CipherLoc Corporation: Cipherloc Announces $6.4 Million Offering of Common Stock

CipherLoc Corporation: Cipherloc Announces $6.4 Million Offering of Common Stock
AUSTIN, TX / ACCESSWIRE / April 7, 2021 / Cipherloc Corporation (OTCQB:CLOK) ("CipherLoc"), a developer of advanced encryption technology, today announced entry into a Securities Purchase Agreement with gross proceeds to the Company expected to be approximately $6.4 million before deducting offering expenses payable by the Company.
Said David Chasteen, Chief Executive Officer, "We believe that post-quantum encryption will be one of the largest and most critical technology migrations of the next several years. We intend to remain true to our lean operating approach, but will now have the capital resources to build out Cipherloc's organization and further increase our commercialization activities. This capital is particularly important in light of our recent announcements and additional progress with key partners as we advance the application of our quantum resistant and FIPS 140-2 certified Polymorphic Encryption Core (PEC) in multiple potential applications."

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