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CENTENNIAL, Colo., Jan. 24, 2019 (GLOBE NEWSWIRE) -- VirtualArmour International Inc. (CSE:VAI; OTCQB: VTLR; F:3V3) has been requested by OTC Markets Group to comment on certain recent promotional activity encouraging investors to purchase the company’s common shares. The company first became aware of certain promotional third-party newsletter activities through a notification by OTC Markets on January 22, 2019.
Since listing on the OTC Markets Group’s OTCQB on or about October 4, 2017, trading volumes for the company’s common shares on the OTCQB have been until late relatively minimal and sporadic. The company engaged three third-party firms in October 2018 to launch a marketing campaign beginning in January 2019. These firms consisted of JV Public Relations NY, Investor Direct Response Marketing, and Starber Ventures. The campaign was designed to bring the awareness of the investment community to the company’s progress and cybersecurity market opportunity, but in no event did the company authorize any recommendation or encouragement to purchase its stock. Earlier in 2018, the company engaged Capital Market Access to provide investor relations services. All information provided by the company in respect this marketing campaign has already been disseminated to the market via press releases, regulatory filings, its public facing financial landing page and its corporate presentation available on its website.
Trading volumes of the company’s common stock on the OTCQB began to increase on or about January 22, 2019. The company attributes the increase to a number of factors, including to the marketing campaign that began in early January, a company press release issued on January 15, 2019 that provided management commentary about cybersecurity, and the continued advancement of the company’s business as earlier reported, as well as in light of the increasing incidence of cybersecurity breaches by major enterprises as reported in the press.
The company confirms that it and its officers were not, directly or indirectly, involved in any way with the creation or distribution of promotional third-party newsletter materials encouraging investors to buy the company’s stock. The company confirms that it was indirectly involved with the creation and distribution of marketing collateral associated with its investor awareness campaign and had limited editorial control over such content, such as to the factual aspects about the company’s operations and activities.
Further, after inquiry, the company confirms that none of its management, its officers, directors, any controlling shareholders (defined as shareholders owning 10% or more of the company’s securities), or any third-party service providers have, directly or indirectly, been involved in any way (including payment of a third-party) with the creation, distribution, or payment of promotional materials recommending the purchase of the company’s common stock. Additionally, none of the company's officers, directors and, to the knowledge of the company, no controlling shareholders or third-party service providers sold or purchased shares of common shares of the company within the last 90 days.
The company would like to take this opportunity to assure its investors and the public that any materials being published by the company, including all reports and other filings with the Canadian Securities Exchange and the System for Electronic Document Analysis and Retrieval in Canada (SEDAR), the Securities and Exchange Commission, the OTC Markets, and all information published in the company's press releases, are true and correct in all material respects.
In addition, the company’s officers, directors, employees, and consultants are subject to a strict insider trading policy that prohibits any purchase or sale of securities of the company if such person is in possession of material non-public information, and prohibits any such person from disseminating such material, non-public information about the company.
In connection with the company’s financing through Regulation A+ that was qualified by the Securities and Exchange Commission on March 5, 2018, the company issued 7,830,000 shares of common stock for gross proceeds of $1,565,900 at $0.20 per share, which constituted a discount to the current market rate at the time of the issuance.
VirtualArmour International is a global cybersecurity and managed services provider that delivers customized solutions to help businesses build, monitor, maintain and secure their networks.
The company maintains 24/7 client monitoring and service management with specialist teams located in its U.S. and UK-based security operation centers. Through partnerships with best-in-class technology providers, VirtualArmour delivers leading hardware and software solutions for customers that are both sophisticated and scalable, and backed by industry-leading customer service and experience. VirtualArmour’s proprietary CloudCastr client portal and prevention platform provides clients with unparalleled access to real-time reporting on threat levels, breach prevention and overall network security.
VirtualArmour services a wide range of clients, which include Fortune 500 companies and several industry sectors in over 30 countries across five continents. For further information, visit www.virtualarmour.com.
Im portant Cautions Regarding Forward Looking Statements
This press release may include forward-looking information within the meaning of Canadian securities legislation and U.S. securities laws. This press release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. The forward-looking information is based on certain key expectations and assumptions made by the management of VirtualArmour. Although VirtualArmour 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 as VirtualArmour cannot provide any assurance that it will prove to be correct.
Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the success of this partnership, the future deal potential from this partnership, future interest in such partnerships, competitive risks and the availability of financing. These forward-looking statements are made as of the date of this press release and VirtualArmour 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.
VirtualArmour International Inc.
Tel (720) 644-0913
Ronald Both or Grant Stude
Tel (949) 432-7566