GlobeX Data Ltd. Announces Closing of Non-Brokered Private Placement
March 31, 2021 in Company news
TORONTO, ON & NEW YORK, NY / ACCESSWIRE / March 31 2021 / GlobeX Data Ltd. (OTCQB:SWISF)(CSE:SWIS)(FRA:GDT) (“GlobeX” or the “Company”), the leader in Swiss hosted secure communications and secure data management, is pleased to announce that as per its press release of March 19th 2021, stating interest for a private placement, it is pleased to announce the closing of a private placement offering for a total of 4,076,400 Units (as defined below) at a price of CA$0.30 per Unit for total gross proceeds of CA$1,222,920.
Each Unit consists of one common share (a “Share”) priced at CA$0.30 per share, and one-half of one share purchase warrant (a “Warrant”). Each Full Warrant will entitle the holder to purchase a Common share at a price of $0.50 per share for a two-year term (the “Warrant Term”). The offering has been fully subscribed and is now closed. Corporate finance advisory fees of CA$60,000 were paid in the form of cash.
The proceeds of the financing will be allocated to accelerate the marketing of the Company’s Sekur encrypted email and messaging solution to the US market, and for general purposes.
The Company CEO participated in the private placement as well with subscriptions of 1,750,000 units, or almost 42% of the total offering.
The Company plans to use the proceeds of this financing primarily for operational sales and the marketing of its Sekur security solution offering secure email, instant messaging and file sharing, as well as any other marketing related activity for sales in Canada, the USA, Latin America and South Asia.
Alain Ghiai, CEO of GlobeX Data said: “We are very pleased with the demand we have received from our investors for this private placement. This placement effectively puts the Company in a much better position than it was even right after the IPO in July 2019. With more than twice the amount of cash now than in July 2019 and no debt whatsoever, our solutions ready to be deployed in Latin America, the US mass markets, and Canada, we are in an excellent position to move forward as planned. In addition to our valued shareholders who continue to support our vision, I have participated in this placement in the amount of 42% of the total units offered, confirming my unwavering commitment to GlobeX and its success in the years to come. I look forward to an exciting 2021 and would like to thank all our shareholders for their continuing support.”
GlobeX’s Data privacy solutions are all hosted in Switzerland, protecting users’ data from any outside data intrusion requests. In Switzerland, the right to privacy is guaranteed in article 13 of the Swiss Federal Constitution. The Federal Act on Data Protection (“FADP”) of 19 June 1992 (in force since 1993) has set up a strict protection of privacy by prohibiting virtually any processing of personal data which is not expressly authorized by the data subjects. The protection is subject to the authority of the Federal Data Protection and Information Commissioner.
Under Swiss federal law, it is a crime to publish information based on leaked “secret official discussions.” In 2010 the Federal Supreme Court of Switzerland found that IP addresses are personal information and that under Swiss privacy laws they may not be used to track Internet usage without the knowledge of the individuals involved.
About GlobeX Data Ltd.
GlobeX Data Ltd. is a Cybersecurity and Internet privacy provider of Swiss hosted solutions for secure communications and secure data management. The Company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted e-mails, and secure communication tools. GlobeX Data Ltd. sells its products through its approved wholesalers and distributors, and telecommunications companies worldwide. GlobeX Data Ltd. serves consumers, businesses and governments worldwide.
On behalf of Management
GLOBEX DATA LTD.
President and Chief Executive Officer
For more information on Sekur visit us at: https://www.sekur.com.
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guaranteeing future performance. GlobeX cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond GlobeX’s control. Such factors include, among other things: risks and uncertainties relating to the future of the Company’s business; the success of marketing and sales efforts of the Company; the projections prepared in house and projections delivered by channel partners; the Company’s ability to complete the necessary software updates; increases in sales as a result of investments software development technology; consumer interest in the Products; future sales plans and strategies; reliance on large channel partners and expectations of renewals to ongoing agreements with these partners; anticipated events and trends; the economy and other future conditions; and other risks and uncertainties, including those described in GlobeX’s prospectus dated May 8, 2019 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GlobeX undertakes no obligation to publicly update or revise forward-looking information.
SOURCE: GlobeX Data Ltd.