Vancouver, British Columbia--(Newsfile Corp. - April 29, 2020) - VPN Technologies Inc. (CSE: VPN) (OTCQB: SRBBF) (FSE: 6GQ1) ("VPN Tech" or "the Company") announces that the Company has cancelled its current financing plans in favor of implementing a more aggressive growth strategy.
President & CEO, Paul Dickson, announced a radical shift in corporate development strategy today resulting in the cancellation of the Company's current financing. Mr. Dickson said, "the current economic environment has changed greatly in these past several weeks. While the new financial realities may disadvantage some businesses, VPN is uniquely positioned to continue to thrive in this global economy."
Dickson also stated that, "the Board of Directors agrees that the time for expansion through asset acquisition is upon us and we need to act swiftly to monetize our current business and identify future acquisitions. By cancelling the Company's current financing, VPN is positioned to develop a much more aggressive and assertive development strategy. We expect a near term return to the capital markets with a program dedicated to strong growth fundamentals which rewards our clients, investor base and financial partners."
About VPN Technologies Inc.
VPNTech is a publicly traded company with a focus on rapid growth within the cyber security sector. The Company already owns BladeVPN and GamerVPN and now seeks to scale up operations to meet the massive online demand created by the current world health pandemic.
To learn more about VPN Technologies, please visit www.vpntech.ca.
On Behalf of the Board,
President & CEO
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of VPN Technologies Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The CSE has not reviewed, approved or disapproved the content of this press release.
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