GlobeX Data Ltd. Announces Updated Higher Amount of Closing of Non-Brokered Private Placement
May 17, 2021 in Company news
TORONTO, ON and NEW YORK, NY / ACCESSWIRE / May 17 2021 / GlobeX Data Ltd. (OTCQB:SWISF) (CSE:SWIS) (“GlobeX” or the “Company”), the leader in Swiss hosted secure communications and secure data management, is pleased to announce that subsequent to the May 14th 2021 press release of its Closing of a Non-Brokered Private Placement, it has updated the final total gross amount of the closing of a private placement offering for a total of 7,256,593 Units (as defined below) at a price of CA$0.30 per Unit for total gross proceeds of CA$2,176,977.90.
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$122,000 were paid in the form of cash. Net proceeds to the Company were CA$2,054,977.90.
The proceeds of the financing will be allocated to accelerate the marketing of the Company’s Sekur encrypted email and messaging solutions to the US mass market, and for general purposes.
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 additional placement gives the Company extra capabilities as we deploy our solutions to the US mass market in in the coming 24 months. Our solutions are ready to be deployed the US mass markets, and we are in an excellent position to move forward as planned. We plan to increase our USA marketing budget to US$700,000 for the remainder of 2021, and possibly increase it more, depending on the results of our media and marketing efforts. The company has all the cash to execute its plan for 2021 and looks forward to bring true Swiss privacy and security to US consumers and businesses.”
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 encrypted e-mails, secure messaging and secure communication tools, cloud-based storage, disaster recovery, and secure document management 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
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.