Marketwire
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 20, 2013) -
NOT FOR ISSUE IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
AnalytixInsight, Inc. (the "Company") (TSX VENTURE:ALY) is proceeding with a non-brokered private placement in which it will raise up to $1,750,000. In connection with the offering, the Company will issue up to 5,468,750 units at a price of $0.32 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.50 for a period of 24 months from the closing of the offering, subject to certain acceleration provisions in the event that the shares of the Company trade at $0.70 or higher for 30 consecutive trading days. The Company may pay a finder's fee to certain eligible persons for introducing subscriptions to the offering.
The funds raised from the offering will be used to build on the success of the Company's mobile enabled platform and launch mobile specific products and services and for general working capital purposes.
AnalytixInsight CEO, Chaith Kondragunta, commented, "We are excited with the progress of our mobile platform. We are poised to partner with leading global companies and provide unique mobile services built around our Capitalcube.Com suite of company analysis products, and we are confident that these joint offerings will be very competitive in the current marketplace. The capital raised will help position the Company to execute at a high level for the growth opportunities ahead of us."
Closing of the financing will be subject to approval of the TSX Venture Exchange.
On behalf of the Board of Directors of ANALYTIXINSIGHT, INC.
Prakash Hariharan, Chairman
ABOUT CAPITALCUBE
CapitalCube, through its online portal www.capitalcube.com, provides 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 45,000 global companies - 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 currently has existing business relationships with leading global financial and media institutions. To find out more about CapitalCube's offerings, visit http://www.capitalcube.com.
CAUTIONARY NOTES
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.