AIML Sharpens Focus with Strategic Exit from Tech2Heal
Aligning Resources for Commercialization and Core Portfolio Growth
Transition Positions AIML to Prioritize Commercial Execution While Remaining Open to Future Collaboration
VANCOUVER, BC / ACCESS Newswire / March 21, 2025 / AI/ML Innovations Inc. ("AIML" or the "Company") (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) is pleased to announce the execution of a formal exit agreement dated March 21, 2025 (the "Agreement") with Tech2Heal SAS ("T2H"), a France-based digital health company in which AIML previously held a minority interest.
On October 10, 2024, AIML reported an impairment loss of $1,510,668, following an internal assessment of its investment in T2H. While T2H had achieved modest growth, AIML determined that the company would require significant new capital to compete effectively in the market. As a result, AIML has concluded that it is in the best interest of the Company's stakeholders to focus the utilization of its human, financial and technological resources on the commercialization of its core holdings; NeuralCloud Solutions Inc., Health Gauge Inc., and Quantum Sciences Ltd.
Per the Agreement, AIML will relinquish: 1) its 11.11% equity position in T2H; 2) its right to a seat on the T2H's board of directors; and 3) AI RX Inc.'s exclusive rights to T2H's products in North America. In return, T2H will rescind: 1) ownership of 1,500,000 common shares of AIML ("Shares"), which will be returned for cancellation; and 2) all 30% equity of AI RX Inc. owned by T2H. Further, Fabrice Pakin, CEO of T2H, did not stand for re-election to the AIML Board of Directors at the Company's recent annual general and special meeting of shareholders. Mr. Pakin will also resign from the board of directors of AI RX Inc.
Paul Duffy, CEO and Chairman of AIML, stated: "AIML remains committed to advancing digital health innovations that leverage artificial intelligence and machine learning. Looking ahead, this decision provides a clean transition and plenty of room for collaboration between our two organizations, particular with our ECG signal algorithm, while we maintain our focus on high-impact opportunities within our core portfolio. We appreciate T2H's contributions and look forward to potential collaborations in the future"
For more information about AIML:
For detailed information please see AIML's website or the Company's filed documents at www.sedarplus.ca.
For further information, contact: Blake Fallis at (778) 405-0882 or info@aiml-innovations.com.
About AI/ML Innovations Inc. https://aiml-innovations.com/
AIML 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 its 100% owned Quantum Sciences Ltd., NeuralCloud Solutions Inc. and AI Rx Inc., its strategic partnership with Health Gauge Inc. (95.2% 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. AIML'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:
Paul Duffy, Executive Chairman
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including with respect to the completion of the transactions proposed by the Agreement. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of AIML, including the timing and nature of all closing deliverables and whether the transactions contemplated by the Agreement will be completed as currently proposed or at all. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
SOURCE: AI/ML Innovations, Inc.
View the original press release on ACCESS Newswire
