SAN JOSE, Calif., April 8, 2021 – Nubeva Technologies Ltd. (TSX-V: NBVA) (“Nubeva” or the “Company”), a developer of decryption software that broadens network traffic security and visibility, is pleased to announce that it has closed its previously announced non-brokered private placement (the “Private Placement”) of 2,929,687 units (“Units”) at a price of $0.512 per Unit for gross proceeds of $1,500,000. All dollar amounts in this news release are stated in Canadian Dollars.
Each Unit is comprised of one common share of the Company (a “Share”) and one half of a common share purchase warrant (“Warrant”). Each whole Warrant entitles the holder to acquire a Share at a price of $0.80 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.
There Company did not pay any commissions or finder’s 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. 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).
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.
For additional information, please contact Nubeva Technologies Ltd.