VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 14, 2017) - Identillect Technologies Corp. (the "Company" or "Identillect") (TSX VENTURE:ID)(OTCQB:IDTLF) is pleased to announce that it has closed the non-brokered private placement (the "Placement") previously announced on March 1, 2017, for aggregate gross proceeds of $320,000.
Todd Sexton, CEO of Identillect, stated, "We are excited about the growth opportunities which are in store for Identillect Technologies in 2017. This private placement advances Identillect's ability to increase awareness of the superior services Identillect offers and just how much control Delivery Trust provides businesses over their communications."
The Placement consisted of 3,200,000 common shares at a price of $0.10 per share. All securities issued in connection with the Placement are subject to a hold period expiring July 15, 2017.
Proceeds of the Placement will be used to expand Identillect's marketing campaign, increasing sales force and for general working purposes.
Identillect (TSX VENTURE:ID)(OTCQB:IDTLF) is a leading provider of proprietary email encryption services. Identillect's Delivery Trust™ email security technology platform empowers individuals and businesses of all sizes a cost effective way to create a more secure digital environment and protect against cyber security risks. Delivery Trust™ is the industries simplest plug and play security solution with a broad range of features including; state of the art encryption technology, restricting email forwarding and printing, receipt confirmation, limiting time available to view, and retracting sent emails. Delivery Trust™ is available for iPhone®, iPad®, Android, Windows and Mac PC's and Laptops and the web's most popular email platforms. 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. To get more information, visit www.identillect.com; follow us on Twitter @IdentillectTech or on Facebook @identillecttechnologies.
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.