VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 12, 2014) - Big Data and analytics company AnalytixInsight, Inc. (the "Company" or "AnalytixInsight") (TSX VENTURE:ALY) will formally launch the Stockwall mobile App in partnership with Samsung Electronics ("Samsung") on May 28, 2014.
The Stockwall App will debut on the Samsung mobile and smart TV platform and offer real time stock quotes and analytics for EUR5 (approx US$7.50) per month.
In addition, Mr. Marco Roscio Ricon has been appointed as CEO of Stockwall to lead the team to execute on integrating AnalytxInsight content onto Samsung's mobile platform.
Mr. Ricon was most recently head of Desktop and Internet Applications at the London Stock Exchange Group ("LSEG"), where he was responsible for managing web services and internet strategy of the LSEG. At LSEG, Mr. Ricon also created and grew a new business line - Market Connect - into a significant part of the group's operations and was Head of Proquote Italy and UK, the LSEG's information service provider.
Stockwall is the mobile platform that will roll out AnalytixInsight's previously announced partnership with Samsung and offers a unique global solution that combines real-time stock quotes from LSEG with AnalytixInsight's algorithmically generated analysis on stocks. The auto generated content presents a completely different approach to investment ideas across 45,000 plus stocks globally - all at subscription price points around EUR5 (approx US$7.50) per month with real time stock quotes and content powered by Analytixinsight. In addition, the Stockwall platform also provides B2B (business-to business) opportunities to license content to third-party mobile applications.
"I am excited to join AnalytixInsight and lead Stockwall - the next generation market data platform built around tablet and smartphones" said Marco Rosco Ricon. "Our agreement with Samsung provides a unique global solution by combining real-time stock quotes with AnalytixInsight's algorithmically generated content. Samsung is a global leader in mobile devices and this is an excellent partnership for AnalytixInsight to license our content. In addition, we already see many exciting opportunities with institutional customers in Europe to license our mobile solutions."
"We are excited to have Marco join us. Marco's deep knowledge of market data products and experience in growing financial information business in Europe from inception into major operations will help grow Stockwall significantly", said Chaith Kondragunta, CEO of AnalytixInsight.
The Company has also closed the second and final tranche (the "Second Tranche") of its private placement financing (the "Private Placement") announced on March 27, 2014. The Second Tranche was comprised of 80,000 units at a price of $0.45 per unit for gross proceeds of $36,000 with 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 Private Placement has now closed and total gross proceeds raised from both tranches was an aggregate of $1,198,599.55. The proceeds from the financing will be used for general working capital purposes.
All securities issued pursuant to the Second Tranche are subject to a four month hold period following the closing date. Closing of the financing is subject to receipt of regulatory approval, including final TSX Venture Exchange approval.
This press release is not an offering of securities for sale in the United States. The common shares and warrants 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.
The Company, with the close of the Private Placement financing, is fully funded to execute the delivery of all announced licensing deals.
For further information relating to AnalytixInsight please contact Abha Dawesar at (646) 435-1561.
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.
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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.