GlobeX Data Ltd. (OTCQB:SWISF) (CSE:SWIS), the leader in Swiss hosted secure data management and secure communications, has announced the closing of its private placement offering, first unveiled on January 4, 2021, for total gross proceeds of C$1,080,000
The company said it plans to use the proceeds of this financing 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 USA, Latin America and South Asia.
The offering was for a total of 9,000,000 units at a price of C$0.12 per unit, with each unit consisting of one common share and one share purchase 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.
READ: GlobeX Data gears up for SekurMessenger’s Latin America launch with Telcel, taking on WhatsApp for Business
The company said its CEO and CFO participated in the private placement as well with subscriptions of 2,017,355 units, or almost 23% of the total offering.
Finance fees equivalent to C$50,040 were paid in the form of a total of 417,000 units and advisory fees were paid in a cash amount of C$76,500 and in the form of compensation warrants for a total of 640,000 warrants and C$4,000 paid in the form of cash with no compensation warrant. Each compensation warrant will entitle the holder to purchase one common share of the company at a price of $0.15 for a period of 24 months from the date of issuance.
Net proceeds to the company were C$999,500.
In a statement, Alain Ghiai, CEO of GlobeX Data commented: "We are very pleased with the response we have received to this private placement. In addition to our valued shareholders who continue to support our vision, the CEO and the CFO have participated in this placement in the amount of 23% of the total units offered, confirming our commitment and strong belief in the success of GlobeX as its story unfolds. As of the close of this placement, we are in a much stronger position than we were at the time of our IPO.
"Our balance sheet is stronger, the hard work and large expenses of the IPO in addition to our integration and heavy R&D costs are behind us, and we have added strong distribution partners, such as the ones we have just signed up in Canada and the USA. Additionally, our emerging market partners, such as telecom giant America Movil, are starting to ramp up post-COVID-19 and have shown a real commitment to push GlobeX's security solutions to their business clients."
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