GlobeX Data Ltd (OTCQB:SWISF) (CSE:SWIS) (FRA:GDT) reported that it has completed its previously-announced C$1.2 million non-brokered private placement equity financing, after issuing 4,076,400 units of the company at a price of C$0.30 per unit.
The company said the proceeds will be used 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 US, Latin America and South Asia.
“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,” GlobeX Data CEO Alain Ghiai said in a statement.
READ: GlobeX Data sees strong interest in secure communication products as work-from-home population balloons
“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,” Ghiai added.
As well, the company noted that its CEO subscribed for 1.75 million units of the private placement, which represents nearly 42% of the total offering.
Each unit of the private placement consisted of one common share plus one-half of one share purchase warrant, entitling the holder to purchase a common share at a price of $0.50 per share for a two-year term.
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 Sean at sean@proactiveinvestors.com