AIML raises $2.13 million in oversubscribed private placement

AI/ML Innovations Inc. (CSE: AIML) completed a non-brokered private placement on September 4, 2025, raising $2,128,595 through the sale of 42,571,900 units at $0.05 per unit, according to a company statement.

The offering exceeded the initially proposed 31,000,000 units that would have raised $1,550,000. Each unit consists of one common share and one warrant exercisable at $0.15 per share until September 22, 2030.

Company insiders participated in the placement, with CEO Paul Duffy acquiring 5,000,000 units, President Peter Kendall purchasing 500,000 units, Chief Product Officer Esmatullah Naikyar buying 120,000 units, and shareholder Sheldon Inwentash obtaining 26,000,000 units through various entities.

The company plans to use net proceeds for general working capital. Securities issued in the placement are subject to a statutory hold period ending January 23, 2026. Finder's fees of $12,600 were paid and 210,000 finder's warrants were issued.

AIML also extended the expiry date of 12,376,666 warrants from a December 2023 financing. The warrants, exercisable at $0.12 per share, now expire December 19, 2028, instead of the original December 19, 2025 date.

Additionally, the company's board authorized 5,700,000 stock options for officers, employees and consultants at an exercise price of $0.10 per share, expiring five years from September 22, 2025. The options vest quarterly over one to two years depending on the grant.

AIML develops artificial intelligence and machine learning technology for digital health applications. The company trades on the Canadian Securities Exchange, OTCQB Venture Market (AIMLF), and Frankfurt Stock Exchange (42FB).

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