/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
TORONTO, June 10, 2021 /CNW/ - AnalytixInsight Inc.
("AnalytixInsight" or the "Company")
(TSXV: ALY), is pleased to announce the pricing of its
previously-announced overnight marketed public offering (the
"Offering") and that it has entered today into an
underwriting agreement (the "Underwriting Agreement") with a
syndicate of underwriters 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"), to
sell 11,500,000 units of AnalytixInsight (the
"Units") at a price of $0.70 per Unit ("Issue Price") for
aggregate gross proceeds of $8,050,000, exclusive of the Over-Allotment
Option described below.
Each Unit consists of one common share of AnalytixInsight (a
"Common Share") and one-half of a common share purchase
warrant (each whole warrant, a "Warrant"). Each whole
Warrant entitles its holder to purchase one common share of
AnalytixInsight at a price of $ 0.90
for a period of 36 months following closing of the Offering,
provided that if, at any time following the closing of the
Offering, the volume weighted average share price of the Common
Shares on the TSX Venture Exchange is greater than $1.80 per Common Share for a period of 10
consecutive trading days, AnalytixInsight shall have the right,
within 10 business days of the occurrence of such event, to
accelerate the expiry date of the warrant by giving notice to the
holders of the Warrants, and issuing a concurrent press release, of
the acceleration of the expiry date to a date that is at least 30
trading days following the date of written notice to
warrantholders.
AnalytixInsight has also granted the Underwriters an option to
purchase up to an additional 1,725,000 Units under the
Offering at the Issue Price, exercisable in whole or in part at the
sole discretion of the Underwriters, at any time up to thirty (30)
days after the closing date (the "Over-Allotment Option"),
for additional gross proceeds of up to $1,207,500.
AnalytixInsight will file today an amended and restated
preliminary short form prospectus in each of the provinces of
Canada (other than Quebec) amending and restating the preliminary
short form prospectus filed on June 9,
2021 to reflect the terms of the Offering. There will not be
any sale of Units until a receipt for the final short form
prospectus has been issued. 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 working capital purposes, as it will be
further described in the amended and restated preliminary short
form prospectus.
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.
An amended and restated preliminary short form prospectus
containing important information relating to the Units will be
filed with the securities regulatory authorities in each of the
provinces of Canada (other than
Quebec). The amended and restated
preliminary short form prospectus will be subject to completion or
amendment. Copies of the amended and restated preliminary short
form prospectus relating to the Offering, when available, may be
obtained from the Underwriters via email at ecm@cgf.com or
ecmcanada@cantor.com. A copy of the amended and restated
preliminary short form prospectus can also be obtained, following
filing thereof, 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, the
expected timing of closing of the Offering; any exercise of the
Over-Allotment Option, and timing thereof; the use of the net
proceeds of the Offering; and the filing of and obtaining receipt
for an amended and restated preliminary and a final short form
prospectus. 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: 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 and the amended
and restated 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.