To All - Another financing
JAWS Technologies Earns $7,000,000 Financing
PR Newswire - October 05, 1998 13:04
CALGARY, Oct. 5 /CNW-PRN/ - JAWS Technologies Inc. (NASD-OTC BB- ''JAWZ'') is pleased to announce that the Company has established a $7,000,000 equity line of credit with Bristol Asset Management L.L.C. of California.
''We are pleased to make this additional commitment to JAWS following our initial financial interest. We feel that this high level of participation is warranted due to the company's exceptional market potential. They have demonstrated rapid growth, world class products and service offerings, and have driven to contracts and revenues in a very short period of time,'' said Mr. Paul Kessler, President of Bristol.
Mr. Robert Kubbernus, President of JAWS Technologies, said, ''It is somewhat unusual for a financing to exceed the total market capitalisation of a company, in this case nearly three times. I think this demonstrates the merits of our performance to date and the potential our financial partners have identified in our Company. We are pleased to continue to partner with Bristol. This equity line of credit will be employed as necessary, primarily to further sales growth and expansion.
JAWS L5 Data Encryption, the world's strongest security encryption software, addresses the increasing frequency of unauthorised access to digital information and is the industry's first encryption software product with 4096 bit key strength. JAWS L5 is described by experts as being statistically unbreakable. The JAWS L5 software application quickly encrypts files as a means to control confidential information stored on desktop PCs, handheld devices and networks and to ensure security of Internet transactions and remote file access.
Barrie Einarson
bbruin@home.com
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