AI/ML Innovations Inc. — Capital/Financing Update 2021

Jan 26, 2021

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NEWS RELEASE - For Immediate Distribution

AI/ML INNOVATIONS INC.

(the “Company”)

CSE – AIML

January 25, 2021

AI/ML Innovations Inc. Completes Second and Final Closing of Over-subscribed Strategic Financing for Total Gross Proceeds of $3 Million

AI/ML Innovations Inc. (CSE: AIML) is pleased to announce that, further to its news release of January 20[th] , 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 2,000,000k 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 in respect to the Offering of $36,450 and issued 48,600 finder’s warrants, each warrant entitling the holder to subscribe for one additional common share for $1.00 for a period of six months.

All securities issued pursuant to the financing are subject to a resale restriction until May 26, 2021.

For more information about AI/ML Innovations:

Investor slidedeck: https://aiml-innovations.com/wp-content/uploads/2021/01/AIML-mini-1-21.pdf Corporate video: https://www.youtube.com/watch?v=k2QSjo7clXc&feature=youtu.be

AI/ML Innovations Inc. has aligned its business operations to capitalize on the burgeoning areas of artificial intelligence (AI) and machine learning (ML), with an initial focus on emerging companies in the digital healthcare space. AI/ML’s shares are traded on the Canadian Securities Exchange under the symbol "AIML". For detailed information please see AI/ML's website at https://aiml-innovations.com/ or the Company's filed documents at www.sedar.com.

For further information, contact Blake Fallis at (250) 384-1999 or info@aiml-innovations.com.

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