AnalytixInsight Provides Corporate Update and Announces $1,700,000 Non Brokered Private Placement Financing
TORONTO, ON--(Marketwired - March 18, 2015) - AnalytixInsight Inc. (TSX VENTURE:ALY)
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
- Company announces scaling up of projects with one of the world's largest financial portals
- Company continue to expand the scale and scope of its B2B initiatives as well as analytical tools for mobile payments
- Company announces rollout of its unique product offerings for stock exchanges globally
- Company's mobile offering successfully integrated with Morningstar data and positioned for launch in North America
- Company announces non brokered private placement financing
Big data analytics company AnalytixInsight Inc. (the "Company" or "AnalytixInsight") (TSX VENTURE:ALY) announces the launch and scaling up of exciting B2B (business to business) projects through its CapitalCube portal.
- CapitalCube is scaling up a licensing initiative to provide unique analytics driven news and financial headlines to one of the world's largest financial portals. This is in addition to the previously announced contracts with Dow Jones & Co and AOL Inc.
- CapitalCube is also successfully concluding pilot engagements and is poised to provide value-added analytics content to stock exchanges globally as part of its ongoing B2B initiatives
- The Company is pleased to announce the successful integration of the previously announced partnership between its mobile offering MarketWall with Morningstar Inc. As a result, Marketwall now carries real-time quotes on US listed stocks and is positioned to shortly launch in the North America.
These initiatives are in addition to the announcements dated February 25, 2015 related to developing products and analytical solutions for mobile payments. The Company is in discussions with with mobile payment systems and merchants to provide better analytics, business intelligence and decision making tools for the fast growing mobile financial services app community.
As a part of the ongoing expansion plans, the Company has also launched a non brokered private placement offering to raise up to CDN$1,700,000 (the "Offering"). The Offering will be comprised of up to 5,312,500 units (the "Units") priced at $0.32 per Unit, each Unit being comprised of one common share in the capital of AnalytixInsight and one-half of one common share purchase warrant of AnalytixInsight (each whole common share purchase warrant, a "Warrant"). Each Warrant shall entitle the holder to acquire one common share of AnalytixInsight at a price of $0.50 and the Warrants will have a term of twelve months from the time of the closing of the Offering. The securities underlying the Units, including the common shares and Warrants issued on closing, as well as the common shares issuable upon due exercise of the Warrants, will all be subject to a four month statutory hold period commencing on the date of issuance. The Company may pay finder's fees in accordance with TSX Venture Exchange policies.
The proceeds from the Offering will be used for general working capital purposes, the ongoing rollout of Marketwall and for the execution of various B2B projects including the scale up of an ongoing content licensing initiative with one the world's largest finance portals, as well as projects with various stock exchanges.
The Offering is scheduled to close on or about March 31, 2015 and is subject to certain conditions including, but not limited to, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
On behalf of the Board of Directors of
ANALYTIXINSIGHT INC.
Prakash Hariharan, Chairman
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight Inc.'s technology platform helps transform data into narratives. The Company's online portal www.capitalcube.com and mobile platform Marketwall (www.marketwall.com) provide high-quality financial research and content for investors, information providers, finance portals and media. The Company's disruptive technology algorithmically analyzes market price data and regulatory filings to create insightful, actionable narratives and research on approximately 50,000 global companies and ETFs - all available as a cloud-based, SAAS offering. This platform capability is extensible to other asset classes and sectors to generate insightful research reports.
CapitalCube and Marketwall have existing business relationships with leading global financial and media institutions. For more information about CapitalCube visit https://www.capitalcube.com. For more information about Marketwall visit https://www.marketwall.com.