San Jose, Calif., October 5, 2021 -- Nubeva Technologies Ltd. ("Nubeva" or the "Company") (TSX-V: NBVA, OTC: NBAF) announces that it intends to settle debt with a creditor of the Company (the “Creditor”) through the issuance of common shares of the Company (the “Debt Settlement”). All dollar amounts in this news release are stated in Canadian Dollars.
The Debt Settlement will consist of the issuance of an aggregate of 56,391 common shares of the Company at a deemed price of $0.931 per common share, in consideration of the settlement of a total of $52,500 in debt owing to the Creditor. The Creditor is at arm’s length to the Company. The issuance of the common shares is subject to the approval of the TSX Venture Exchange.
About Nubeva Technologies Ltd.
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 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).