TORONTO, ON / ACCESSWIRE / October 12, 2021 / AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB), a company committed to acquiring and advancing Artificial Intelligence/Machine Learning technologies that address urgent societal needs, is pleased to announce that its majority-owned subsidiary, AI Rx Inc, is preparing for deployment of the Tech2Heal portfolio of products into the US marketplace. Tech2Heal is AIML's minority-owned subsidiary with a basket of wellness and health-tech products and services designed to improve an individual's mental health and well-being by utilizing a unique blend of proprietary digital assets, remote live counselling, and a physical wellness center. Tech2Heal's premier product, Qookka Live, provides mental and emotional health preventive and support services to corporations and health insurers from within one cohesive app.
In order to effectively enter the US market, AIML and AI Rx have retained the services of Oxygen Enterprises Inc. for a 12-month period, who is tasked with developing a cohesive and sustainable market penetration strategy for AI Rx which is focused on the digital behavioral health landscape. Additionally, Oxygen Enterprises will assist in: identifying and facilitating business acquisition/alliance opportunities for AIML that specifically identify disruptive technologies in the artificial intelligence and machine learning sector directly impacting cultural change and the empowerment of consumers relating to the mental health sector; facilitating introductions to key industry players; sourcing and vetting potential key management; evaluating regulatory requirements for product/services deployment by region, and more.
In consideration for the above noted services, AIML has agreed to pay CDN $80,000 (for the 12-month term), 100,000 AIML shares (subject to a hold period), and 100,000 AIML stock options with an exercise price of $0.80 per share and 2-year expiration, in accordance with the Corporation's Stock Option Plan.
About AI/ML Innovations Inc.
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 (70% owned by AIML), Tech2Heal (22% 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 Chairman
For more information about AI/ML Innovations:
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: Blake Fallis at (778) 405-0882 or [email protected].
Presentations:
Corporate video: https://www.youtube.com/watch?v=k2QSjo7clXc&feature=youtu.be
Official YouTube Channel: https://www.youtube.com/channel/UCCfOj2P_Fu3TOK6Jl1G9vEQ
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Cautionary and Forward-Looking Statements
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including but not limited to, the uncertainty of competition by other industry players, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals and the ability to raise additional capital as may be needed in the future. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.
The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.
SOURCE: AI/ML Innovations Inc.