CEO, largest shareholder and Co-founder/longstanding investor are among participants in the financing totalling
Upon closing of the private placement the Company issued 3,000,000 units (each, a "Unit") priced at
Purchasers of these Units include the Company's CEO
The Company has also issued convertible debentures with a face value of 400,000. The purchase of these debentures is led by ThreeD. These debentures carry an interest rate of 10% per year compounded semi-annually, have a maturity date of
In addition, the Company has granted options to a consultant for the purchase of up to 500,000 Shares at a price of
"At our recent Annual General Shareholders' Meeting ("AGM") we announced a new professional services business initiative that leverages our unique AI talent base on behalf of customers interested in adopting our technology, but unable to attract and retain staff capable of building robust machine learning algorithms," said
"To capture this revenue acceleration opportunity,
ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD's investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to its ecosystem.
Trusted since 2014 to provide environmental monitoring to many of the largest water infrastructure utilities in the
infinitii ai software performs real-time analysis, checks flow monitoring status, sets alarms through a single interface, accepts all types of data from any source and offers predictive (what will happen) and prescriptive (what should happen) analytics. Whether it's real-time, historic, wireless, satellite, SCADA or public data sets including
The Canadian Securities Exchange (operated by
This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on certain key expectations and assumptions made by the management of infinitii ai, including the expectation of future revenue growth. Although infinitii ai believes that the expectations and assumptions upon which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because infinitii ai can provide no assurance that they will prove to be correct. Any forward-looking statements contained in this press release are made as of the date of this press release. infinitii ai disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
SOURCE infinitii ai inc.
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