AnalytixInsight Announces Board Changes

Rhea-AI Summary

AnalytixInsight Inc. has appointed Scott Gardner as a new director, effective immediately. Gardner, who has been CIO of Torrent Capital Inc. since February 2017, is expected to enhance shareholder value through his financial expertise. This change follows the resignation of Catherine Stretch as a director. Additionally, the Company has granted 765,000 restricted share units and 415,000 stock options to directors and staff, with the latter priced at $0.37 for five years, pending regulatory approval.

Positive

• Appointment of Scott Gardner as a director, expected to bring financial expertise.
• Granting of 765,000 restricted share units and 415,000 stock options, indicating commitment to employee incentive.

Negative

• Resignation of director Catherine Stretch may create uncertainty in governance.

TORONTO--(BUSINESS WIRE)-- AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY; OTCQB: ATIXF), a financial content and enterprise software solutions provider, is pleased to announce today that Scott Gardner has been appointed as a director of the Company, effective immediately.

Mr. Gardner has been the Chief Investment Officer Chief Investment Officer (“CIO”) of Torrent Capital Inc., a Halifax based investment company, (“Torrent”) since its formation in February 2017.

"I am pleased to welcome Scott Gardner to AnalytixInsight’s board of directors," said Prakash Hariharan, Chairman and Chief Executive Officer of AnalytixInsight. "He brings proven financial expertise and business acumen, which we anticipate will help enhance shareholder value."

"I am enthusiastic about the opportunity with AnalytixInsight and the potential to work with both the board and the management team," stated Scott Gardner, CIO of Torrent. "I look forward to working with the team to develop and execute business strategies to capitalize on the Company’s suite of novel fintech products and services. I believe that there is a strong market opportunity for the Company, and I am excited to work with the team to maximize shareholder value."

The appointment of Mr. Gardner follows Catherine Stretch’s resignation as a director of the Company, also effective immediately. The board and management of the Company express their gratitude to Ms. Stretch for her efforts and extensive contributions and wish her well in her future endeavours.

In addition, the Company announced today that, subject to regulatory approval, it has granted 765,000 restricted share units (the “RSUs”) and 415,000 stock options to certain directors, officers and staff of the Company in accordance with the Company’s restricted share unit compensation plan and stock option plan, respectively. The RSUs and options vest immediately. The options may be exercised at a price of $0.37 per option for a period of five years from the date of grant. The common shares underlying the RSUs and options are subject to a four month hold period in accordance with the policies of the TSX Venture Exchange.

ABOUT ANALYTIXINSIGHT

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.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20221020006145/en/

Prakash Hariharan

Chairman and CEO

AnalytixInsight Inc.

Prakash.Hariharan@AnalytixInsight.com

Source: AnalytixInsight Inc.

FAQ

What recent changes occurred in AnalytixInsight's board of directors?

Scott Gardner has been appointed as a director, while Catherine Stretch has resigned.

What is the significance of Scott Gardner's appointment for ATIXF?

His financial expertise is expected to enhance shareholder value and contribute to business strategy.

What stock options were granted by AnalytixInsight?

The Company granted 415,000 stock options at $0.37, valid for five years, along with 765,000 restricted share units.

What is the expected impact of the new director on AnalytixInsight?

Scott Gardner's background may help the Company capitalize on market opportunities and improve shareholder value.