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Canadian Cybersecurity Firm Completes Key Acquisition

Source:

A cybersecurity company has completed the second part of its acquisition.

In December, Big Wind Capital Inc. entered into an agreement with Hill Top Security Inc. (HTSI) to license all of Hill Top's assets through an "exclusive, perpetual, worldwide, royalty-free license and acquire 49% of the shares of common stock" of Hill Top through a two-step acquisition process. Under the terms of the agreement Big Wind Capital initially acquired a 25% interest in Hill Top for US$660,000 in February and changed its name to Hilltop Cybersecurity Inc. (CYBX:CSE; BGGWF:OTC.MKTS).

Hilltop recently announced details of the second acquisition. HTSI sold and issued 1,875 HTSI shares to the company, which is equal to 24% of the issued and outstanding HTSI Shares, bringing Hilltop's ownership to 49%. Hill Top also granted to the company a perpetual, worldwide, royalty free license in certain of HTSI's assets, following a license agreement between HTSI and the Hilltop Cybersecurity.

Hilltop Cybersecurity Inc. also completed a number of actions within the second acquisition. Hilltop paid US$1,500,000 and issued to HTSI 49,136,658 convertible common shares. Hilltop Cybersecurity Inc. also issued 1,200,000 common shares of the company to certain consultants and employees of HTSI. Additionally, Hilltop Cybersecurity executed and delivered consulting agreements to certain shareholders of HTSI.

Hilltop Cybersecurity is a cybersecurity and cryptocurrency security specialist located in Kelowna, British Columbia. According to the company, it has "has developed a unique, patented, cybersecurity platform, designed to protect businesses from external and internal cyber attack, and has also patented its biometric security solution for crypto-currencies."

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Disclosure:
1) Jake Richardson compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Hilltop Cybersecurity. Click here for important disclosures about sponsor fees.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Hilltop Cybersecurity, a company mentioned in this article.




Piedmont Lithium Ltd.

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Piedmont Lithium Ltd.