Toronto, Ontario--(Newsfile Corp. - January 21, 2025) - AnalytixInsight Inc. (TSXV: ALY) (OTCQB: ATIXF) ("AnalytixInsight", or the "Company") is pleased to announce that, subject to regulatory approval, it has agreed to settle a total of C$316,881.4 of accrued directors' fees and consulting fees owed to certain directors and arms-length consultants of the Company (the "Creditors"). The Company will settle the accrued fees by issuing a total of 7,041,809 Common Shares at a price of C$0.045 per Common Share to the Creditors (the "Shares for Debt").
The Shares for Debt is intended to improve the financial condition of the Company. No new Control Persons (as defined under the applicable policies of the TSX Venture Exchange) will be created pursuant to the Shares for Debt transaction, and the consultants are all arm's length parties to the Company. The Shares for Debt is subject to TSX Venture Exchange approval. The common shares issued pursuant to the Shares for Debt will be subject to a statutory four-month hold period from the date of issuance.
The Shares for Debt with each of the certain directors will be a "related party transaction" under Policy 5.9 of the TSX Venture Exchange and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Security Based Compensation with each of these individuals is exempt from the minority approval and formal valuation requirements of MI 61-101 pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the debt, nor the fair market value of the shares to be issued in settlement of the debt, exceeds 25% of the Company's market capitalization.
ABOUT ANALYTIXINSIGHT
AnalytixInsight is a data analytics and enterprise software solutions provider. AnalytixInsight develops and markets cloud-based platforms providing financial content, company analysis and stock research solutions to the financial services industry. AnalytixInsight holds a 49% interest in MarketWall S.R.L., a developer of fintech solutions for financial institutions in Italy.
CONTACT INFORMATION:
Natalie Hirsch
Interim CEO
AnalytixInsight Inc.
natalie.hirsch@analytixinsight.com
Tel: 647-955-2933
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.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release constitute "forward-looking information" within the meaning of applicable securities laws and the respective policies, regulations and rules under such laws ("forward-looking statements"). These forward-looking statements generally are identified by words such as "anticipate", "expect", "intend", "will" and similar expressions, although not all forward-looking statements contain these identifying words. Specific forward-looking statements in this news release include, but are not limited to, the Shares for debt transaction with certain individuals and Exchange acceptance of the Shares for Debt. Although the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this news release including, without limitation, general business, economic, competitive, geopolitical and social uncertainties; the Company's technology and revenue generation; risks associated with operation in the technology sector; the Company's ability to successfully develop a go-forward strategy, raise capital, and extract value from MarketWall; foreign operations risks; the risk that funding options are not available to the Company, on reasonable terms or at all, to address its funding needs; the receipt of necessary regulatory, court, and corporate approvals to pursue funding options; the risk that the previously disclosed court-ordered inspector may uncover unexpected issues and/or the investigation may not be completed in a timely manner or at all, the risk that the issues to be addressed by the previously disclosed interim orders and the court-ordered inspector are not resolved in a timely manner or at all, and other risks inherent in the technology industry. Additionally, there are uncertainties inherent in forward-looking information, including factors beyond the Company's control. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary note. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
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SOURCE: AnalytixInsight Inc.
