Data443 Announces Elimination of Warrants as Part of Settlement, Continues Path to Major Market Uplist - Updated
Shareholder Friendly Transaction Removes Significant Derivative Liability Component
RESEARCH TRIANGLE PARK, NC, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Data443 Risk Mitigation, Inc. (“Data443” or the “Company”) (OTCPK: ATDS), a leading data security and privacy software company for ALL THINGS DATA SECURITY, is pleased to announce a settlement agreement with a long-term PIPE investor group resulting in elimination of substantial outstanding warrants.
MAJOR HIGHLIGHTS OF THE TRANSACTION:
- Over 300,000,000 warrants have been cancelled
- The Company has issued fixed-floor promissory notes to three investors in connection to the warrants with no derivative instruments attached for a total of $100,000
- As a result, the Company has eliminated virtually all outstanding warrants and derivative liabilities outstanding pertaining to warrant conditions related to warrant-based instruments
Jason Remillard, CEO of Data443 commented, “This transaction is important for the Company’s continued financial health, removing a major hurdle towards completing further transactions that we are expecting to close in the near future. This transaction is an excellent resolution for the Company and introduces shareholder-friendly fixed debt instruments into our financing mix, that will continue to be important measures as we proceed into our next phases of our business growth. We thank our long-term investors for their continued support of the business and our joint goals!”
BUSINESS UPDATE CONFERENCE CALL
Data443 will hold a Business Update Conference Call and Webcast on Thursday, November 19, 2020 at 4:30pm ET.
Investors and other interested parties may submit their questions ahead of time by emailing Investor Relations at email@example.com.
Online registration is available at: https://info.data443.com/2020q3-business-update
About Data443 Risk Mitigation, Inc.
Data443 Risk Mitigation, Inc. (OTCPK: ATDS), is the de facto industry leader in Data Privacy Solutions for All Things Data Security, providing software and services to enable secure data across local devices, network, cloud, and databases, at rest and in flight. Its suite of products and services is highlighted by: (i) ARALOC, which is a market leading secure, cloud-based platform for the management, protection and distribution of digital content to the desktop and mobile devices, which protects an organization’s confidential content and intellectual property assets from leakage — malicious or accidental — without impacting collaboration between all stakeholders; (ii) DATAEXPRESS, the leading data transport, transformation and delivery product trusted by leading financial organizations worldwide; (iii) ArcMail, which is a leading provider of simple, secure and cost-effective email and enterprise archiving and management solutions; (iv) ClassiDocs the Company’s award-winning data classification and governance technology, which supports CCPA, LGPD, and GDPR compliance; (v) ClassiDocs for Blockchain, which provides an active implementation for the Ripple XRP that protects blockchain transactions from inadvertent disclosure and data leaks; (vi) Data443 Global Privacy Manager, the privacy compliance and consumer loss mitigation platform which is integrated with ClassiDocs to do the delivery portions of GDPR and CCPA as well as process Data Privacy Access Requests – removal request – with inventory by ClassiDocs; (vii) Resilient Access, which enables fine-grained access controls across myriad platforms at scale for internal client systems and commercial public cloud platforms like Salesforce, Box.Net, Google G Suite, Microsoft OneDrive and others; (viii) Data443 Chat History Scanner, which scans chat messages for Compliance, Security, PII, PI, PCI & custom keywords; (ix) the CCPA Framework WordPress plugin, which enables organizations of all sizes to comply with the CCPA privacy framework; (x) FileFacets, a Software-as-a-Service (SaaS) platform that performs sophisticated data discovery and content search of structured and unstructured data within corporate networks, servers, content management systems, email, desktops and laptops; (xi) the GDPR Framework WordPress plugin, with over 30,000 active users and over 400,000 downloads it enables organizations of all sizes to comply with the GDPR and other privacy frameworks; and (xii) IntellyWP, a leading purveyor of user experience enhancement products for webmasters for the world’s largest content management platform, WordPress. For more information, please visit http://www.data443.com.