AnalytixInsight Inc. Announces Pricing of Overnight Marketed Equity Offering

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, June 10, 2021 /CNW/ - AnalytixInsight Inc. ("AnalytixInsight" or the "Company") (TSXV: ALY), is pleased to announce the pricing of its previously-announced overnight marketed public offering (the "Offering") and that it has entered today into an underwriting agreement (the "Underwriting Agreement") with a syndicate of underwriters led by Canaccord Genuity Corp. and Cantor Fitzgerald Canada Corporation, acting as the co-lead underwriters and joint bookrunners, and including Roth Canada, ULC (collectively, the "Underwriters"), to sell 11,500,000 units of AnalytixInsight (the "Units") at a price of $0.70 per Unit ("Issue Price") for aggregate gross proceeds of $8,050,000, exclusive of the Over-Allotment Option described below.

Each Unit consists of one common share of AnalytixInsight (a "Common Share") and one-half of a common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles its holder to purchase one common share of AnalytixInsight at a price of $ 0.90 for a period of 36 months following closing of the Offering, provided that if, at any time following the closing of the Offering, the volume weighted average share price of the Common Shares on the TSX Venture Exchange is greater than $1.80 per Common Share for a period of 10 consecutive trading days, AnalytixInsight shall have the right, within 10 business days of the occurrence of such event, to accelerate the expiry date of the warrant by giving notice to the holders of the Warrants, and issuing a concurrent press release, of the acceleration of the expiry date to a date that is at least 30 trading days following the date of written notice to warrantholders.

AnalytixInsight has also granted the Underwriters an option to purchase up to an additional 1,725,000 Units under the Offering at the Issue Price, exercisable in whole or in part at the sole discretion of the Underwriters, at any time up to thirty (30) days after the closing date (the "Over-Allotment Option"), for additional gross proceeds of up to $1,207,500.

AnalytixInsight will file today an amended and restated preliminary short form prospectus in each of the provinces of Canada (other than Quebec) amending and restating the preliminary short form prospectus filed on June 9, 2021 to reflect the terms of the Offering. There will not be any sale of Units until a receipt for the final short form prospectus has been issued. The Offering is expected to close on or about June 30, 2021. Completion of the Offering will be subject to certain customary conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

The net proceeds from the Offering are expected to be used for digital stock trading platform development and North American deployment of MarketWall products, acquiring servers and data for the implementation of real time stock quotations, administrative expenses and for general working capital purposes, as it will be further described in the amended and restated preliminary short form prospectus.

The securities described herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

An amended and restated preliminary short form prospectus containing important information relating to the Units will be filed with the securities regulatory authorities in each of the provinces of Canada (other than Quebec). The amended and restated preliminary short form prospectus will be subject to completion or amendment. Copies of the amended and restated preliminary short form prospectus relating to the Offering, when available, may be obtained from the Underwriters via email at [email protected] or [email protected]. A copy of the amended and restated preliminary short form prospectus can also be obtained, following filing thereof, under the corporate profile of AnalytixInsight on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the Units until a receipt for the final short form prospectus has been issued.

ABOUT ANALYTIXINSIGHT INC.

AnalytixInsight Inc. is an Artificial Intelligence, machine-learning company. AnalytixInsight's financial analytics platform CapitalCube.com algorithmically analyzes market price data and regulatory filings to create insightful actionable narratives and research on approximately 50,000 global companies and ETFs, providing high-quality financial research and content for investors, information providers, finance portals and media. AnalytixInsight also designs and implements Workforce Optimization solutions for large global enterprises. AnalytixInsight holds a 49% interest in MarketWall, a developer of FinTech solutions for financial institutions. For more information, visit AnalytixInsight.com.

NOTICE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking information includes, without limitation, statements regarding the proposed Offering, the expected timing of closing of the Offering; any exercise of the Over-Allotment Option, and timing thereof; the use of the net proceeds of the Offering; and the filing of and obtaining receipt for an amended and restated preliminary and a final short form prospectus. 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".

We have made certain assumptions about the forward-looking information and statements, including assumptions about: the use of proceeds of the Offering; the timing of the closing of the Offering; and the Company's ability to obtain the necessary consents to closing, including a receipt for a final prospectus and TSX Venture Exchange approval. Even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking information or statement will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.

Forward-looking information and statements are also subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the inability to meet the conditions to closing, including receipt of all necessary approvals; risk of the termination of the Offering; the inability to complete the Offering; general business, economic, competitive, geopolitical and social uncertainties; the Company's technology and revenue generation; risks associated with operation in the technology sector; the ability to successfully integrate new technologies and employees; foreign operations risks; and other risks inherent in the technology industry.

We refer potential investors to the "Risk Factors" section of the annual information form of AnalytixInsight dated May 14, 2021 and the preliminary and the amended and restated short form prospectus, which are available under AnalytixInsight's profile on SEDAR at www.sedar.com, for additional risks regarding AnalytixInsight.

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 or statements. 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

SOURCE AnalytixInsight Inc.

Scott Urquhart, VP Corporate Development, [email protected], Tel: [phone]