Ms. Juliet Jones reports
NUBEVA CLOSES $1,500,000 PRIVATE PLACEMENT
Nubeva Technologies Ltd. has closed its previously announced non-brokered private placement of 2,929,687 units at a price of 51.2 cents per unit for gross proceeds of $1.5-million.
Each unit is composed of one common share of the company and one-half of a common share purchase warrant. Each whole warrant entitles the holder to acquire a share at a price of 80 cents for a period of up to three years, subject to acceleration, as more particularly described in the company's news release of April 6, 2021. All securities issued under the private placement are subject to a four-month hold period.
The company did not pay any commissions or finders' fees in connection with the private placement. The proceeds from the offering will be used for general working capital purposes.
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 service 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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