AI/ML Innovations Inc. Announces Closing of Final Tranche of Private Placement to Raise $1,917,500
MorningStar·
- AI/ML Innovations Inc. has closed the second tranche of its private placement, issuing convertible debentures totaling $1,917,500, bringing the aggregate to $2,867,500.
- The debentures, convertible at a price of $0.05 per unit, mature on May 11, 2029, and bear interest at 10% per annum.
- This offering involves related party transactions, with insiders purchasing $340,000 in debentures, and is exempt from certain regulatory requirements.