AI/ML Innovations Inc. (CSE: AIML) is pleased to announce that, further to its news release of January 20 the it has completed the second and final closing of a non-brokered private placement offering (the 'Offering'). The Offering generated gross proceeds of $3,000,000.00 for 4,000,000 units at $0.75 per unit.

The Offering is comprised of the previously announced first closing of 2,000,000 units for gross proceeds of $1,500,000, combined with the herein announced second closing of 2,000,000 units for gross proceeds of $3,000,000.00. Each unit is comprised of one common share and one share purchase warrant, with each warrant having an exercise price of $1.00 and an expiration date of 18 months from the date of issuance, subject to the Company's option to accelerate expiry if its shares trade at $1.25 or more for 10 consecutive trading days.

The Company intends to use the proceeds of this offering to further advance its platform deployment with key healthcare clients as well as to pursue accretive acquisitions. The Company paid finder's fees to Canadian securities dealers in respect to the Offering of $34,200 cash and issued 45,600 finder's warrants, each warrant entitling the holder to subscribe for one additional common share for $1.00 for a period of six months.

Contact:

Tel: (250) 384-1999

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