GlobeX Data Issues Stock Options to Directors and Officers

Rhea-AI Summary

GlobeX Data Ltd. (OTCQB:SWISF) announced the cancellation and re-issuance of 6,300,000 stock options to its directors and officers. The original options, exercisable for five years, were cancelled on June 26, 2021, and re-issued on July 27, 2021, maintaining the exercise price at CA$0.50 per share for a ten-year period. The options are granted under the company's stock option plan and are subject to the usual vesting policy. GlobeX specializes in secure communications and data management solutions.

Positive

• Re-issuance of 6,300,000 stock options signals management's commitment to long-term performance.
• Options have a favorable exercise price of CA$0.50, which may incentivize directors and officers to drive company performance.

Negative

• Cancellation of previous options may raise concerns about management's confidence in future performance.

TORONTO, ON and NEW YORK, NY / ACCESSWIRE / July 27, 2021 / GlobeX Data Ltd. (OTCQB:SWISF)(CSE:SWIS)(FRA:GDT) ("GlobeX" or the "Company"), the leader in Swiss hosted secure communications and secure data management, announces that on June 26 2021 it has cancelled 6,300,000 stock options issued to officers and directors of the Company and has re-issued as of July 27 2021, the same number of options at the same price of CA$0.50 per share to the same directors and officers of the Company. All options were granted under the company's stock option plan and are exercisable for a period of ten years at a price of CA$0.50 per share. The previous options were exercisable for a period of five years at a price of CA$0.50 per share They are subject to the company's customary vesting policy.

About GlobeX Data Ltd.
GlobeX Data Ltd. is a Cybersecurity and Internet privacy provider of Swiss hosted solutions for secure communications and secure data management. The Company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted e-mails, and secure communication tools. GlobeX Data Ltd. sells its products through its approved wholesalers and distributors, and telecommunications companies worldwide. GlobeX Data Ltd. serves consumers, businesses and governments worldwide.

On behalf of Management
GLOBEX DATA LTD.
Alain Ghiai
President and Chief Executive Officer
+1.416.644.8690
corporate@globexdatagroup.com

For more information, please contact GlobeX Data at corporate@globexdatagroup.com or visit us at https://globexdata.com .
For more information on Sekur visit us at: https://www.sekur.com .

Forward Looking Information
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ('forward-looking statements'). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as 'anticipate', 'achieve', 'could', 'believe', 'plan', 'intend', 'objective', 'continuous', 'ongoing', 'estimate', 'outlook', 'expect', 'project' and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions 'may' or 'will' occur. These statements are only predictions. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guaranteeing future performance. GlobeX cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond GlobeX's control. Such factors include, among other things: risks and uncertainties relating to the future of the Company's business; the success of marketing and sales efforts of the Company; the projections prepared in house and projections delivered by channel partners; the Company's ability to complete the necessary software updates; increases in sales as a result of investments software development technology; consumer interest in the Products; future sales plans and strategies; reliance on large channel partners and expectations of renewals to ongoing agreements with these partners; anticipated events and trends; the economy and other future conditions; and other risks and uncertainties, including those described in GlobeX's prospectus dated May 8, 2019 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GlobeX undertakes no obligation to publicly update or revise forward-looking information.

SOURCE: GlobeX Data Ltd.

View source version on accesswire.com:
https://www.accesswire.com/657370/GlobeX-Data-Issues-Stock-Options-to-Directors-and-Officers

FAQ

What is the recent stock option announcement from GlobeX Data Ltd. (SWISF)?

GlobeX Data Ltd. announced the cancellation and re-issuance of 6,300,000 stock options to its directors and officers, maintaining an exercise price of CA$0.50.

When were the stock options cancelled and re-issued by GlobeX Data Ltd.?

The options were cancelled on June 26, 2021, and re-issued on July 27, 2021.

What is the exercise price for the new stock options issued by GlobeX Data Ltd.?

The exercise price for the new stock options is CA$0.50 per share.

How long are the newly issued stock options from GlobeX Data Ltd. valid?

The newly issued stock options are valid for a period of ten years.

What is the significance of the stock option changes for GlobeX Data Ltd. investors?

The changes may indicate management's commitment to aligning their interests with shareholder value, although the cancellation of previous options may raise concerns.