Globex Data Ltd. Announces Oversubscribed Private Placement

January 7, 2021 in Company news

TORONTO, ON / ACCESSWIRE / January 4, 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 it has received interest for an oversubscribed 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 private placement was oversubscribed, since there was a limit of 9,000,000 units available under a previous filing with the CSE for a price reservation expiring January 16 2021. The Company is now processing all the administrative work in order to close the financing and file all regulatory papers and notices by January 15 2021. A separate press release will be issued with full details of the financing gross and net proceeds and any fees associated with this financing.

The Company CEO and CFO are participating in the placement as well with subscriptions of 1.65 million units, or almost 19% of the total offering.

The Company plans to use the proceeds of this financing primarily or 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 North America, Latin America and South Asia.

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.
Alain Ghiai
President and Chief Executive Officer
+1.416.644.8690
corporate@globexdatagroup.com

For more information please contact GlobeX Data at corporate@globexdatagroup.com or visit us at https://globexdatagroup.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.

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