Data Deposit Box Inc.

  • ISIN: CA2376321048
  • Land: .

Nachricht vom 12.02.2018 | 15:47

Data Deposit Box Announces Successful Completion of Warrant Exercise Incentive Program

DGAP-News: Data Deposit Box Inc. / Key word(s): Miscellaneous

12.02.2018 / 15:47
The issuer is solely responsible for the content of this announcement.


Toronto, Ontario--(Newsfile Corp. - February 12, 2018) - Further to its press releases dated December 29, 2017 and January 11, 2018, Data Deposit Box Inc. (CSE: DDB) (OTC Pink: DDBXF) (FSE: 2DD) ('Data Deposit Box') is pleased to announce the successful completion of its previously announced warrant exercise program (the 'Incentive Program') designed to encourage the early exercise of outstanding unlisted common share purchase warrants (the 'Warrants').

Under the terms of the Incentive Program, in order to encourage the early voluntary exercise of the Warrants, for a period from December 29, 2017 until 4:30 p.m. (Toronto time) on January 31st, 2018 (the 'Early Exercise Period'), Data Deposit Box offered to all non-US resident holders of Warrants, for each Warrant exercised under the Incentive Program, one (1) additional common share purchase warrant (each, an 'Incentive Warrant') at no additional cost. Each Incentive Warrant will entitle the holder to acquire one common share in the capital of Data Deposit Box at a price of $0.25 per share for a period of two (2) years from the date of issuance.

The Incentive Program successfully resulted in the exercise of 23,797,412 Warrants raising aggregate proceeds of $1,661,991. Accordingly, pursuant to the terms of the Incentive Program, Data Deposit Box issued an aggregate of 23,797,412 Incentive Warrants, each expiring on February 1, 2020.

About Data Deposit Box

Providing advanced, cloud-based data back-up since 2002, Data Deposit Box is one of the world's first and foremost data backup, protection and recovery providers for Managed Service Providers (MSPs), as well as Small and Medium Businesses (SMBs). Data Deposit Box offers full white labeling for larger MSPs. Based in Toronto, Canada, Data Deposit Box is trusted by over 5,000 MSPs, SMBs and personal endusers world-wide to make data back up as simple and smart as possible. Our recently introduced Secure Email Archiving has great potential in the larger Enterprise market as well as in our existing market. Data Deposit Box has refactored components of its existing cloud platform to develop products for the Blockchain industry. LiveLink Web, patented web based remote device management software that does not require a Virtual Private Network (VPN), is being released in Q1 of 2018. The applications for this product cross many OEM markets such as Network Attached Storage (NAS), printers, routers, firewalls, etc. Applications also exist for the Internet of Things (IOT) which involves products for the Consumer, Business and Public markets.

For More Information Contact:

Tim Jewell, CEO Data Deposit Box Inc.
Telephone: 416-238-7596
Email: tjewell@datadepositbox.com

This news release contains certain 'forward-looking information' within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate', 'may', 'will', 'would', 'potential', 'proposed' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/32743


12.02.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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