TORONTO, ONTARIO--(Marketwired - Jan. 11, 2017) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
SecureCom Mobile Inc. (the " Company ") (CSE:SCE)(CSE:SCE.CN)(OTC PINK:SCQBD)(FRANKFURT:S6UP) is pleased to announce a non-brokered private placement offering (the " Offering ") of 12,162,162 units of the Company (the " Units ") at a price of $0.37 per Unit for aggregate gross proceeds of up to $4,500,000. Each Unit is comprised of one (1) common share in the capital of the Company (a " Common Share ") and one (1) Common Share purchase warrant (a " Warrant "). Each Warrant entitles the holder thereof to purchase one (1) Common Share at an exercise price of $0.49 per share for a period of three (3) years from the date of issuance.
Unless specifically directed in writing by the holder of Units, exercise of the Warrants shall be restricted where such exercise would result in a holder holding greater than 4.99% and/or 9.99% of the outstanding Common Shares of the Company. In such event, the exercise will be limited to an amount that results in a holder receiving a number of Common Shares that, when combined with the other Common Shares of the Company held by such holder, does not exceed 4.99% and/or 9.99% of the outstanding Common Shares of the Company.
The Units and the underlying securities issuable in connection with the Offering are subject to a statutory four month and one day hold period. Closing of the Offering is anticipated to be on or about January 20, 2017, and is subject to receipt of applicable regulatory approvals.
Appointment of New CFO
Mr. Arvin Ramos has informed the Company that he has resigned as Chief Financial Officer of the Company effective immediately to pursue other opportunities. The Company would like to thank Mr. Ramos for his significant contributions to the Company and wishes him all the best with his future endeavors.
The Company is pleased to announce the appointment of Mr. Jonathan Leong as the new Chief Financial Officer of the Company effective immediately. Mr. Leong is a Chartered Public Accountant and Chartered Business Valuator with extensive experience working in a variety of audit, advisory, M&A and valuation engagements. Mr. Leong has been involved in a number of public and private market transactions, including business acquisitions and reverse takeovers, both domestically and internationally. Mr. Leong is an alumnus of Grant Thornton LLP and obtained his Master of Accounting from the University of Waterloo.
About SecureCom Mobile Inc.
SecureCom Mobile Inc. under the brand SecurePair™ develops and markets consumer software and hardware encryption communications products for mobile phones, tablets, and computer-based platforms. Its technology enables people to communicate, in complete privacy, with ease, using voice, text and data messaging. The Company employs cryptographically strong algorithms and protocols to shield communication from surveillance and analysis. Its encryption scheme cannot be circumvented by mobile carriers or other parties, thereby ensuring total privacy. SecureCom Mobile products are available for the Android and coming soon for iOS. See also http://www.securecommobile.com .
SecureCom Mobile Inc. trades on the Canadian Securities Exchange under the symbol SCE and Frankfurt Stock Exchange S6UP WKN#: A2ALMB and the OTC Markets under symbol SCQBD.
Forward Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of SecureCom Mobile Inc. including in respect to proposed Offering. Forward-looking information is based on certain key expectations and assumptions made by the management of SecureCom Mobile Inc., including future plans for the research and development of digital products, including the iOS version, and the effectiveness of the products. Although SecureCom Mobile Inc. believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because SecureCom Mobile Inc. can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. SecureCom Mobile Inc. disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the Canadian Securities Exchange, consumer sentiment towards the Company's products, technology failures, competition, and failure of counterparties to perform their contractual obligations and other risks detailed from time to time in the filings made by the Company in securities filings.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information contained in this news release.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
