Breaking Data Corp.
TSX VENTURE : BKD
OTCQB : BKDCF

October 19, 2017 07:30 ET

AI News Start-Up Signs a $2.25 Million USD LOI for Breaking Data's Event Detection Technology and Publishing Platform

TORONTO, ONTARIO and LONDON, UNITED KINGDOM--(Marketwired - Oct. 19, 2017) - Breaking Data Corp. ("Breaking Data" or the "Company") (TSX VENTURE:BKD)(OTCQB:BKDCF) is pleased to announce it has entered into binding Letter of Intent ("LOI") for $2.25 million USD to license and develop its AI technology to an undisclosed start-up media news partner.

Under the terms of the deal, Breaking Data will:

  1. enter into a 3-year software license agreement ("SLA") for $1.75 million USD;
  2. enter into a separate software development and license agreement ("SDLA") for $500,000 USD;
  3. receive a 5% equity share in the start-up venture.

The SLA includes a non-refundable payment of $500,000 USD.

Breaking Data's Artificial Intelligence event detection uses semantic search, machine-learning, neural nets and natural language processing technology to enable powerful event detection and verification. This technology will be used to underpin the AI news start-up.

Breaking Data's technology platform processes global social data in real time and identifies breaking news at the source. It uses sophisticated technology to verify events, flag up and reject fake news and cut through the volume of always-on social content, demonstrating a clear advantage when it comes to verifying breaking news.

The technology enables partners to identify breaking events from around the world as close to real time as possible and monitor sources with geo-location accuracy.

Nick Thain, Chief Executive Officer of Breaking Data said "Breaking Data's world-class tech team has spent years developing a technology platform that uses semantic machine learning and natural language processing to track social media in a fully automated real-time manner. I'm delighted that this partnership will help bring this capability to the news-cycle and ultimately help sort through the world's information to better understand what is happening."

Breaking Data expects to complete the definitive SLA and SDLA within the next 60 days.

About Breaking Data Corp: breakingdatacorp.com

Breaking Data Corp. is a technology provider of a range of Artificial Intelligence services including; semantic search, machine learning and natural language processing ("NLP"). The Company's technology platform has many practical applications, in multiple business and consumer verticals that are immersed in massive media and data rich settings. The Company's showcase app, BreakingSports, utilizes semantic machine learning and NLP to track social media in a fully automated, real-time manner for significant sports information and events and distributes summarized information through real-time push notifications to consumers.

About GIVEMESPORT: givemesport.com

GIVEMESPORT, Breaking Data's recent acquisition, is a leading next generation sports media company with the largest single publisher Facebook page in the world, with over 26.2 million fans. The next largest single sports publisher Facebook page is ESPN with 18.4 million fans. GIVEMESPORT's content generates over 3.6 billion impressions (Feb-17), reaching over 138 million unique users (Feb-17) per month on Facebook alone. Visit GIVEMESPORT's Facebook page at facebook.com/GiveMeSport.

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.

Cautionary and Forward-looking Statements - Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the Company's other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

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