SAN JOSE, Calif., August 11, 2021 – Nubeva Technologies Ltd. (TSX-V:NBVA) (“Nubeva” or the “Company”), a developer of decryption software that broadens network traffic security and visibility, issues this news release as notice that it has elected to trigger acceleration of the expiry date of share purchase warrants issued on March 25, 2021 (“Warrants”).
Further to the news releases dated March 23 and 26, 2021, if at any time between the expiry date of the Warrants and the date that is four months and one day from their issuance, the closing price of the Company’s common shares (the “Common Shares”) on the TSX Venture Exchange (“TSXV”) equals or exceeds $1.00 for 10 consecutive trading days, then the Company may, at is the sole option, elect to provide notice (the “Acceleration Notice”) to the holders of the Warrants by news release that the Warrants will expire at 4:00 p.m. (Vancouver time) on the date that is 30 days from the date of the Acceleration Notice (the “Accelerated Expiry Date”). Accordingly, the Accelerated Expiry Date of the Warrants is September 10, 2021.
ANY WARRANTS THAT HAVE NOT BEEN EXERCISED BY 4:00 P.M. (VANCOUVER TIME) ON SEPTEMBER 10, 2021 WILL AUTOMATICALLY EXPIRE.
Each Warrant entitles the holder to purchase one Common Share at a price of CAD$0.65. If all Warrants are exercised, including previously exercised Warrants, proceeds to the Company will total approximately CAD $722,220, however, there can be no assurance that any additional Warrants will be exercised prior to the Accelerated Expiry Date. Holders of Warrants who wish to exercise their Warrants should review the exercise requirements contained in the Warrant certificate, and contact their legal and investment advisors before submitting the exercise form and any other applicable documentation to the Company.
The contact details for the Company are
Nubeva Technologies Ltd.
Attn: Chief Financial Officer
About Nubeva Technologies Ltd.
Nubeva’s next-generation SKI (Session Key Intercept) technology represents a better, faster, easier, and lower-cost alternative to legacy decryption. Our 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. Visit nubeva.com for more information.
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to Warrant proceeds, the Company's business plans and the outlook of the cybersecurity industry. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.