(TheNewswire)
August 27, 2021 – TheNewswire - AI/ML Innovations Inc. (CSE:AIML); (OTC:AIMLF); (CNSX:AIML.CN);(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 has introduced an incentive program in respect to the early exercise of certain outstanding warrants.
The Company has 4,000,000 Series B Warrants outstanding, each entitling the holder to subscribe for one common share for $0.50 until January 11, 2023. It also has 4,000,000 Series C Warrants outstanding, with each two (2) Series C Warrants allowing the acquisition of one common share for $0.50 until January 11, 2022.
In order to induce the holders of the Series B and Series C Warrants to exercise their warrants early, the Company will issue one new warrant to such holders for each warrant exercised prior to September 30, 2021. This new warrant is exercisable at $0.65 until January 11, 2023 for Series B holders, and each two new warrants are exercisable at $0.65 until September 30, 2022 for Series C holders. All new warrants will be subject to the rights of the Company to accelerate expiry upon 30 days’ notice if the shares of the Company trade on the CSE at or above $0.85 for a period of 10 days.
Insiders hold 12.5% of the Series B warrants and intend to exercise them early as part of this program. The Company is relying on various exemptions in MI 61-101 in respect to this insider participation.
About AI/ML Innovations Inc.
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, Tech2Health 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
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
For more information about AI/ML Innovations:
For detailed information please see AI/ML's website at https://aiml-innovations.com/
or the Company's filed documents at www.sedar.com.
For further information: Blake Fallis at (778) 405-0882 or info@aiml-innovations.com.
Presentations:
Investor slidedeck: https://aiml-innovations.com/wp-content/uploads/2021/01/AIML-mini-1-21.pdf
Corporate video: https://www.youtube.com/watch?v=k2QSjo7clXc&feature=youtu.be
Official YouTube Channel: https://www.youtube.com/channel/UCCfOj2P_Fu3TOK6Jl1G9vEQ
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.
Cautionary and Forward-Looking Statements
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including but not limited to, the uncertainty of competition by other industry players, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals and the ability to raise additional capital as may be needed in the future. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.
The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.
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