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GlobeX Data to raise up to C$2.2M to fund Sekur expansion in the US

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GlobeX Data Ltd (OTCQB:SWISF) (CSE:SWIS) (FRA:GDT) is raising nearly C$2.2 million to help market its Sekur messaging system in the US. 

The placement, which consists of nearly 7.3 million units priced at C$0.30 each, was upsized from its original C$2.1 million target. 

Sekur’s suite of communications products offer an independent, private and secure means of communications through secure messaging, voice record transfer, voice and video conferencing, and email through GlobeX’s proprietary technology and its Swiss-based servers. 

READ: GlobeX Data signs agreement for a distribution deal in Sri Lanka with Dialog Broadband Networks (Private) Limited

Under the terms of the private placement, each unit consists of one share and one-half of one share purchase warrant exercisable $0.50 per share for a two-year term.

“We are very pleased with the demand we have received from our investors for this private placement,” GlobeX CEO Alain Ghiai said.

The additional placement gives the company extra capabilities to deploy its solutions to the US mass market in the next two years, according to Ghiai.

“Our solutions are ready to be deployed the US mass markets, and we are in an excellent position to move forward as planned,” the CEO added. “We plan to increase our US marketing budget to US$700,000 for the remainder of 2021, and possibly increase it more, depending on the results of our media and marketing efforts. The company has all the cash to execute its plan for 2021 and looks forward to bring true Swiss privacy and security to US consumers and businesses.”

The offering has been fully subscribed and is now closed, according to a statement. Net proceeds to the company were C$2,054,977.90.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Story by ProactiveInvestors


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