SINGAPORE, Nov. 30, 2018 /CNW/
-- Nubeva Technologies Ltd. ("Nubeva" or the
"Company") (TSX-V: NBVA, OTC: NBVAF), announces that
its wholly owned Singapore
subsidiary, CBR Project Pte. Ltd. ("CBR Project") has
cancelled plans to launch its previously announced token
offering.
The token network was being developed to provide cybersecurity
technology outside of North
America. CBR Project's cancelation of the token offering,
and the reimbursement of presales, which will be refunded in
digital currency, is not expected to affect Nubeva's cash
position.
Randy Chou, Nubeva CEO, comments,
"Despite strong interest in the presale phase, CBR Project has
determined that the token offering is untenable due to a broad
based and continued softening of the ICO marketplace, compounded by
a complex and changing regulatory environment. The Company
continues to focus on delivering its products to a North American
market and will expand internationally in due course." Mr. Chou
continued, "We are extremely excited about the positive momentum we
are seeing in our new flagship solution, Nubeva Prisms, which is
where we intend to focus all of our attention and resources. Prisms
was showcased by Microsoft in September at its annual Azure Cloud
conference, demonstrating customer use cases and related features
from Microsoft that Prisms enhances."
About Nubeva Prisms
When companies migrate to the public clouds, they lose real-time
access into their networks. The impact is that the critical tools
they depend upon to monitor security, networks and applications
cannot function, and therefore, businesses face increased exposure
to cyberattacks and limited diagnostics to their infrastructures.
Nubeva Prisms, released in September, 2018, is a breakthrough
solution that restores network access and control inside public
clouds, allowing customers to utilize their strategic tools and
close their security and visibility gaps.
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.
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. 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
SOURCE Nubeva Technologies Ltd.