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Secure Blockchain Development Corp. — Regulatory Filings 2021
Dec 29, 2021
44561_rns_2021-12-29_83d28e54-feb7-4ae1-9613-fdf434c08169.pdf
Regulatory Filings
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N e w s R e l e a s e
Identillect Announces Financing
Irvine, CA – December 29, 2021 – Identillect Technologies Corp. (the "Company" or "Identillect") (TSX-V: ID) (Frankfurt: 8ID), a trusted leading provider of compliant email security, announces that it intends to complete a non-brokered private placement of up to 66,666,667 common shares at a price of $0.015 per common share (the “ Financing ”) for gross proceeds of up to $1,000,000.
Proceeds of the Financing will be used as detailed below for operations and to cover general and administrative costs for the next six months.
| Financing | $1,000,000 |
|---|---|
| Estimated useof Financing: | |
| Accounting fees | 54,000 |
| AGM | 10,000 |
| Audit fees | 70,000 |
| Legal fees (related party) | 10,000 |
| Management salaries | 60,000 |
| Payroll | 58,000 |
| TSXV filing and transfer agent fees | 11,000 |
| Loans | 150,000 |
| Loans (related parties) | 500,000 |
| Outstanding trade payables | 72,000 |
| Unallocated workingcapital | 5,000 |
| Total use of Financing | $1,000,000 |
The above figures are estimates only, and there may be circumstances in which the Company is required to reallocate proceeds of the Financing based on the operational needs of the Company, or in the event the Financing is not completed in full. At this time, the Company does not propose to make any payments to related parties (other than as noted above), although may in the future elect to compensate related parties for services rendered to the Company.
The Company anticipates that some creditors of the Company may elect to accept common shares of the Company in lieu of cash. If that is the case, amounts owing would be settled in common shares at a deemed price of $0.015, and the size of the Financing would be reduced by a corresponding amount.
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N e w s R e l e a s e
All common shares issued will be subject to a four-month-and-one-day statutory hold period from the date of issuance. Closing of the Financing and completion of any debt settlement transactions remains subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange.
About Identillect
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.
Todd Sexton Chief Executive Officer Tel: (949) 468-7878 Email: [email protected]
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 forwardlooking 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.