VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 1, 2017) - Identillect Technologies Corp. (the "Company" or "Identillect") (TSX VENTURE:ID) is pleased to announce that Robert Mintak has joined the Company's Board of Directors. Mr. Mintak has 20+ years' experience in corporate management, with a specific emphasis on strategic development and corporate governance. Over the past 10 years, he has served as a senior officer and director of several publicly traded companies. Mr. Mintak was one of the founders of Pure Energy Minerals, served as the company's CEO from 2013 to 2016 and most recently as Executive Chairman. During his tenure with Pure Energy Minerals, he raised several million dollars for the company's treasury, built a world-class team, launched the exploration and development program, and was instrumental in negotiating a conditional supply agreement for the Giga-Factory. Most recently, under Mr. Mintak's leadership, Pure Energy Minerals was recognized as the top mining company in the 2016 TSX Venture 50.
The Company also announces that it will complete a non-brokered private placement of 3,200,000 common shares at a price of $0.10 per share for aggregate proceeds of $320,000. The shares will be subject to a statutory hold period of four months and a day from the date of issuance. Closing of the private placement is subject to the approval of the TSX Venture Exchange.
Todd Sexton, CEO of the Company stated, "We are very pleased to have Robert join the Company, and look forward to utilizing his experience and success in the public markets as we continue to grow the Company's subscriber and revenue base."
The Company has also announced the grant of 450,000 stock options, exercisable at eleven cents per share, for a period of five years.
Identillect's Delivery Trust™ proprietary e-mail encryption technology targets organizations of all sizes, and is sold to medical professionals on a monthly subscription basis. Delivery Trust™ can be accessed by medical professionals on a vast array of electronic communication devices. All messages and their attachments are secured with patented, state-of-the-art encryption technology while providing complete control of the message with the click of a button, ensuring safety and control while in transit.
Since commercializing the product, Identillect has quickly grown its subscriber base and is becoming recognized in the security industry as a top e-mail security provider. Visit https://identillect.com/ to learn more.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.