Identillect Receives $1.3M From Warrant Exercise Program
Strong Balance Sheet Positions Company to Accelerate Subscriber Growth
Vancouver, BC – Identillect Technologies Corp. (TSX-V:ID | OTCQB: IDTLF | Frankfurt: 8ID) (the “Company” or “Identillect”) a trusted leading provider of SaaS email security, is pleased to announce that it has received over $1.3 million in financing proceeds from the early exercise of share purchase warrants. A total of 13,126,268 common shares have been issued through the exercise of an equivalent number of warrants at ten cents per share, representing in excess of 80% of all issued and outstanding warrants.
Identillect CEO Todd Sexton stated, “The early exercise of these warrants strengthens our balance sheet and provides us with additional capital that we will utilize to accelerate our growth by expanding marketing and sales programs which have already been implemented.”
No commissions or placement fees have been paid in relation to the funds received from this warrant exercise. Identillect extends its thanks to its loyal shareholders for their continued support through this early exercise of warrants.
Identillect Technologies is the leading provider of email encryption service Delivery Trust™, empowering enterprises of all sizes to protect their business and their client’s critical information against cyber security attacks.
Delivery Trust™ is an award winning, multi-platform plug-in, which gives users complete control of their emails, for one low price, one simple integration, complies with all regulations and most importantly provides peace of mind.
For more information, or your free trial, please visit www.identillect.com
On Behalf of the Board of Directors of:
IDENTILLECT TECHNOLOGIES CORP.
Chief Executive Officer
Identillect Technologies Corp.
Tel: (949) 468-7878
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.