NowVertical Announces Agreement to Defer Payment of Amounts to Affinio Sellers, Demonstrating Continued Support
03 Fevereiro 2025 - 10:00AM
NowVertical Group Inc. (TSX-V: NOW) ("NowVertical" or the
"Company"), a leading data and AI solutions provider, is pleased to
announce that the sellers of Affinio Inc. (the “Sellers”) led by
Whitecap Venture Partners have agreed to defer payment of USD
$998,000 of outstanding liabilities previously due during the first
half of 2025, which will now become payable in late Q4 2025. This
deferral demonstrates the ongoing confidence and support the
Sellers have in NowVertical’s “One Brand, One Business” strategy.
“We appreciate the Affinio Sellers’ willingness
to work with us in extending these liabilities,” said Sandeep
Mendiratta, Chief Executive Officer of NowVertical. “This agreement
allows us to maintain our focus on executing our organic growth
initiatives as we move towards our objective to achieve a US$50
million revenue run rate and 20% best-in-class EBITDA margin.”
This development reflects the strong
relationship between NowVertical and the Sellers, reaffirming the
trust and alignment both parties share in the Company’s strategic
vision. NowVertical appreciates this collaboration, which
underscores a positive outlook for the Company’s continued success
and growth.
About NowVertical Group
Inc.
The Company is a global data and analytics
company which helps clients transform data into tangible business
value with AI, fast. Offering a comprehensive suite of solutions
and services the Company enables clients to quickly harness the
full potential of their data, driving measurable outcomes and
accelerating potential return on investment. Enterprises optimize
decision-making, improve operational efficiency, and unlock
long-term value from their data using the Company's AI-Infused
first party and third-party technologies. NowVertical is growing
organically and through strategic acquisitions. For further details
about NowVertical, please visit www.nowvertical.com.
Neither the 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.
For further information, please
contact:
Andre Garber, CDOIR@nowvertical.comT:
+1(647)947-0223
Cautionary note regarding
Forward-Looking Statements
This news release contains forward-looking
information and forward-looking information within the meaning of
applicable Canadian securities laws (together
"forward-looking statements"). Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management, are
inherently subject to significant business, economic and
competitive uncertainties, and contingencies, certain of which are
unknown. Forward-looking statements generally can be identified by
the use of forward-looking words such as "may", "should", "will",
"could", "intend", "estimate", "plan", "anticipate", "expect",
"believe" or "continue", or the negative thereof or similar
variations and include statements regarding the ability of the
Company to achieve its financial objectives. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause future results, performance, or achievements
to be materially different from the estimated future results,
performance or achievements expressed or implied by the
forward-looking statements and the forward-looking statements are
not guarantees of future performance. Forward-looking statements
are qualified in their entirety by inherent risks and
uncertainties, including: adverse market conditions; risks that the
Company will be unable to pay amounts owing when due; risks
inherent in the data analytics and artificial intelligence sectors
in general; regulatory and legislative changes; that future results
may vary from historical results; inability to obtain any requisite
future financing on suitable terms; any inability to realize the
expected benefits and synergies of acquisitions or dispositions;
that market competition may affect the business, results and
financial condition of the Company and other risk factors
identified in documents filed by the Company under its profile at
www.sedarplus.com, including the Company's management's discussion
and analysis for the year ended December 31, 2023. Further, these
forward-looking statements are made as of the date of this news
release and, except as expressly required by applicable law, the
Company assumes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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