GlobeX Data (CSE:SWIS, OTCQB:SWISF) Ltd said it has completed an oversubscribed private placement financing consisting of 17,281,416 company units, at a price of C$0.33 per unit, for total gross proceeds of C$5,705,758.09.
Net proceeds of the financing, totaling about C$5.4 million, will be used to continue to accelerate the marketing of the company's Sekur encrypted email and messaging solution to the US market and for general purposes.
“This additional placement gives the company even more capabilities as we continue to deploy our solutions to the US mass consumer market and business sectors in the coming 24 months,” GlobeX Data (CSE:SWIS, OTCQB:SWISF) CEO Alain Ghiai said in a statement.
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“With slightly over C$9,000,000 (US$7,030,000) in the bank as of the close of this funding, the company has all the cash to execute its plan for 2021 and continue its 2022 marketing plan, and looks forward to bring true Swiss privacy and security to US consumers and businesses,” Ghiai added.
Each unit 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 $0.60 per share for a two-year term.
The company noted that its CEO and chief financial officer purchased 2,295,000 units or 15% of the total offering.
GlobeX also reported that as part of its 2021 and 2022 mass marketing budget previously announced, it has committed and contracted, through its media partners Accel Media International LLC, for additional media exposure on Newsmax, consisting of a minimum of 80 30-seconds commercial spots and one new SEKUR Privacy and Security segment per week.
Sekur is based on Swiss-hosted data privacy and security regulation and geared towards consumers and businesses, who do not want their data mined by third-party service providers. As it is not connected to the leading platforms like Amazon Web Services, Microsoft Azure or Google Cloud, GlobeX designed Sekur is a truly independent, private and secure means of communications through its secure servers based in Switzerland.
Toronto and New York-based GlobeX distributes a suite of encrypted e-mails, secure messengers, secure communication tools, and secure cloud-based storage, disaster recovery, document management.
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