SEOUL, South Korea,
July 16, 2018 /CNW/
-- Nubeva Technologies Ltd. ("Nubeva" or the
"Company") (TSX-V: NBVA, OTC: NBVAF), is pleased to
announce that its wholly owned subsidiary, CBR Project Pte. Ltd.
("CBR Project") has commenced its offering (the
"Pre-Sales") of rights to receive, for no additional
consideration, future tokens ("Future Token Interests") as
the initial step of its previously announced planned offering of
CST cybersecurity service tokens (the "Token Offering"). The
Token Offering will be undertaken in order to develop a
best-of-breed cloud-based security network using Nubeva's
Blockchain Routing IP platform to enable a broad consumer base to
purchase these cloud-based security services (the "Token
Network").
Nubeva CEO Randy Chou said, "Due
to strong interest, we have decided to proceed beyond the initial
phase of raising US $3 million and
commence our second phase leading up to the Token Offering."
Nubeva has incorporated CBR Project, located in Singapore, to establish the Token Network and
issue Cybersecurity Service Tokens. The use of proceeds of the
Pre-Sales, originally announced on April 24,
2018, will be used to fund costs associated with the Token
Offering, to enable the CBR Project to fund its purchase from
Nubeva a limited purpose open source license for its Blockchain
Routing IP software and to complete development of the Token
Network. Nubeva made their Blockchain routing IP software available
in April 2018, in connection with the
development of the Token Network.
Speaking on July 13 from the
Korean Blockchain Summit in Seoul
where the CBR project received standout recognition, Chief
Marketing Officer, Steve Perkins, stated, "We are enthusiastic
about the Token Network's potential to provide an important
cybersecurity technology and cybersecurity consumption and
distribution model to meet market demand outside of North America for cyber security securities.
By combining Nubeva's Stratus Edge Security Platform with the Token
Network, we believe we will be able to provide enterprises with a
means to run best-of breed security in the public cloud while
simultaneously enabling access to, and application of security
services in a frictionless and economic manner. The Token Network
gives us the potential to bring this capability to a wider market
outside of North America where we
believe there is significant unmet demand."
About the Token Network
The Token Network, is planned to be a decentralized, transparent
digital cybersecurity network powered by Nubeva blockchain
technology to provide security protection on-demand, as-a-service.
Nubeva's blockchain routing simplifies and standardizes the
connections among users, systems and devices with security services
transparently and seamlessly inserted into the cloud network. It is
anticipated that Cybersecurity Service Tokens ("CST" or the
"Tokens") will be used to obtain access to these
cybersecurity services. CSTs are expected to provide a stable
cooperative funding base for pre-building best-of-breed security
services and capabilities that can then be used on a per-user or
device basis.
Summary: Nubeva subsidiary, CBR Project Pte. Ltd., has
started its Cybersecurity service token Pre-Sale offering.
Individuals and organizations outside the US and Canada are eligible to participate in this new
and innovative token Pre-Sale, subject to meeting eligibility
requirements under local securities laws.
Quotable:
- Nubeva's Chief Marketing Officer, Steve Perkins, announced
from Seoul, Korea today, "The
Token Network is expected to transform the cybersecurity
technology consumption and distribution model, enabling access to
and the application of the best-of-breed security services in an
on- demand, frictionless and economic manner to a wider market
outside North America."
News Facts:
- Nubeva is sponsoring and presenting at the Korea Blockchain
Summit and the Beyond Blocks Summit.
- Nubeva subsidiary, CBR Project Pte. Ltd., has started pre-sales
of its Cybersecurity service token offering for individuals and
organizations outside North
America.
- The Cybersecurity Service Token Network is a decentralized,
transparent digital cybersecurity network powered by Nubeva
blockchain technology. It is planned to provide security protection
on-demand, as-a-service.
- Nubeva's blockchain routing IP simplifies and standardizes the
connections among users, systems and devices. It facilitates
security services to be transparently and seamlessly inserted into
a user's cloud network.
About CBR Project PTE Ltd.
CBR Project, a wholly owned subsidiary of Nubeva Technologies
Ltd. Located in Singapore, plans
to create a new, international cybersecurity ecosystem marketplace
of security providers, researchers, support resources and
ultimately customers ("The Network") built on a foundation
of CBR-based security solutions. For the Network, the CBR Project
plans to introduce a new currency – Cybersecurity Service Tokens or
CST. CSTs are expected to form a trusted, branded currency to
attract and engage customers, solution providers, research and
support resources. The CBR Project intends to form a highly
networked, focused and leveraged system that effectively
crowdsources better security solutions and services, at scale. In
doing so, the CBR Project believes it can achieve its vision and
end goal of "best of breed security to everyone at affordable
costs."
About Nubeva Technologies Ltd.
Nubeva Technologies Ltd. develops Software-as-a-Service
("SaaS") software and services that enable enterprises to
run best-of-breed cybersecurity in public cloud
environments. Nubeva's products provide enhanced
visibility and control over network traffic and simplified
automation and operation that is essential to run top-tier security
technologies and services in the cloud easily and at low costs.
With Nubeva, organizations can leverage existing policies,
technologies and operations and accelerate their move to the cloud
with confidence. San Jose, CA-headquartered Nubeva is
committed to the vision of dramatically broader and lower cost
availability of the world's best security to confront the rising
cyber-crime threat. Visit www.nubeva.com for more
information.
About the Token Offering
The Pre-Sales and the Token Offering will be completed under the
laws of Singapore and will be
subject to receiving the approval of the TSX Venture
Exchange. Residents of Canada
and the United States, and persons
otherwise subject to Canadian and United
States securities laws, are not eligible to participate in
either the Pre-Sale of Offering or the Token Offering. In addition,
the ability of Nubeva to proceed will be conditional upon being
able to ensure compliance with applicable laws, including
applicable securities laws of the United
States and Canada. There is no assurance that these
conditions will be satisfied. In addition, there is no
assurance that any of the planned offerings will be successful in
raising any funds to complete the development of the Token Network.
If completed and if the Token Offering Proceeds, the Future Token
Interests will automatically convert into Tokens for no additional
consideration upon the launch of the Token Network.
No Future Token Interests or Tokens may be sold or issued,
directly or indirectly, to any United States person (as
defined by Section 7701(a)(30) of the Code), or any resident
of the United States or Canada. In addition, any
Future Token Interests or Tokens that may be issued may not be
sold, held or transferred to any person who is a resident in the
United States or Canada at any time in the future,
or at all. None of the Future Token Interests or Tokens have been
or will be registered under the United States Securities Act of
1933, as amended, or qualified by a prospectus filed with
securities regulatory authorities in Canada. This news release
does not constitute an offer to sell or the solicitation of an
offer to buy any securities in any jurisdiction where such offer or
sale is prohibited or unlawful.
Forward Looking Statements
This news release contains "forward-looking information" within
the meaning of applicable securities laws relating to the Company's
business plans and the outlook of the cybersecurity industry.
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 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. Specifically, there is no assurance that the
Pre-Sale Offering or the Token Offering will be completed or as to
the amount of proceeds that will be raised. In addition, there is
no assurance that the required regulatory approvals can be
obtained. 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 in respect of 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 further information, please contact:
Nubeva Technologies Ltd.
Steve Perkins
Chief Marketing Officer
1(844)538-4638
Marcel Valentin, Investor
Relations
Marcel@SophicCapital.com
1(647)697-0498
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SOURCE Nubeva Technologies Ltd.