SAN JOSE, Calif., November 29, 2021 – Nubeva Technologies (TSX-V: NBVA) (“Nubeva” or the “Company”), is pleased to announce that it has closed a non-brokered private placement (the “Private Placement”) of 550,000 Common Shares at a price of $0.84 per Common Share for gross proceeds of $462,000.00. All dollar amounts in this news release are stated in Canadian Dollars.

The Company did not pay any commissions or finder’s fees in connection with the Private Placement. The Company plans to use the proceeds from the Private Placement for general working capital purposes. All securities issued are subject to a four-month hold period from the date of issuance, which expire on March 30, 2022. The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Randy Chou, CEO, President and a director of the Company, participated in the Private Placement and purchased 550,000 Common shares, which constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 respecting Protection of Minority Security Holders in Special Transactions (“MI 61- 101”). Directors of the Company who voted in favour of the Private Placement have determined that the exemptions from the formal valuation and minority approval requirements provided for under Sections 5.5(a) and 5.7(1)(a) of MI 61- 101 can be relied on as neither the fair market value of the Common Shares issued to Mr. Chou nor the fair market value of the consideration paid exceed 25% of the Company’s market capitalization. None of the Company’s directors has expressed any contrary views or disagreements with respect to the foregoing. Mr. Chou declared his interest and abstained from voting the approval of the Private Placement. The Company did not file a material change report 21 days prior to the closing of the Private Placement as the details of the participation of the insiders of the Company had not been confirmed at that time.

About Nubeva Technologies Ltd. 

Nubeva develops and licenses proprietary software for the decryption of network traffic. Nubeva’s nextgeneration 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.

Forward Looking Statements

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).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For additional information, please contact:
Nubeva Technologies Ltd.
investorrelations@nubeva.com
1-(844) 538-4638