TORONTO and NEW YORK,
April 15, 2016 /CNW/ - AcuityAds
Holdings Inc. (TSXV:AT) ("AcuityAds" or "Company"), a leading
provider of targeted digital media solutions, enabling advertisers
to connect intelligently with their audiences across online
display, video, social and mobile campaigns, is pleased to announce
that the Company has received a cash refund of approximately
$900,000 from the Canada Revenue
Agency ("CRA") for Investment Tax Credits ("ITC") relating to
eligible Scientific Research and Experimental Development
("SR&ED") claims for the years 2011, 2012, 2013 and 2014.
As previously reported in the Company's Q2 2014 Financial
Results on August 26th,
2014, the CRA had disallowed the Company's SR&ED claims for
2011 and 2012. With the assistance of the Company's
professional advisors, a majority of the Company's SR&ED claims
for the years above were reviewed and accepted by the
CRA.
"The SR&ED Program is an important federal tax incentive
program that enables Canadian companies to develop cutting edge
technologies and we are very pleased that the CRA has recognized
AcuityAds efforts and approved these credits in our favor," stated
David Andrews, CFO of AcuityAds.
"These types of incentives are very important in the development of
AcuityAds' world class technology, which is now being used by
companies around the globe."
The $900,000 refund will be offset
against the Investment Tax Credit receivable of $450,000 recorded in previous years and the
remainder will be accounted for as a reduction of the related
expenditures in the Company's statement of income.
About AcuityAds:
AcuityAds has developed a Programmatic Marketing Platform
powered by proprietary machine learning technology that allows
advertisers to target and connect intelligently with their
audiences across online display, video, social and mobile
campaigns. With sales operations in New
York, Boston, Los Angeles, Toronto and Montreal,
AcuityAds customers range from large Fortune 500 enterprises to
small and mid-sized businesses. For more information,
visit www.acuityads.com.
Disclaimer in regards to Forward-looking Statements
Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable securities laws,
including statements regarding future waivers by the Lenders and
the future growth of the Company. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management at this time, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. Investors are
cautioned not to put undue reliance on forward-looking statements.
In particular, but without limitation, statements contained in this
release concerning the expected use of the net proceeds from the
Loan are inherently uncertain and subject to prevailing market
conditions. Except as required by law, AcuityAds does not intend,
and undertakes no obligation, to update any forward-looking
statements to reflect, in particular, new information or future
events.
Neither 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
SOURCE AcuityAds Inc.