AI/ML Innovations Inc. Announces Proposed Private Placement of Convertible Debentures

Executive Summary

• AI/ML Innovations Inc. proposes a non‑brokered private placement to issue up to $3,000,000 of convertible debentures.
• Each debenture may be converted at the holder’s option into units consisting of one common share and one warrant (exercise price $0.15, 36‑month term).
• Debentures bear 10% annual interest, accrue interest payable at maturity or conversion, and mature three years from issuance; accrued interest is also convertible into units.

Key Details

• Offering Size: Principal amount up to $3,000,000 of convertible debentures.
• Conversion Price: $0.05 per unit (one common share + one warrant).
• Warrant Terms: Each whole warrant exercisable for one common share at $0.15, valid for 36 months from issuance; anti‑dilution provisions apply.
• Interest Rate: 10% per annum, accruing and payable on the earlier of maturity or conversion; accrued/unpaid interest convertible into units under same terms.
• Maturity: Debentures mature three years after the date of issuance.
• Closing Conditions: Subject to customary closing conditions, including approval by the Canadian Securities Exchange (CSE).
• Regulatory Notice: Offering not registered in the United States; securities may not be offered or sold to U.S. persons unless an exemption applies.

Notable Quotes

(No executive quotes were included in the release.)