Business
AI/ML Innovations Inc. Announces Settlement of Debt with ThreeD Capital Inc.
VICTORIA, BC / ACCESSWIRE / August 15, 2024 / AI/ML Innovations Inc. ("AI/ML" or the "Company") ...
About this update from Aiml Innovations Inc
[{"type":"text","content":"AI/ML Innovations Inc. Announces Settlement of Debt with ThreeD Capital Inc.VICTORIA, BC / ACCESSWIRE / August 15, 2024 / AI/ML Innovations Inc. (\"AI/ML\" or the \"Company\") (CSE:AIML)(OTCQB:AIMLF)(FWB: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 $47,460 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 949,200 Common Shares, at a deemed price of $0.05 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 ChairmanFor more information about AI/ML Innovations:For detailed information please see AI/ML's website or the Company's filed documents at www.sedarplus.caFor further information, contact: Blake Fallis at (778) 405-0882 or [email protected] the CSE nor its Regulation Services Provider (as that term is defined in the policies of t...