AI/ML Innovations Inc. has announced a non-brokered private placement of convertible debentures in the principal amount of up to CAD 3,000,000 on March 12, 2026. The Debentures converted into units at the option of the holder of the Debentures at a conversion price of CAD 0.05 per Unit. Each unit consists of one common share and one half of one common share purchase warrant.
Each warrant will entitle the holder thereof to purchase one common share for a price of CAD 0.15 for a period of 36 months from the date of closing. The Debentures will bear interest at a rate of 10% per annum that accrues and is payable on the earlier of maturity or conversion with unpaid interest also being convertible into Units under the same terms. The Debentures shall mature on the date that is three years following the date of issuance thereof. The transaction is subject to closing conditions, including the approval of the Canadian Securities Exchange.
