Best Funds Invests $7 Million In XPI

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XPI Inc. (XPI) and BEST Funds have extended their partnership by completing a $7.0 million equity investment. This third investment signals continued and strengthened confidence in XPI and their market-leading product DisclosureNet. DisclosureNet continues its dominant presence as a stand-out corporate disclosure research technology, bolstered by innovative vision and leadership at the core of XPI’s operating principles.

This investment, completed through the Business, Engineering, Science and Technology Discoveries Fund Inc., furthers BEST Funds’ commitment to XPI’s corporate success and strategic growth. The extended partnership will be an exciting and mutually beneficial step towards accelerating business growth. XPI’s main focus with this newest round of investment capital will be continued expansion plans and propelling growth in global markets.

This investment follows amplified demand for DisclosureNet 5 – the latest version of the online, public company research solution – and the growth of the product family with DisclosureNet IFRS and the addition of Australian data. XPI continues to become a dominant presence in global markets, most recently having entered the market in Australia. DisclosureNet is continuing its vertical growth.

BEST Funds is excited about what this financing means to XPI’s prospects going forward. Previous investments in XPI have yielded positive results and have indicated that XPI and its business products are innovative industry-leaders that encompass the BEST Funds’ vision of cutting-edge, game-changing technologies.

Commenting on BEST Funds’ newest investment in XPI, BEST Funds CEO John Richardson remarked, “Having had the unique opportunity to have worked closely with XPI over the last two years, we feel as though this larger commitment is a reflection of the confidence BEST has in XPI’s progress to date and its visionary management team. It is our strong belief that this added investment will enable XPI to meet the ever-increasing demand for DisclosureNet and help position XPI as the unequivocal leader in the securities filings research space. We feel XPI exemplifies the characteristics of a leading Canadian technology company, and we look forward to continuing to work with their team.”

“The investment from BEST Funds further strengthens an already strong relationship between our companies” stated Stephane Jasmin, XPI’s Chief Executive. “BEST’s ongoing commitment has assisted directly in our continued success in delivering leading-edge solutions to our customers. The infusion of funding will be utilized to transition the company into global markets, as well as expand current operations to meet ever increasing demands for DisclosureNet.”

BEST’s renewed partnership with XPI is a testament to the confidence in its visionary management team, its leadership, and the ability of the company to meet ever increasing industry demand for its innovative business solutions.

About XPI

XPI is an innovative technology company committed to building a global disclosure network that facilitates the process for timely, secure, and compliant creation, dissemination and analysis of public company information. DisclosureNet enables users to search, mine and monitor—through real time alerts and RSS feeds—specific corporate disclosure documents filed in the United States via EDGAR, in Canada via SEDAR and SEDI, in the UK, and most recently in Australia. With widespread adoption reaching over 500 clients and 15,000 professional users, DisclosureNet has become the online research tool of choice for accounting, corporate, investment, legal and regulatory market users.

Visit http://www.disclosurenet.com for more information.

About BEST Investment Counsel Limited

Founded in 1996, BEST Funds is a leading Canadian venture capital firm. BEST is the manager of venture capital funds as well as accredited investor funds and has successfully completed over 350 transactions to date, representing the entire spectrum of VC financing, from seed-and-start-up to later-stage financing. The firm’s principals bring a wealth of experience and professional designations including, CA, CFA, CBV, MBA, MSC, & LLB.

The firm’s investment focus is on emerging Canadian companies engaged in software, cloud computing, financial services, and clean tech business models which fundamentally change the way people live.

For further information, please contact:
Alan Chettiar
BEST Investment Counsel Limited
achettiar(at)bestfunds(dot)ca
http://www.bestfunds.ca

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Peter Kaju CFO
XPI Inc.
(416) 916-8798 125
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