NetCurrents Signs Letter of Intent to Acquire MindfulEye

NetCurrents Inc, The Premier Internet Intelligence Agency, and MindfulEye Inc jointly announced that they have entered into a formal letter of intent whereby NetCurrents Inc intends to acquire MindfulEye Inc in a stock for stock transaction. MindfulEye is the developer of Lexant, an artificial intelligence (AI) technology that can read and understand material as it appears on the Internet. This technology utilizes natural language processing, neural networks, and thousands of rules of grammar to determine the true meaning of words in context. MindfulEye filed for patent protection with the U.S. Patent Office last July. Lexant can be adapted to analyze content in languages other than English, positioning the technology to serve the global marketplace.

According to Irwin Meyer, Chairman and CEO of NetCurrents, "MindfulEye's management team, revenue growth prospects and technology platform fit "hand-in-glove" with NetCurrents' growth initiatives, creating a very powerful partnership. The combination of MindfulEye's AI technology and our FIRST technology will result in an outstanding end-to-end, real-time search and rating solution, expanding our patent pending core technology and significantly reducing licensing costs as we roll out our new channel products."

Meyer continued, "In light of our global growth strategy, NetCurrents has been carefully tracking MindfulEye's progress in capturing industry and media attention to its enabling AI technology - particularly from leading technology, financial and marketing organizations in Canada. MindfulEye is a highly respected provider of subjective content analysis. It has also established partnerships with Canada NewsWire and Microsoft Canada, and has built strong relationships with the Toronto Stock Exchange and the Canadian Venture Exchange, among others."

Commenting on the proposed combination of the two companies, MindfulEye CEO and president, Ray Torresan, said, "This merger represents a marriage of strengths, combining MindfulEye's artificial intelligence technology with NetCurrents' extensive products and services, its distribution infrastructure and its international strategic alliances. The combination brings a number of benefits: the addition of leading edge patent pending artificial intelligence technology, cost savings, and new features for immediate integration with existing products."

The closing of the proposed stock offer is subject to reciprocal due diligence, applicable corporate and regulatory approvals and the successful negotiation and execution of a definitive agreement.

About NetCurrents Inc

NetCurrents, The Premier Internet Intelligence Agency, analyzes communications from more than 65,000 targeted locations in real-time. The Company provides clients with critical information and counsel protection of their corporate image, measure consumers' perceptions and counter misinformation on the Internet. Due to the sensitivity of businesses that require this type of technology and analysis, confidentiality of NetCurrents clients is assured.

About MindfulEye Inc

Founded in 1999, Vancouver-based MindfulEye has created a new class of artificial intelligence (AI) technology that can read and understand language in real time on the Internet. Called Lexant, this patent-pending technology utilizes natural language processing, neural networks and a lexicon of thousands of rules of grammar to determine the true meaning of words in context.

Contact MindfulEye Inc, Vancouver, Ray Torresan, 604-638-6800, ir@mindfuleye.com.