AnalytixInsight Provides an Additional Update on MarketWall

TORONTO, ON – March 22, 2024 – AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY), a data analytics and enterprise software solutions provider, today provides another update on certain matters respecting MarketWall S.R.L. ("MarketWall”), an Italian fintech solutions company, in which AnalytixInsight holds a 49% equity interest. Intesa Sanpaolo (“ISP”) holds a 33% equity interest in MarketWall, with the remaining 18% equity interest held by Phoenix S.R.L. (“Phoenix”), a private Italian Company that is controlled by MarketWall’s chief executive officer, Marco Roscio.

On March 21, 2024, the Company’s interim president and chief executive officer, Natalie Hirsch, attended a board meeting of MarketWall (the “MW Board”), at which Ms. Hirsch anticipated that she would be recommended to fill the vacancy left by Prakash Hariharan on the board of InvestoPro S.I.M. (“InvestoPro”), MarketWall’s wholly owned subsidiary. However, Ms. Hirsch was advised at the meeting that the board of InvestoPro had held a meeting earlier in the day at which a decision had been made that the board could continue to function without filling the vacant board seat. ISP’s and Phoenix’s members of the MW Board, constituting a majority, voted in favour of a motion to ratify the decision that the InvestoPro board remain at four members; Ms. Hirsch voted against the motion. As part of Ms. Hirsch’s request to be considered for the InvestoPro board, the Company obtained an Italian legal opinion confirming that she had all of the requisite professional qualifications for the position, however, the opinion was not even considered. As MarketWall’s largest shareholder, a member of AnalytixInsight’s board has historically always held such a position at InvestoPro.

In addition, a majority of the members of the MW Board opposed Ms. Hirsch’s motion to resolve to pay AnalytixInsight a distribution from MarketWall’s extraordinary reserves. Ms. Hirsch noted that MarketWall had been profitable in 2023 and that a payment of approximately C$2m had been made to the Company from MarketWall’s 2022 extraordinary reserves when the company had been operating at a (consolidated) loss. Prior to receiving the aforementioned payment from MarketWall, the Company and ISP had together made a capital contribution to MarketWall in the amount of approximately C$3.5 million, with AnalytixInsight and ISP contributing approximately C$2.1 million and C$1.4 million, respectively. Phoenix did not make any contributions of note at the time, although it too received a payment of approximately C$750,000 from MarketWall’s 2022 extraordinary reserves.

Hirsch commented, “As a founding shareholder of MarketWall and its largest shareholder, it seems obvious that AnalytixInsight ought to have a right to a board seat on any of its subsidiaries to ensure our interests are properly represented. Our team is committed to deriving value from our investment in MarketWall, however, we remain disappointed in InvestoPro’s performance. As of February 2024, the InvestoPro platform had fewer than 1000 active users.”

Contact Information:
Natalie Hirsch
Interim CEO
(647) 955-2933
natalie.hirsch@analytixinsight.com

About AnalytixInsight Inc.
AnalytixInsight is a data analytics and enterprise software solutions provider. AnalytixInsight develops and markets cloud-based platforms providing financial content, company analysis and stock research solutions to the financial services industry. AnalytixInsight holds a 49% interest in MarketWall S.R.L., a developer of fintech solutions for financial institutions in Italy.

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 Company’s plans to evaluate and derive value from its investment in MarketWall. 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 statements 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 and its subsidiaries, and MarketWall and InvestoPro, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to minority investments in foreign companies and 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 THE 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