/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE UNITED
STATES./
TORONTO, June 9, 2021 /CNW/ - AnalytixInsight Inc.
("AnalytixInsight" or the "Company")
(TSXV: ALY), announced today that it has filed a preliminary
short form prospectus with the securities regulatory authorities in
each of the provinces of Canada
(other than Quebec) in connection
with an overnight marketed offering (the "Offering") of
units of the Company (the "Units") through a syndicate of
underwriters co-led by Canaccord Genuity Corp. and Cantor
Fitzgerald Canada Corporation, acting as the co-lead underwriters
and joint bookrunners, and including Roth Canada, ULC
(collectively, the "Underwriters"). Each Unit will consist
of one common share of the Company (a "Common Share") and
one half of one Common Share purchase warrant (each whole warrant,
a "Warrant"). Each Warrant will entitle its holder to
purchase one Common Share for a period of 36 months following
closing of the Offering, subject to acceleration in certain
circumstances.
The number of Units to be distributed under the Offering, the
issue price per Unit (the "Issue Price"), the exercise price
of the Warrants and other final terms of the Offering will be
determined by AnalytixInsight and the Underwriters upon the pricing
of the Offering, at the time of entering into an underwriting
agreement for the Offering. AnalytixInsight will update the market
and issue a press release announcing the number of Units to be
distributed under the Offering as well as the Issue Price once such
terms have been determined.
It is expected that the Underwriters will be granted an option,
exercisable at any time up to 30 days following the closing of the
Offering, to purchase at the Issue Price up to an additional 15% of
the Units sold pursuant to the Offering.
The Offering is expected to close on or about June 30 2021. Completion of the Offering will be
subject to certain customary conditions including, but not limited
to, the receipt of all necessary regulatory approvals, including
the approval of the TSX Venture Exchange.
The net proceeds from the Offering are expected to be used for
digital stock trading platform development and North American
deployment of MarketWall products, acquiring servers and data for
the implementation of real time stock quotations, administrative
expenses and for general corporate working capital.
The Offering is subject to market conditions, and there can be
no assurance as to whether or when the Offering may be completed,
or as to the actual size or terms of the Offering.
The securities described herein have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, or any state securities laws and may not be offered or
sold in the United States or to
U.S. persons absent registration or an applicable exemption from
the registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
A preliminary short form prospectus containing important
information relating to the Units has been filed with securities
regulatory authorities in each of the provinces of Canada other than Quebec. The preliminary short form prospectus
is subject to completion or amendment. Copies of the preliminary
short form prospectus may be obtained from the Underwriters via
email at ecm@cgf.com or ecmcanada@cantor.com. A copy of the
preliminary short form prospectus can also be obtained under the
corporate profile of AnalytixInsight on SEDAR at www.sedar.com.
There will not be any sale or any acceptance of an offer to buy the
Units until a receipt for the final short form prospectus has been
issued.
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight Inc. is an Artificial Intelligence,
machine-learning company. AnalytixInsight's financial analytics
platform CapitalCube.com algorithmically analyzes market price data
and regulatory filings to create insightful actionable narratives
and research on approximately 50,000 global companies and ETFs,
providing high-quality financial research and content for
investors, information providers, finance portals and media.
AnalytixInsight also designs and implements Workforce Optimization
solutions for large global enterprises. AnalytixInsight holds a 49%
interest in MarketWall, a developer of FinTech solutions for
financial institutions. For more information, visit
AnalytixInsight.com.
NOTICE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" or
"forward-looking statements" within the meaning of applicable
securities legislation. Forward-looking information includes,
without limitation, statements regarding the proposed Offering, and
the terms, pricing and the announcement thereof; the expected
timing of closing of the Offering; the grant of the over-allotment
option; the use of the net proceeds of the Offering; and the filing
of and obtaining of a receipt for a preliminary short form
prospectus, a final short form prospectus or any amendments
thereof. Generally, forward-looking information can be identified
by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved".
We have made certain assumptions about the forward-looking
information and statements, including assumptions about: suitable
market conditions; the use of proceeds of the Offering; the timing
of the closing of the Offering; and the Company's ability to obtain
the necessary consents to closing, including a receipt for a final
prospectus and TSX Venture Exchange approval. Even though our
management believes that the assumptions made and the expectations
represented by such statements or information are reasonable, there
can be no assurance that the forward-looking information or
statement will prove to be accurate. Many assumptions may be
difficult to predict and are beyond our control.
Forward-looking information and statements are also subject to
known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or
achievements of AnalytixInsight, as the case may be, to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: the
inability to meet the conditions to closing, including receipt of
all necessary approvals; risk of the termination of the Offering;
the inability to complete the Offering; general business, economic,
competitive, geopolitical and social uncertainties; the Company's
technology and revenue generation; risks associated with operation
in the technology sector; the ability to successfully integrate new
technologies and employees; foreign operations risks; and other
risks inherent in the technology industry.
We refer potential investors to the "Risk Factors" section of
the annual information form of AnalytixInsight dated May 14, 2021 and the preliminary short form
prospectus, which are available under AnalytixInsight's profile on
SEDAR at www.sedar.com, for additional risks regarding
AnalytixInsight.
Although AnalytixInsight has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking information or statements. AnalytixInsight does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
NEITHER THE 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
SOURCE AnalytixInsight Inc.