ATW Tech provides an update on the private placement and the acquisition of Semeon Analytics Inc.

MONTREAL, Oct. 23, 2020 (GLOBE NEWSWIRE) -- ATW Tech Inc. (the "Company" or "ATW Tech") (TSX-V: ATW) provides an update on the acquisition of Semeon Analytics Inc. (the "Acquisition") and the private placement (the "Private Placement") that were announced on October 1, 2020. ATW Tech has decided to postpone the estimated closing date of the Acquisition and the Private Placement in order to complete the due diligence of Semeon Analytics Inc. and to obtain the approval of the TSX Venture Exchange. ATW Tech now expects to close before November 20, 2020.

SEMEON’S PROFILE

Semeon is a Quebec-based technology company that has developed an artificial intelligence technology. Over the past 5 years, Semeon has combined techniques of semantic, sentiment, intent and statistical analysis with artificial intelligence driven natural language processing systems to develop a platform capable of automatically analyzing, classifying and visualizing data from multiple channels and a powerful workbench suite which permits even non-experts to customize classification and filtering settings without the need for cumbersome rule sets. Semeon provides its clients with a platform for precise text analysis, intelligent and flexible for decoding, understanding, and summarizing customer feedback on specific elements. For this purpose, Semeon's natural language text analysis technology allows to browse through thousands of customer comments, to extract the concepts expressed, to classify these as positive, negative or neutral opinions, so that companies or organizations can adjust their communication and marketing strategy in an informed and diligent manner.

Whether it is an acceleration of customer feedback processing, the identification of key parts in a supply chain or key elements in financial forecasting models, among others, Semeon ensures gains in analysis speed allowing critical decision making in minutes or hours rather than weeks or months.

ATW TECH'S PROFILE

ATW Tech (TSX-V: ATW) is a financial technology company ("fintech"), owner of several recognized technology platforms such as VoxTel, Option.vote and Bloomed. VoxTel specializes in telephone billing and alternative payment solutions for fixed and mobile lines. Option.vote offers a customized multi-method voting system for unions, political parties, professional associations and anyone looking for a secure way to reduce their voting costs and improve their participation rate. Bloomed is a cloud computing platform for managing smart data on consumers and their behaviors for both business and consumer-oriented campaigns.