Data Deposit Box Intends to Complete Private Placement …

Data Deposit Box Inc. intends to complete a non-brokered private placement financing of up to 2,500,000 units at a price of $0.20 per unit for gross proceeds of up to $500,000.

Each unit shall be comprised of one common share and one common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of $0.30 per common share for a period of twelve months from the date of issuance, provided, however, that should the closing price at which the common shares trade on the Canadian Securities Exchange (or any other stock exchange in Canada as the common shares may trade at the applicable time) exceed $0.35 for 10 consecutive trading days at any time following the date that is four months and one day after the closing date, the company may accelerate the warrant term upon providing thirty calendar days’ notice.

The securities issued pursuant to the offering will be subject to a four month and one day statutory hold period. The offering is also subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange and applicable securities regulatory authorities. Certain eligible persons may receive finder fees in connection with the Offering in the way of cash commission and/or compensation warrants. The company will use the net proceeds from the offering for marketing, product development, debt reduction and G&A expenses.

Data Deposit Box technologies and solutions are currently used daily by over 200,000 customers, 1,000 resellers, 25 MSPs and private label partners for online backup and recovery, archiving, disaster readiness, secure file sharing and remote access.