13:37:45 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Predictiv AI Inc
Symbol PAI
Shares Issued 93,500,616
Close 2024-03-18 C$ 0.02
Market Cap C$ 1,870,012
Recent Sedar Documents

Predictiv AI arranges $250,000 private placement

2024-03-19 12:12 ET - News Release

Mr. Khurram Qureshi reports

PREDICTIV AI ANNOUNCES PRIVATE PLACEMENT FINANCING & PROPOSED SHARES FOR DEBT TRANSACTION

Predictiv AI Inc. has arranged a non-brokered private placement of up to 12.5 million units at two cents per unit for gross proceeds of up to $250,000. Each unit comprises one common share of Predictiv AI and one share purchase warrant. Each warrant will entitle the holder to acquire one additional share of the company at an exercise price of five cents per share for a period of 24 months from the date of issuance. If the volume-weighted average price of the shares on the TSX Venture Exchange NEX is equal to or greater than 10 cents for any 10 consecutive trading days, four months and a day after the closing of the offering, Predictiv AI may, upon providing written notice to the holders of warrants, accelerate the expiry date of the warrants to the date that is 30 days following the date of such written notice.

In addition, Predictiv AI is proposing to enter into debt settlement agreements with debt holders, as well as certain officers, directors and consultants of the company, to convert an aggregate of $500,000 in payables. The company intends to issue debt settlement shares in order to preserve working capital to finance operations. Predictiv AI plans to issue an aggregate of 25 million debt settlement shares at a deemed issuance price of two cents per debt settlement share in satisfaction of loans outstanding and payables owing.

The debt settlement shares will be issued in reliance on certain prospectus exemptions available under Canadian securities legislation and will be subject to a four-month hold period from the date of issuance.

Of the proposed debt settlement shares, 12,152,990 are proposed to be issued to insiders of the company. Pursuant to Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions), the settlement of such payables will constitute a related-party transaction as the insiders are considered to be related parties to Predictiv AI. The company will rely on exemptions from the formal valuation and minority approval requirements of MI 61-101 (pursuant to subsections 5.5(a) and 5.7(a)) as the fair market value of the securities to be distributed to and the consideration received from the insiders will not exceed 25 per cent of the Predictiv AI's market capitalization. The settlement of the payables has been approved by all of the directors of the company.

Conversion of the payables and issuance of the debt settlement shares is subject to the acceptance of the TSX Venture Exchange NEX. There is no guarantee that such conditions precedent will be satisfied or that any of the transactions will be completed as described herein or at all.

About Predictiv AI Inc.

Predictiv AI is a technology company which helps businesses and organizations make smarter decisions using advanced artificial intelligence, deep machine learning and data science techniques.

We seek Safe Harbor.

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