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Eight Solutions Announces Closing of $1.4 M Private Placement Financing and launches Cumul8 Visual Toolkit
Tuesday, November 7, 2017Company Profile | Follow Company
Vancouver, BC, November 7, 2017--(T-Net)--Eight Solutions Inc. (TSXV:ES) announced that it has recently closed a non-brokered private placement financing of 19,929,072 units at a price of $0.07 per Unit for a total gross proceeds of $1.4 million.
Net proceeds are intended to be used for working capital purposes, including software development, marketing, corporate development and general corporate purposes within the Company.
The Company also announced the launch of the Cumul8 Visual Toolkit which delivers a system for “self-serve analytics” at any level of an organization.
The biggest challenge with the current IOT platforms is the ability to provide an easy and broad way of getting value out of big data. The Visual Toolkit allows users to quickly and easily add and edit Key Performance Indicators (“KPI's”), charts and graphs and live data displays on their home screen dashboard.
Inside this tool kit is the Company's own proprietary Artificial Intelligence (“AI”) system that provides predictive models using the various manufacturing variables.
“This private placement will help us launch our Cumul8 Toolkit and IOT platform” says Rory Armes, CEO, “With the Visual Toolkit being well received by our clients, this financing will enable the Company to aggressively push and advance our Cumul8 products into the market.”
About Eight Solutions
Eight Solutions Inc. is a technology company led by a team of gaming industry veterans. Eight's flagship product is Cumul8, a data analytics and visualization solution. Cumul8 works with any type of data source to help people and companies understand, collaborate, and make better decisions with data. Eight's portfolio also includes an award-winning 3D technology licensed to the film industry and Reelhouse, a unique video-on-demand platform that allows films makers to distribute their content directly to users. For more information, visit www.eightsolutions.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” occur. Although Eight believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For more Information, please contact:
Investor Relations
investor.relations@eightsolutions.com
Suite 100, 138 East 7th Avenue
Vancouver, British Columbia, V5T 1M6
Phone: (604) 669-8885
Fax: (604) 669-8855
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