TORONTO, Jan. 11, 2018 (GLOBE NEWSWIRE) — Data Deposit Box Inc. (“Data Deposit Box”) (CSE: DDB, OTCQB: DDBXF, Frankfurt: 2DD), is pleased to announce the Warrant Exercise Incentive Program has been very successful.
The company has received over $1.2M in proceeds from the exercise of warrants. Some of the proceeds were used to eliminate all outstanding debt and remove the GSA in place from our senior lender.
Said Tim Jewell, CEO of Data Deposit Box: “Our team has done a great job enhancing our core products and bringing new products to market. Being debt free with a strong cash balance and cash flow positive will allow us to focus on our core business and our new lines of business (Blockchain, Secure Email Archiving and LiveLink).”
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.
Data Deposit Box is using components of its existing robust platform to develop products for the Blockchain industry.
For More Information, Contact:
CEO Data Deposit Box Inc.
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.