VerticalScope invests in AltaML
Unless otherwise stated, all amounts are in US dollars. VerticalScope Holdings Inc. (“VerticalScope” or the “Company”) (TSX: FORA; OTCQX: VFORF), a technology company that has built and operates a cloud-based digital platform for online enthusiast communities, today announced an approximately $6.1 million investment in AltaML Inc. (“AltaML”), a Canadian applied artificial intelligence company. The investment takes the form of an 18-month, interest-bearing, secured promissory note issued by AltaML to the Company.
AltaML also issued a five-year warrant exercisable by VerticalScope for preferred shares in AltaML, providing the Company with equity participation in AltaML as additional consideration. The investment builds on VerticalScope’s existing relationship with AltaML, which VerticalScope engaged as an enterprise client to deploy applied AI across its platform and operations. The Company views applied AI as an important part of its longer-term strategy, and the investment deepens that relationship.
AltaML, founded in 2018, is an applied-AI company that delivers production-grade agentic workflows, large-language-model integrations and automation solutions to governments and enterprise clients in sectors including energy, legal, technology and financial services. AltaML uses a forward-deployed engineering model, embedding technical AI specialists directly with client teams, and is the developer of AltaForge, a proprietary agentic-AI platform. AltaML intends to use the proceeds to refinance existing convertible notes and for working capital and continued investment in its AltaForge platform and go-to-market activities. “Applied AI is an important part of how we are building VerticalScope for its next phase of growth,” said Chris Goodridge, Chief Executive Officer of VerticalScope. “We have worked with AltaML as an enterprise client, and this investment deepens that relationship as we apply AI across our communities and operations.” “We are pleased to welcome VerticalScope as an investor,” said Cory Janssen, Co-Founder and Chief Executive Officer of AltaML. “This financing supports continued investment in our AltaForge platform and our enterprise and government growth.” Related Party Matters Cory Janssen, Chief Executive Officer of AltaML, is a member of VerticalScope’s Board of Directors.
Mr. Janssen declared a conflict of interest with respect to this transaction and did not participate in the Board’s review or approval of the investment. Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, the transaction is a “related party transaction”. VerticalScope was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the transaction.
About VerticalScope Holdings Inc. Founded in 1999 and headquartered in Toronto, Ontario, VerticalScope is a technology company that has built and operates a cloud-based digital platform for online enthusiast communities in high consumer spending categories. VerticalScope's mission is to enable people with common interests to connect, explore their passions, and share knowledge about the things they love. Through targeted acquisitions and development, VerticalScope has built a portfolio of over 1,200 online communities and approximately 90 million monthly active users.
About AltaML AltaML is an applied artificial intelligence company headquartered in Edmonton, Alberta. Founded in 2018, AltaML helps organizations in the public sector, energy, construction, legal, technology, and commercial markets build and deploy production-grade AI solutions. AltaML’s forward-deployed engineering model embeds AI specialists directly with client teams to deliver agentic workflows, LLM integrations, and automation outcomes at scale.
AltaML is the developer of AltaForge, a proprietary agentic-AI platform purpose-built for enterprise deployment. Forward-Looking Statements This news release contains forward-looking information within the meaning of applicable securities legislation that reflects the Company's current expectations regarding future events. When used in this news release, words such as “should”, “could”, “intended”, “expect”, “plan” or “believe” and similar expressions indicate forward-looking statements.
Forward-looking information, including the Company’s plans for organic growth, deployment of capital, investments in our platform, the growth of revenue and MAU, information regarding our financial position, business strategy, growth strategies, addressable markets, budgets, operations, financial results, plans and objectives, is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Forward-looking information in this release includes statements about the Company's investment in, and relationship with, AltaML and expected benefits therefrom and the Company's strategy with respect to applied AI. Although the Company believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurances can be given that actual results will be consistent with these forward-looking statements.
Such risks and uncertainties include, but are not limited to, the implementation and effectiveness of the Company's capital allocation strategy, the availability of high-quality M&A opportunities, dependence on search algorithms and third-party traffic sources, the impact of artificial intelligence on search behavior, content discovery patterns and user traffic, the Company's ability to adapt its platform and monetization strategies to AI-mediated discovery, opportunities to monetize content through data licensing arrangements, potential disruption from artificial intelligence technologies, the Company's ability to realize the anticipated benefits of its partnership with AltaML and its broader AI initiatives, including operating leverage and cost savings, the Company's ability to scale new products and achieve projected revenue or EBITDA contribution levels, evolving privacy and data regulations, macroeconomic conditions affecting advertiser spending, the Company’s ability to grow its direct user base, the Company's ability to protect and enforce its intellectual property rights, including against unauthorized use of its content by artificial intelligence companies and other third parties, the outcome, costs, timing and impact of any current or future litigation, regulatory proceedings, or enforcement actions, including those relating to the use of the Company's content by third parties, and the factors discussed under "Risk Factors" in the Company’s Annual Information Form dated March 31, 2026, which is available on the Company’s profile on SEDAR Plus at https://sedarplus.ca . Actual results could differ materially from those projected herein. VerticalScope does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
Related Links http://www.verticalscope.com View source version on businesswire.com: https://www.businesswire.com/news/home/20260709969154/en/ For further information Investor and media inquiries: VerticalScope — Vincenzo Bellissimo, Chief Financial Officer, Tel: 416-341-7166, IR@verticalscope.com Business Wire July 9, 2026 - 2:05 PM PDT News by QuoteMedia www.quotemedia.com