal. The fee will be payable in units of AIML at a deemed value of $0.80 per unit. Each unit is comprised of one share and one warrant exercisable at $1.00 for 2 years.

About Tech2Health https://www.qookka.me/