GlobeX Data Raises CA$400,000

GlobeX Data Ltd., Swiss company in hosted secure data management and secure communications, announces that its board of directors has approved the issuance of up to 3,333,333 Units (as defined below) at a price of $0.12 per unit for total proceeds of CA$ 400,000 in connection to a non-brokered private placement.

Each unit consists of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase an additional Share at a price of $0.15 per share for a 2-year term.

If, however, at any time following the expiry of the statutory four month hold period, the closing price of the common shares on the Canadian Securities Exchange (CSE) is greater than CA$0.25 for 10 or more consecutive trading days, the company may notify the holder, by way of news release, that the warrants will expire on the 20th business day following the date of such notice, unless exercised by the holder before such date.

The private placement is set to close on or before November 15, 2020.

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