AnalytixInsight raises CAD $120k through share issuance

AnalytixInsight has successfully closed a non-brokered private placement, resulting in the issuance of 12 million common shares at a rate of CAD $0.01 per share, generating gross proceeds totalling CAD $120,000.

The private placement remains under the pending final acceptance of the TSX Venture Exchange, with the securities subject to a statutory four-month hold period. No finder's fees were incurred in association with the transaction. "The proceeds raised pursuant to the Private Placement will be used for general working capital purposes," a company statement disclosed.

A key aspect of this placement is that none of the securities provided will be registered under the United States Securities Act of 1933. Thus, the securities cannot be offered or sold within the United States unless registered or through an applicable exemption from the 1933 Act's registration requirements.

The company explicitly stated, "This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful."

AnalytixInsight, a data analytics and enterprise software provider, develops and markets cloud-based platforms, offering financial content, company analysis, and stock research solutions to the financial services sector. It currently holds a 49% stake in MarketWall SRL, a fintech solutions developer for financial institutions based in Italy.

Natalie Hirsch, Interim CEO of AnalytixInsight, leads the operations and can be reached for further elaboration regarding the company's activities.

The announcement also included cautionary notes on forward-looking statements, indicating potential uncertainties and risks related to future events and conditions. While the company bases these statements on reasonable expectations and assumptions, it recognizes the inherent risks and uncertainties, including technological, economic, and operational challenges.

The cautionary note advises readers that "the forward-looking statements included in this news release are expressly qualified by this cautionary note." The company commits to no obligation to update these forward-looking statements unless mandated by applicable laws.