Vancouver, B.C. / ACCESSWIRE / January 2, 2015 / SecureCom Mobile ("SecureCom", "the Corporation") is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 4,000,000 units of the Corporation (the "Units") at a price of CDN$0.50 per Unit for aggregate gross proceeds of up to $2,000,000. Each Unit will consist of one common share of the Corporation (a "Unit Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one common share ("a "Warrant Share") at a price of $0.75 per Warrant Share at any time until the close of business on the day which is 12 months from the date of issue of the Warrant (the "Expiry Time").
In the event that the common shares of the Company trade at or above $1.00 for a period of twenty-eight consecutive trading days at any time prior to the Expiry Time, the Company at its option may accelerate the Expiry Time by giving thirty days prior written notice (the "Notice") to the warrant holders after the date the Corporation issues a news release informing the warrant holders of such acceleration, and in such a case the Warrants shall expire on the day indicated in the Notice to the warrant holders.
The securities sold under the Private Placement will be subject to restrictions on resale for a period of four months from the date of closing.
Proceeds of the Private Placement will be used in the development of the Company' s software products, administrative and marketing costs, and for general corporate purposes.
The issuance of the Units and listing of the Unit Shares and the Warrant Shares pursuant to the Private Placement is subject to the Canadian Securities Exchanges' and the Deutsche Borse Xetra - Frankfurt Stock Exchange's approval, as applicable.
About SecureCom Mobile Inc.
SecureCom Mobile(TM) develops and markets consumer software and hardware encryption communications products for mobile phones, tablets, and computer-based platforms. Its technology enables people to communicate, in complete privacy, with ease, using voice, text and data messaging. The Company employs cryptographically strong algorithms and protocols to shield communication from surveillance and analysis. Its encryption scheme cannot be circumvented by mobile carriers or other parties, thereby ensuring total privacy.
SecureCom Mobile(TM) products are developed for the Android and Blackberry platforms, and are expected to soon be available for the entire slate of popular OS platforms.