Fintech opportunity to accelerate Cloud and Machine Learning innovation
Toronto, ON (September 10, 2019) — NexJ Systems Inc. (TSX: NXJ) today announced that in recognition of the demand within the financial services market for intelligent customer management solutions, and in support of the upcoming launch of their innovative cloud CRM and Machine Learning initiatives, the Company’s Board of Directors has initiated a review of strategic and financial alternatives to accelerate scale and enhance shareholder value.
The Board of Directors of NexJ Systems is committed to fully evaluating appropriate strategic alternatives while simultaneously supporting management and employees in their ongoing efforts to deliver disruptive new Fintech solutions. The Board believes that pursuing these complementary paths is in the best interests of NexJ Systems’ shareholders, customers and employees and is designed to maximize value.
The Company has appointed a Special Committee to review and consider alternatives which may include, among others, recapitalization, joint ventures, strategic partnerships or alliances or other possible transactions. The Special Committee is comprised of three independent directors of the Company, namely Michael Cardiff as Chairman of the Committee, Ian McPhee and David Yach. The Company further announced that it has engaged TD Securities Inc. as its financial advisor and Blake, Cassels & Graydon as its legal advisor.
It should be noted that the Company has not set a definitive schedule to complete its evaluation and no decision on any particular transaction or alternative has been reached at this time. Equally, there is no certainty that any transaction or alternative will be undertaken or pursued. The Company does not intend to make further announcements regarding the strategic review process unless it concludes they are warranted by the circumstances or are expressly required by law.
About NexJ Systems Inc.
NexJ Systems delivers intelligent customer management software to the financial services industry. Its award-winning CRM delivers financial services-specific capabilities powered by artificial intelligence to increase productivity, improve client engagement and increase revenue. Together, the Intelligent Customer Management suite delivers a continuously-learning, cognitive application that recommends the right intelligence-augmented actions for users to deliver personalized customer service at scale and grow their business.
Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, like us on Facebook or hang out with us on Google+.
NexJ Forward-looking Statement
This press release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), including forward-looking statements relating to the Company’s strategic review process; the consequences of completion of a transaction; and other expectations and assumptions concerning any transaction. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the failure of NexJ Systems to find a suitable counterparty; failure to satisfy the conditions to the completion of a transaction, in a timely manner, or at all; and other risks, factors and assumptions discussed in NexJ Systems Annual Information Form and other documents filed by the Company with the Ontario Securities Commission and other securities regulators across Canada. If any such risks actually occur, they could impact the potential for discussion, agreement or completion of a transaction and/or materially adversely affect the Company’s business, financial condition or results of operations. In that case, the trading price of the Company’s common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
For more information:
Matthew Bogart
Vice President, Marketing
NexJ Systems Inc.
Tel. +1 416-227-3708
Email: Matthew.bogart@nexj.com