VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 25, 2014) -
NOT FOR ISSUE IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES NEWS RELEASE
AnalytixInsight Inc. (the "Company") (TSX VENTURE:ALY) is pleased to announce that it has completed the first tranche of its previously announced private placement financing for gross proceeds of $1,162,599.75. Pursuant to the closing of the first tranche, the Company has issued and sold 2,583,555 units at a price of $0.45 per unit, each unit consisting of one common share and one-half of one share purchase warrant, each whole warrant entitling the holder thereof to acquire one additional common share of the Company at a price of $0.70 per share for a period of 12 months. The proceeds from the financing will be used for general working capital purposes and to help finance potential acquisitions.
In connection with the closing of the first tranche financing, the Company has paid finder's fees of $47,731.26 and has issued 106,069 finder's warrants to finders who introduced subscribers to the Company. The finder's warrants have the same terms as the warrants forming part of the units. All securities issued in connection with the offering are subject to a hold period expiring on August 25, 2014.
Closing of the financing is subject to receipt of regulatory approval, including final TSX Venture Exchange approval. The Company has received conditional approval for up to $2.5 million and anticipates closing the second tranche on or before May 9, 2014.
This press release is not an offering of securities for sale in the United States. The common shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of that Act.
For further information relating to AnalytixInsight and CapitalCube.Com, please contact Abha Dawesar at 1-917-345-7069.
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 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.