2022-11-25 13:30:00

infinitii ai AGSM reviews corporate trajectory to multi-product portfolio and announces new Equity Incentive Plan

Logo PR Newswire
PR Newswire

VANCOUVER, BC, Nov. 25, 2022 /CNW/ - infinitii ai inc. ("infinitii ai" or the "Company") (CSE: IAI) (FSE: 7C5) (OTC: CDTAF), a leader in AI-driven predictive analytics software for Smart City water and Smart Industry infrastructure applications that rely on time-series data, held its Annual General and Special Meeting ("AGSM") of shareholders yesterday. The Company summarized its corporate transformation, and received shareholder approval on its new Equity Incentive Plan. A complete set of June 30, 2022 Consolidated Financial Statements and Management's Discussion & Analysis for FY – 2022 was released on Oct. 24 and has been filed at www.sedar.com.

Trusted since 2014 to provide environmental monitoring to many of the largest water infrastructure utilities in the U.S. and Canada, infinitii ai has evolved into a leader in AI-driven predictive analytics for industrial and Smart City infrastructure applications that rely on time-series data. The Company services customers via a trusted partner network that includes engineering and IT services companies like AECOM, Core & Main, Kerr Wood Leidal Associates Ltd., K2 Geospatial and CSL Services Inc.

Management commentary and forward-looking statements

"In fiscal year 2022 infinitii ai won sizeable new sales contracts with Los Angeles County and Miami-Dade County. These combined with renewals by all of our major Smart City customers increased monthly revenue from contracted and subscription customers by 46%," said Jean Charles Phaneuf, CEO of infinitii ai. "We are well positioned with a new corporate brand that is a foundation for the infinitii dataworks platform – the Machine Learning technology base for a product portfolio of 15 well branded, clearly differentiated products that cater to our target markets."

"In our current fiscal year we are focused on adding new reseller partners and developing a channel-oriented go-to-market strategy," continued Phaneuf. "Our goal is higher revenue per sale, more Smart City and Smart Industry customers, and achieving increased growth as well as profitability."

Equity Incentive Plan

The Company did not grant any stock options in fiscal year 2022. On Nov. 24 the shareholders approved a new Equity Incentive Plan (the "2022 Plan").

The 2022 Plan provides flexibility to the Company to grant equity-based incentive awards in the form of options, restricted share units, performance share units and deferred share units with the purpose of attracting and retaining skilled employees and senior managers. The 2022 Plan is a rolling plan which provides that the aggregate maximum number of shares that may be issued upon the exercise or settlement of awards granted under the 2022 Plan shall not exceed 20% of the Company's issued and outstanding shares from time to time. The 2022 Plan is considered an "evergreen" plan, since the shares covered by awards which have been exercised, settled or terminated shall be available for subsequent grants under the 2022 Plan and the number of awards available to grant increases as the number of issued and outstanding shares increases.

The extent to which any such individual is entitled to receive a grant of an award pursuant to the 2022 Plan will be determined by the Board of Directors of the Company. Further detail on the 2022 Plan has been filed at www.sedar.com.

About infinitii ai inc.

Trusted since 2014 to provide environmental monitoring to many of the largest water infrastructure utilities in the U.S. and Canada, infinitii ai (formerly Carl Data Solutions Inc.) has evolved into a leader in AI-driven predictive analytics Smart City water and Smart Industry infrastructure applications that rely on time-series data. The Company services customers via a trusted partner network that includes engineering and IT services companies like AECOM, Core & Main, Kerr Wood Leidal Associates Ltd., K2 Geospatial and CSL Services Inc.

infinitii ai software performs real-time analysis, checks flow monitoring status, sets alarms through a single interface, accepts all types of data from any source and offers predictive (what will happen) and prescriptive (what should happen) analytics. Whether it's real-time, historic, wireless, satellite, SCADA or public data sets including USGS, NOAA and weather forecasts – it doesn't matter where the data originates, infinitii ai transforms raw data into actionable information. Visit www.infinitii.ai to learn more.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

Forward-looking statements

This press 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" or "will" occur. Forward-looking information is based on certain key expectations and assumptions made by the management of infinitii ai, including the expectation of future revenue growth. Although infinitii ai believes that the expectations and assumptions upon which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because infinitii ai can provide no assurance that they will prove to be correct. Any forward-looking statements contained in this press release are made as of the date of this press release. infinitii ai disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.

SOURCE infinitii ai inc.

Logo PR Newswire
TEL AVIV, Israel, Nov. 24, 2022 /PRNewswire/ -- Israel Corporation Ltd. (TASE: ILCO) ("IC") announced today its third quarter results for the period ending...

Logo Nasdaq
TechnologyBy Zacks2022-11-24 16:31:13
A month has gone by since the last earnings report for Invesco (IVZ). Shares have added about 27.9% in that time frame, outperforming the S&P 500. Will...

Logo Nasdaq
TechnologyBy Zacks2022-11-25 11:20:05
Designed to provide broad exposure to the Technology - Broad segment of the equity market, the iShares Expanded Tech Sector ETF (IGM) is a passively managed...

Logo Nasdaq
TechnologyBy Zacks2022-11-25 11:20:07
If you're interested in broad exposure to the Large Cap Growth segment of the US equity market, look no further than the iShares Russell Top 200 Growth ETF...

Logo PR Newswire
TechnologyPress Release2022-11-25 02:45:00
Paiman Allage, CEO of Aries TCO (ariestco.com), and CTO of Advanced IT Labs (advanceditlabs.com), Aries focuses on building enterprise business platforms and...

Logo Benzinga
Business / FinanceBy Pr Newswire2022-11-25 02:45:00
Paiman Allage, CEO of Aries TCO (ariestco.com), and CTO of Advanced IT Labs (advanceditlabs.com), Aries focuses on building enterprise business platforms and...

Logo Benzinga
Business / FinanceBy Benzinga Insights2022-11-24 14:48:41
According to Benzinga Pro data, during Q3, Upland Software UPLD posted sales of $79.55 million. Earnings were up 60.27%, but Upland Software still reported...

Logo Channel NewsAsia
Business / FinanceBy Davina Tham2022-11-24 22:05:18
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide SINGAPORE: Up...

Logo Benzinga
Business / FinanceBy Business Wire2022-11-24 21:05:00
Arcus Biosciences, Inc. RCUS, an oncology-focused biopharmaceutical company working to create best-in-class cancer therapies, today announced that the...

Logo PR Newswire
VANCOUVER, BC, Nov. 24, 2022 /CNW/ - Trading resumes in: Company: Whitewater Acquisition Corp. TSX-Venture Symbol: WWA.P All Issues: Yes Resumption (ET):...

Logo Benzinga
Business / FinanceBy Benzinga Insights2022-11-24 14:49:03
According to Benzinga Pro, during Q3, ICF International ICFI earned $19.11 million, a 3.85% increase from the preceding quarter. ICF International also...

Logo PR Newswire
JACKSONVILLE, Fla. and VANCOUVER, BC, Nov. 24, 2022 /CNW/ - Today, Riverstyx Capital Management, LLC and LM Asset Fund Limited Partnership announced that a...

Logo Nasdaq
Business / FinanceBy Finsum2022-11-25 11:00:51
As the demand for standardized and transparent ESG disclosure rules continues to grow, a group of alternative asset managers launched a template for ESG...

Logo PR Newswire
HealthPress Release2022-11-25 11:30:00
BEIJING, Nov. 25, 2022 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), a healthcare provider...

Logo Benzinga
Business / FinanceBy Business Wire2022-11-23 21:15:00
ICON plc, ICLR a world-leading healthcare intelligence and clinical research organisation, today announced that Mr. Brendan Brennan, CFO of ICON plc, will...

Logo PR Newswire
VANCOUVER, BC, Nov. 24, 2022 /CNW/ - Trading resumes in: Company: Mich Resources Ltd. (FORMERLY: Mich Resources Ltd.) CSE Symbol: MICH.X (FORMERLY: MICH)...

Logo Nasdaq
TechnologyBy Zacks2022-11-25 11:20:05
The iShares Core S&P 500 ETF (IVV) was launched on 05/15/2000, and is a passively managed exchange traded fund designed to offer broad exposure to the...

Logo Nasdaq
TechnologyBy Zacks2022-11-24 16:31:12
A month has gone by since the last earnings report for Trinity Industries (TRN). Shares have added about 21.1% in that time frame, outperforming the S&P...

Logo Benzinga
Business / FinanceBy Globe Newswire2022-11-25 07:30:00
Media relations: Investor relations: Success of Capgemini's 9 th Employee Share Ownership Plan Paris, November 25, 2022 Capgemini today announced t he...

Logo Nasdaq
Business / FinanceBy The Motley Fool2022-11-24 14:45:00
Biotech company Axsome Therapeutics (NASDAQ: AXSM) has had a strong -- although somewhat volatile -- year on the stock market. The company's shares have been...