AnalytixInsight Closes C$1.6 Million in Private Placement

AnalytixInsight (TSXV:ALY), artificial intelligence company focused on the financial services industry announced that it has closed C$1.6 million in private placement financing. As part of the offering, AnalytixInsight sold units for C$0.40, which granted the purchaser one common share and half of a common share purchase warrant. Exercisable until June 25, 2022, the warrants grant the unit holder to purchase a common share at a price of C$0.65.

As quoted in the press release:

The Offering was increased from $1,300,000 to $1,600,000 as a result of higher demand. The Company has issued 4,000,000 units (the “Units”) at a price of $0.40 per Unit for gross proceeds of $1,600,000. Each Unit is comprised of one common share of the Company (a “Common Share”) and one half of one Common Share purchase warrant (each a “Warrant”). Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.65 at any time prior to June 25, 2022. The proceeds of the Offering will be used for growth initiatives and general corporate purposes.

In connection with the Offering, AnalytixInsight paid finder’s fees of $72,000 in cash and issued 180,000 non-transferable finder’s warrants (“Finder’s Warrants”). Each Finder’s Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.65 at any time prior to June 25, 2022.

Click here to read the full press release.