AnalytixInsight, Inc.

March 07, 2014 08:00 ET

AnalytixInsight Announces $4 Million Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 7, 2014) -


AnalytixInsight Inc. (the "Company" or "AnalytixInsight") (TSX VENTURE:ALY) has launched a private placement offering to raise up to CDN$4,000,000 (the "Offering"). The Offering will be comprised of up to 7,272,727 units (the "Units") priced at $0.55 per Unit, each Unit being comprised of one common share in the capital of AnalytixInsight and one-half of one common share purchase warrant of AnalytixInsight (each whole common share purchase warrant, a "Warrant"). Each Warrant shall entitle the holder to acquire one common share of AnalytixInsight at a price of $0.85 and the Warrants will have a term of twelve months from the time of the closing of the Offering. The securities underlying the Units, including the common shares and Warrants issued on closing, as well as the common shares issuable upon due exercise of the Warrants, will all be subject to a four month statutory hold period commencing on the date of issuance.

AnalytixInsight has retained a syndicate led by Global Securities Corporation (the "Agent") to act as agent to help raise CDN$3,500,000 of the Offering on a commercially reasonable basis. The Company will raise CDN$500,000 on a non-brokered basis. The Company will pay the Agents finder's fees in accordance with TSX Venture Exchange policies.

The proceeds from the Offering will be used for general working capital purposes and to help finance potential acquisitions.

The Offering is scheduled to close on or about April 15, 2014 and is subject to certain conditions including, but not limited to, the entering into of definitive engagement agreements with the Agents, completion of satisfactory due diligence investigations by the Agents and receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

On behalf of the Board of Directors of


Prakash Hariharan, Chairman


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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.

This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

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