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VANCOUVER, BC, November 25, 2022 /CNV/ – 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 time-sensitive smart industry infrastructure applications series of data, yesterday held the Annual General and Special Meeting (“AGSM”) of shareholders. The company summarized its corporate transformation and received shareholder approval for its new Equity Incentive Plan. Complete set of June 30, 2022 Consolidated Financial Statements and Management’s Discussion and Analysis for Fiscal Year – 2022 October 24 and is filed at www.sedar.com.
Since 2014, it has been trusted to provide environmental monitoring to many of the largest water infrastructure utilities in the US and Canada, infinitii ai has evolved into a leader in AI-driven predictive analytics for industrial and infrastructure Smart City applications that rely on time series data. The company serves customers through a network of trusted partners that includes engineering and IT services companies such as AECOM, Core & Main, Kerr Wood Leidal Associates Ltd., K2 Geospatial and CSL Services Inc.
Management comments and forward-looking statements
“In fiscal year 2022, infiniti ai won significant new sales contracts with Los Angeles County and Miami-Dade County. This combined with the renewals of all our major Smart City customers increased monthly revenue from contracted and postpaid customers by 46%,” he said. Jean Charles Phaneuf, CEO of infiniti ai. “We are well positioned with a new corporate brand that underpins the infinitii data processing platform – the machine learning technology base for a product portfolio of 15 well-branded, clearly differentiated products that serve 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 Industri customers and achieving increased growth as well as profitability.”
Equity Incentive Plan
The company has not granted any stock options in fiscal year 2022 Nov. 24 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 stock units, performance share units and deferred stock units in order to attract and retain qualified employees and senior managers. The 2022 Plan is an ongoing plan that provides that the total maximum number of shares issuable 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, as shares covered by awards that have been exercised, settled or terminated will be available for subsequent grants under the 2022 Plan, and the number of awards available for grant increases as the number of issued and outstanding shares increases.
The Company’s board of directors will determine the extent to which each such person is entitled to receive an award pursuant to the 2022 Plan. More details about the 2022 Plan can be found at www.sedar.com.
About infinity and inc.
Since 2014, it has been trusted to provide environmental monitoring to many of the largest water infrastructure utilities in the US and Canada, infinitii ai (formerly Carl Data Solutions Inc.) has evolved into a leader in AI-driven predictive analytics. Smart City water and Smart Industri infrastructure applications that rely on time series data. The company serves customers through a network of trusted partners that includes engineering and IT services companies such as 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, historical, wireless, satellite, SCADA, or public datasets including USGS, NOAA and weather – no matter where the data comes from, 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 content of this press release.
Forward-looking statements
This press release contains certain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are often characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or “may” or “will occur” conditions. Forward-looking information is based on certain key expectations and assumptions made by infiniti ai management, including the expectation of future revenue growth. Although infinitii ai believes that the expectations and assumptions underlying such forward-looking information are reasonable, you should not place undue reliance on forward-looking information, as infinitii ai can give no assurance that it will prove to be accurate. All forward-looking statements contained in this press release are made as of the date of this release. infinitii ai disclaims any intention or obligation to publicly update any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
SOURCE infinitii ai inc.
For further information: Nathan Rudik, Director, Corporate Communications, [email protected]+1 778 200 2093, infinitii ai inc.
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