GlobeX Data Ltd. Announces Closing of Non-Brokered Private Placement
January 16, 2021 in Company news
TORONTO, ON / ACCESSWIRE / January 16, 2021 / GlobeX Data Ltd. (OTCQB:SWISF) (CSE:SWIS) (“GlobeX” or the “Company”), the leader in Swiss hosted secure data management and secure communications, is pleased to announce that as per its press release of January 4th 2021, stating interest for an oversubscribed private placement, it is pleased to announce the closing of a private placement offering for a total of 9,000,000 Units (as defined below) at a price of CA$0.12 per Unit for total gross proceeds of CA$1,080,000.
Each Unit consists of one common share (a “Share”) and one share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase an additional share at a price of $0.15 per share for a two-year term (the “Warrant Term”).
The Company CEO and CFO have participated in the private placement as well with subscriptions of 2,017,355 units, or almost 23% of the total offering.
Finance fees equivalent to CAD 50,040 were paid in the form of Units for a total of 417,000 units and advisory were paid in cash amount of CAD 76,500 and in the form of compensation warrants for a total of 640,000 warrants and CAD 4,000 were paid in the form of advisory fee in cash with no compensation warrant. Each Warrant will entitle the holder thereof to purchase one common share of the Company at a price of $0.15 for a period of 24 months from the date of issuance. Net proceeds to the Company were CAD 999,500.
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 response we have received to this private placement. In addition to our valued shareholders who continue to support our vision, the CEO and the CFO have participated in this placement in the amount of 23% of the total units offered, confirming our commitment and strong belief in the success of GlobeX as its story unfolds. As of the close of this placement, we are in a much stronger position than we were at the time of our IPO. Our balance sheet is stronger, the hard work and large expenses of the IPO in addition to our integration and heavy R&D costs are behind us, and we have added strong distribution partners, such as the ones we have just signed up in Canada and the USA. Additionally, our emerging market partners, such as telecom giant America Movil, are starting to ramp up post COVID-19 and have shown a real commitment to push GlobeX’s security solutions to their business clients. I look forward to an exciting 2021 and would like to thank all our shareholders for their continuing support.”
About GlobeX Data Ltd.
GlobeX Data Ltd. is a Cybersecurity and Internet privacy provider of Swiss hosted solutions for secure data management and secure communications. 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 please contact GlobeX Data at firstname.lastname@example.org or visit us at https://globexdata.com.
Forward Looking Information
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 guarantees of 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.