SAN JOSE, Calif., June 15, 2023 (GLOBE NEWSWIRE) -- Nubeva Technologies (TSX-V: NBVA, OTCQB: NBVAF)(“Nubeva” or the “Company”), today announced a six-month marketing and consulting contract with Toronto-based marketing firm, Outside of the Box Capital Inc. ("Outside The Box") to enhance its investor relations and marketing functions.
“Our engagement with Outside The Box is another step in our efforts to enhance communication with our current investor community and expand visibility to a greater audience,” said Randy Chou, CEO at Nubeva. “By effectively communicating our value proposition and increasing our visibility, we aim to drive investor interest and participation, improve liquidity, and ultimately deliver returns for our shareholders."
"We are excited to represent Nubeva as their Ransomware Reversal technology is groundbreaking,” said Jason Coles, CEO of Outside The Box Capital Inc. “By spotlighting Nubeva's innovations and market potential across diverse platforms and communities, we believe we can powerfully elevate the company's reach and narrative," said Jason Coles, CEO of Outside The Box Capital Inc.
In connection with the agreements starting on June 12,2023, Nubeva paid OTBC a cash fee of $100,000, and if the agreement is not terminated during the initial term, the engagement will continue for an additional six months for another cash fee of $100,000. Nubeva has issued OTBC 200,000 stock options to purchase common shares of Nubeva. The options vest in equal quarterly installments over 12 months, with an exercise price of $1.00 and a one-year term. OTBC has no direct relationship with the Company other than as set out in this release.
On June 13, 2023, the Company has cancelled a total of 175,000 incentive stock options ("Options") that were granted to Randy Chou, Nubeva's Chairman and CEO, under its share option plan. These Options, which had an exercise price of $1.15 and an expiry date of July 26, 2027, were voluntarily surrendered by Mr. Chou to support the company and this contract, without any further consideration.
The engagement of OTBC remains subject to TSX Venture Exchange approval.
About Nubeva Technologies
Nubeva Technologies provides next-generation decryption solutions for faster, lower-cost recovery from ransomware attacks. Its mission is to reduce downtime costs and damages so businesses never pay ransoms again.
Nubeva’s ransomware reversal software is available to end-user enterprises, managed security service providers, incident responders, and cybersecurity solution manufacturers. For a private briefing on Nubeva’s ransomware decryption solutions, contact us.
Forward-looking statements
This news release contains “forward-looking information” and “financial outlook” within the meaning of applicable securities laws relating to the company's business plans, the outlook of the cybersecurity industry and the expectation that the company will be cash flow positive for calendar 2023. 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 and financial outlook 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 for reasons relating to the development and adoption of the company’s technology and its input and capital cost requirements, among other factors. 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 regarding 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) accepts responsibility for the adequacy or accuracy of this release.
For additional information or to schedule interviews, contact:
Steve Perkins
Chief Marketing Officer, Nubeva
Sperkins@nubeva.com
(714) 261-9948
