TORONTO, May 09, 2018 (GLOBE NEWSWIRE) -- Artificial Intelligence company, AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V:ALY) (OTCQB:ATIXF) has joined “The Floor”, a global Fintech innovation center based in Tel Aviv. As a member, AnalytixInsight will access, and contribute to, the unique community of partners and industry innovators within the financial services market, further strengthening its strategic offerings with Fintech leaders worldwide.
The Floor (TheFloorHub.com) is an Israeli Fintech hub that was founded in collaboration with four of the world’s largest banks: HSBC, Santander, RBS and Intesa SanPaolo. The Floor is located at the Tel Aviv Stock Exchange building and is working to shape the bank of the future with exceptional Fintech solutions. Fintech investment in Israel has grown dramatically, positioning Tel Aviv as one of the world’s leading Fintech centers with over 500 Fintech startups and $650 million in accumulated Fintech VC funds.
Avi Cohen, Co-founder & CEO of The Floor, commented: “We are pleased to welcome AnalytixInsight to The Floor. We believe that just like Google and Amazon led the digital Internet wave, banks today are leading change that is as revolutionary as the Internet was 20 years ago, with innovation in payments, artificial intelligence, blockchain, and trading. AnalytixInsight is already a contributor within this wave and we look forward to working together with them.”
Prakash Hariharan, President & CEO, commented: “Being a member of The Floor allows us to showcase our offerings and expertise to those who are revolutionizing the industry, and positions us within the ecosystem of thought leaders in technology innovation. We already have data modelling experts located in Tel Aviv, who will now collaborate with other members of The Floor to expand our machine-learning capabilities and develop new offerings.”
In connection with this initiative, the Company has granted a total of 250,000 stock options to The Floor pursuant to its stock option plan. The options vest on May 8, 2020 and have an exercise price of $0.38 per option for a period of five years from the date of grant. The Company has also agreed to grant The Floor an additional tranche of 250,000 options on January 1, 2019 and a final tranche of 180,000 stock options on January 1, 2020, with vesting terms of 12 months and 6 months from such grant dates, respectively. The price of the options in these latter tranches will be the closing price of the Company’s shares on the respective grant dates. The grant of options remains subject to the approval of the TSX Venture Exchange.
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ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight’s (AnalytixInsight.com) artificial intelligence platform transforms data into knowledge. AnalytixInsight’s online portal CapitalCube (capitalcube.com) algorithmically analyzes market price data and regulatory filings to create insightful, actionable narratives and research on over 50,000 global companies and ETFs, providing high-quality financial research and content for investors, information providers, finance portals and media. AnalytixInsight holds a 49% interest in Marketwall, a mobile platform for banking and stock trading (marketwallcorporate.com). AnalytixInsight owns Euclides Technologies Inc. (euclidestech.com), a workflow analytics systems integrator.
AnalytixInsight is a 2018 Venture 50™ company (tsx.com/venture50).
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the growth of the Company’s business operations; the impact of joining The Floor and the Company’s future performance. 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. AnalytixInsight 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.