AI/ML Innovations Inc. (CSE: AIML; OTCQB: AIMLF; FWB: 42FB), a Toronto-based digital health technology company, has announced the appointment of Lynn Chapman, CPA, CA, as Chief Financial Officer, effective October 1, 2026. Simultaneously, the company disclosed plans to issue 7,744,062 common shares at a deemed price of CAD$0.05 per share to settle outstanding debt with certain service providers. The dual announcement marks a notable executive and capital-structure development for investors watching the company's commercialisation progress.

Key Points

  • AI/ML Innovations Inc. (CSE: AIML; OTCQB: AIMLF; FWB: 42FB) is a Toronto-based artificial intelligence and digital health technology company.
  • Lynn Chapman, CPA, CA, has been appointed CFO effective October 1, 2026, replacing outgoing CFO Terence Lee.
  • The company proposes to issue 7,744,062 common shares at CAD$0.05 per share for debt settlement, pending CSE approval.
  • Insiders are expected to receive 4,900,001 of the Subject Shares, triggering related-party transaction rules under MI 61-101.

Lynn Chapman Brings Over 15 Years of Public-Company Finance Experience to AIML

Chapman is a Chartered Professional Accountant of Alberta with more than 15 years of financial and managerial experience serving publicly listed issuers on the Toronto Stock Exchange, TSX Venture Exchange, and Canadian Securities Exchange, as well as private companies across multiple industries and international jurisdictions. He began his career with KPMG LLP following graduation from Mount Royal University with a Bachelor of Business Administration. Executive Chairman and CEO Paul Duffy stated in the release that Chapman's public-company reporting experience and financial discipline would be an important addition as AIML advances its digital health platforms and commercialisation strategy.

Terence Lee Departs as AIML Transitions Its Finance Leadership

The announcement confirms that Chapman replaces Terence Lee, who previously served as the company's Chief Financial Officer. The release states that AIML extends its thanks to Mr. Lee for his contributions and service to the company and wishes him well in future endeavours. No details regarding the circumstances or timing of Mr. Lee's departure beyond the effective date of the transition were disclosed in the announcement. The immediate share price impact of the leadership change was not clear from available public information.

Proposed Debt-Settlement Share Issuance Involves Related-Party Considerations

AI/ML Innovations has entered into agreements with certain service providers to issue an aggregate of 7,744,062 common shares at a deemed price of CAD$0.05 per share in satisfaction of outstanding indebtedness and past services. The issuance remains subject to CSE approval. Of the total shares proposed, insiders are expected to receive 4,900,001 Subject Shares, classifying the transaction as a related-party transaction under Multilateral Instrument 61-101. The company states it qualifies for exemptions from formal valuation and minority shareholder approval requirements, as the fair market values involved did not exceed 25% of the company's market capitalisation under MI 61-101.