Fintech opportunity to accelerate Cloud and
Machine Learning innovation
TORONTO, Sept. 10, 2019 /CNW/ - 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.
SOURCE NexJ Systems Inc.