AI/ML Innovations Inc. Announces Settlement of Debt with ThreeD Capital Inc.

TORONTO, ON / ACCESSWIRE / March 11, 2024 / AI/ML Innovations Inc. ("AI/ML" or the "Company") (CSE:AIML)(OTCQB:AIMLF)(FRA:42FB) announced that it has entered into a Debt Settlement and Security Agreement with ThreeD Capital Inc. (the "Creditor") of Toronto, Ontario for payment of indebtedness owing to the Creditor in the aggregate total of $27,120 with respect to services rendered by the Creditor (the "Shares for Debt Transaction"). The Creditor has agreed to the conversion of such debt into common shares of the Company (the "Common Shares"). Pursuant to the Shares for Debt Transaction, the Company will issue to the Creditor a total of 339,000 Common Shares, at a deemed price of $0.08 per Common Share. The proposed Shares for Debt Transaction is subject to the approval of the Canadian Securities Exchange.

The Common Shares issued will be subject to a four-month hold period.

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 (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) 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 [phone] or [e-mail]

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


The AI/ML Innovations Stock at the time of publication of the news with a raise of +2,08 % to 0,049USD on Lang & Schwarz stock exchange (11. März 2024, 22:06 Uhr).