Vancouver, British Columbia--(Newsfile Corp. - May 13, 2020) - VPN Technologies Inc. (CSE: VPN) (OTCQB: SRBBF) (FSE: 6GQ) ("VPN Tech" or "the Company") announces that it will spin out its other digital assets as the Company shifts its focus exclusively on corporate development within the Virtual Private Network (VPN) industry.
President & CEO Paul Dickson confirmed the strategy, saying, "Either spinning out or selling our other digital assets will help to keep our treasury healthy as we work toward our next VPN acquisition. The sale also confirms for our investors that the shift to creating a recurring revenue financial model in the VPN industry will be our primary corporate development strategy going forward. We are excited with the opportunities in front of us as we seek to reward our shareholders for their loyalty."
Earnings for the VPN industry are forecasted to experience robust growth over the next five years. Big Market Magazine recently published a report predicting the VPN industry would grow from annual sales of $26B in 2018 to more than $70B in 2025. VPN Technologies is currently seeking to consolidate VPN businesses with over 100,000 users to complement our existing VPN platforms BladeVPN.com and GamerVPN.com.
About VPN Technologies Inc.
A virtual private network (VPN) provides online privacy and anonymity for users by creating a private network from a public internet connection. VPN Technologies Inc is a publicly traded company with a focus on rapid corporate growth within the VPN cyber security sector. The Company owns the BladeVPN and GamerVPN platforms and now seeks acquisitions to scale up operations and meet the increased worldwide demand with more people working at home due to the current world health pandemic.
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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