OMT Technologies Inc., a subsidiary of AnalytixInsight, sold in exchange for cancellation of all related debt
VANCOUVER, BRITISH COLUMBIA–(Marketwired – July 31, 2014) – Big data analytics company AnalytixInsight Inc. (the “Company” or “AnalytixInsight”) (TSX VENTURE:ALY) announces that, further to its news release date June 4, 2014, all of the issued and outstanding shares of its wholly owned subsidiary, OMT Technologies Inc. (“OMT”), have been sold in exchange for the forgiveness and cancellation of all debt related to OMT, in accordance with the terms of a share purchase agreement dated June 4, 2014. This successful conclusion of this transaction has made AnalytixInsight completely debt-free, strengthened its balance sheet and will help the Company focus on its core operations.
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 and mobile platform Stockwall provide 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 50,000 global companies and ETFs – 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 and Stockwall have existing business relationships with leading global financial and media institutions. For more information about CapitalCube visit http://www.capitalcube.com. For more information about Stockwall visit http://www.stock-wall.com.
Regulatory Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Transaction and the debt forgiveness. 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 state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight Inc., as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the Company’s technology and revenue generation; risks associated with operation in the technology sector; ability to successfully integrate new technology and employees; foreign operations risks; and other risks inherent in the technology industry. 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. Stetson does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER 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.
For further information relating to AnalytixInsight,
CapitalCube.Com, and Stockwall:
Abha Dawesar
646.435.1561
Kin Communications
Freddie Leigh
604.684.6730
