Nubeva Technologies Ltd. — Capital/Financing Update 2020

Dec 29, 2020

Nubeva Grants Stock Options

SAN JOSE, Calif., December 29, 2020 -- Nubeva Technologies Ltd. (" Nubeva " or the " Company ") (TSX-V: NBVA), announced it has granted 3,000,000 stock options to officers and directors of the Company pursuant to the Company’s Share Option Plan.

The options vest over 48 months in equal monthly installments and are exercisable for a period of ten years from the date of grant at an exercise price of $0.45 per share. The total options outstanding are now 7,562,761 or approximately 13% of the Company’s issued and outstanding common shares, which at the date of this release are 56,790,705. This stock option grant is subject to the approval of the TSX Venture Exchange.

About Nubeva Technologies Ltd.

Nubeva Technologies Ltd. has changed the decrypted visibility game with pure, symmetric decryption. Nubeva helps enterprises gain the visibility needed through decryption so they can fully inspect network traffic. The need to inspect data in motion is fundamental to network security and application monitoring and assurance. The shift to SaaS, the cloud, 5G and stronger encryption practices like perfect forward secrecy and TLS 1.3, create new and unique challenges for in-line and out-of-band decryption and visibility solutions. Nubeva re-imagined TLS visibility and created a new solution for the modern era of strong encryption in dynamic and distributed compute environments. Visit 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 additional information, please contact:

Nubeva Technologies Ltd. Juliet Jones, Chief Financial Officer 1(844)538-4638