GlobeX Data Ltd (OTCQB:SWISF)(CSE:SWIS)(FRA:GDT), the cybersecurity and privacy solutions provider, announced that it has secured firm commitments of C$1.25 million in equity financing.
The advanced technology company said each unit in the financing consists of one GlobeX Data common share priced at C$0.30 per share, and one-half of one share purchase warrant. Each full warrant will entitle the holder to purchase a share at a price of $0.50 per share for a two-year term. The offering has been fully subscribed and is now closed, said the company.
GlobeX Data said the proceeds of the financing will be used to “accelerate the marketing of the company's Sekur encrypted email and messaging solution to the US market, and for general purposes.”
READ: GlobeX Data receives new order for its Sekur system from biotechnology firm Hemostemix
The company's CEO, Alain Ghai participated in the private placement with subscriptions for 1,750,000 units, or almost 42% of the total offering.
Once all the regulatory filings have been submitted, the company said it will disclose all details linked to any fees paid to third parties, if any.
GlobeX’s data privacy solutions for secure data management and secure communications 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 company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted e-mails, and secure communication tools.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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