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GlobeX Data CEO and CFO to participate in its C$1.1M oversubscribed private placement

Its two senior executives are planning to purchase a total of 1.65 million units, representing nearly 19% of the total offering

GlobeX Data -
GlobeX Data says it plans to use the proceeds of the financing primarily for the marketing of its Sekur security solution

GlobeX Data Ltd (CSE:SWIS) (OTCQB:SWISF) reported that it has received interest for an oversubscribed C$1.1 million private placement consisting of 9 million units, at a price of C$0.12 per unit, with GlobeX’s CEO and CFO planning to purchase a total of 1.65 million units representing nearly 19% of the total offering. 

The company said it plans to use the proceeds of this financing primarily for 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.

Each unit of the private placement consists of one common share and one share purchase warrant, entitling the holder to purchase an additional share at a price of $0.15 per share for a two-year term. 

READ: GlobeX Data provides Sekur.com in Spanish as it gears up for launch in Latin America and Spain in early 2021

GlobeX noted that the private placement was oversubscribed, since there was a limit of 9 million units available under a previous filing with the CSE for a price reservation expiring January 16, 2021.

The company added that it expects to close the financing by January 15, 2021, and plans to issue a separate press release with full details of the financing’s gross and net proceeds and any fees associated with this financing.

GlobeX Data distributes, designs and develops software and cybersecurity solutions that protects data and communications to keep data and communications safe and secure.

The company’s data privacy solutions are all hosted in Switzerland, protecting users’ data from any outside data intrusion requests.

GlobeX announced recently that it has completed the translation of its Sekur email and messaging security platform into Spanish, as it gears up for its commercial launch in Latin America and Spain in the first quarter of 2021.  

Through its partnership with distributor Micronet, GlobeX Data will first launch in Colombia and Panama and possibly in Spain. Micronet, headquartered in Spain, manages a network of 3,000 resellers in 11 countries through Central and Latin America.

Contact Sean at sean@proactiveinvestors.com

Quick facts: GlobeX Data

Price: 0.43 CAD

CSE:SWIS
Market: CSE
Market Cap: $23.43 m
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