SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 24, 2021 (August 23, 2021)
|ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC.|
|(Exact name of registrant as specified in its charter)|
or other jurisdiction
10800 Galaxie Avenue
Ferndale, MI 48220
|(Address of principal executive offices)|
|(Registrant’s telephone number, including area code)|
|(Former name or former address, if changed since last report.)|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
When used in this Current Report on Form 8-K, unless otherwise indicated, the terms the “Company,” “our,” or “we” refer to Artificial Intelligence Technology Solutions Inc. and its subsidiaries.
|Item 3.03||Material Modification to Rights of Security Holders|
The Company has an outstanding class of preferred stock, Series F Convertible Preferred Stock (“Series F Preferred Stock”), that is convertible into shares of the Company’s common stock. The Certificate of Designation of Series F Convertible Preferred Stock (the “Series F Certificate of Designation”) previously provided that shares of Series F Preferred Stock were convertible into common stock by a holder at any time. On August 23, 2021, the Company filed Amendment No. 2 to the Series F Certificate of Designation to provide that shares of Series F Preferred Stock are not convertible into common stock by a holder until (A) August 23, 2023 or (B) the date on which such a conversion may be required for the purpose of (i) uplisting the Company to a new stock exchange, or (ii) selling more than 50% of the Company’s assets.
The foregoing summary of Amendment No. 2 to the Series F Certificate of Designation is not complete and is qualified in its entirety by reference to the full text of the Series F Certificate of Designation, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Unless otherwise indicated, the following exhibits are filed herewith:
|Exhibit No.||Description of Exhibit|
|10.1||Amendment No. 2 to Certificate of Designation of Series F Convertible Preferred Stock of Artificial Intelligence Technology Solutions Inc., dated August 23, 2021|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Dated:||August 23, 2021||ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC.|
|By:||/s/ Steven Reinharz|
|Title:||Chief Executive Officer|