Ms. Juliet Jones reports
NUBEVA ANNOUNCES $1,500,000 PRIVATE PLACEMENT
Nubeva Technologies Ltd. has arranged a non-brokered private placement of units for gross proceeds of up to $1.5-million. All dollar amounts in this news release are stated in Canadian dollars.
The offering shall consist of up to 2,929,688 units at a price of 51.2 cents per unit. Each unit shall consist of one common share in the capital of the company and one-half of one common share purchase warrant, each whole warrant entitling the holder to acquire one common share at a price of 80 cents per common share for a period of up to three years. If, at any time subsequent to the date that is four months and a day from completion of the offering, the closing price of the common shares as quoted on the TSX Venture Exchange for any 10 consecutive trading days is equal to or exceeds $1.60 per common share, the company may provide notice to the holders of the warrants by issuance of a news release that the expiry date of the warrants will be accelerated to the 30th day after the date on which the company issues such news release.
There are no fees associated with this offering. The proceeds from the offering will be used for general working capital purposes.
The offering will be completed pursuant to certain exemptions from the prospectus requirements under applicable securities law. The offering is subject to the acceptance of the TSX Venture Exchange and the securities issued will be subject to the required four-month hold period.
About Nubeva Technologies Ltd.
Nubeva develops and licenses proprietary software for the decryption of network traffic. Nubeva's next-generation SKI (session key intercept) technology represents a better, faster, easier and lower-cost alternative to legacy decryption. Its solution provides a complete option for manufacturers, integrators and managed services providers of cybersecurity and application assurance solutions. Today, nearly all network traffic uses TLS (formerly SSL) for security and privacy, yet enterprises still must see the data in motion to detect and respond to cybersecurity threats and application performance issues. With constant evolution in TLS protocols and the advancements in application, network and computing architectures, gaps continue to grow in the legacy decryption methods. Nubeva's SKI technology represents the next-generation solution for the industry moving forward.
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