Nubeva Announces Closure of 1.7 Million Dollar Contract

SAN JOSE, Calif., June 07, 2023 (GLOBE NEWSWIRE) -- Nubeva Technologies (TSX-V: NBVA, OTCQB: NBVAF), a leading provider of ransomware protection solutions, is pleased to announce the successful closure of a three-year contract valued at over 1.7 Million dollars CAD on June 5, 2023. The customer, who wishes to remain anonymous for strategy and security reasons, is a leading global technology company that serves over 40 of the top 50 Fortune® Global 500.

"We are thrilled to close another seven-figure deal," said Steve Perkins, CMO at Nubeva. "This agreement highlights the confidence in our technologies and Nubeva's ability to deliver on our promises."

The closure of this significant agreement showcases Nubeva's continued success in securing substantial contracts and reflects its dedication to providing cutting-edge solutions that address critical challenges facing all organizations. Nubeva will be able to fulfill the requirements of this deal using existing resources, further exemplifying its operational efficiency and scalability through its adoption of artificial intelligence (AI).

"With our high gross margins, we are well-positioned to meet the needs of our customers while driving sustained growth and innovation," added Perkins. "Our focus remains on empowering organizations to effectively combat the ransomware threat facing businesses today."

Contact Nubeva to learn more about Nubeva's Ransomware Reversal Solution.

About Nubeva Technologies

Nubeva Technologies provides next-generation decryption solutions for faster, lower-cost recovery from ransomware attacks. Its mission is to reduce downtime costs and damages so businesses never pay ransoms again.

Nubeva's ransomware reversal software is available to end-user enterprises, managed security service providers, incident responders, and cybersecurity solution manufacturers. For a private briefing on Nubeva's ransomware decryption solutions, contact us.

Forward-looking statements

This news release contains "forward-looking information" and "financial outlook" within the meaning of applicable securities laws relating to the company's business plans, the outlook of the cybersecurity industry and the expectation that the company will be cash flow positive for calendar 2023. Although the company believes in light of the experience of its officers and directors, current conditions and expected future developments, and other factors that have been considered appropriate that the expectations reflected in this forward-looking information and financial outlook are reasonable, undue reliance should not be placed on them because the company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements for reasons relating to the development and adoption of the company's technology and its input and capital cost requirements, among other factors. The statements in this press release are made as of the date of this release, and the company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The company undertakes no obligation to comment on analyses, expectations, or statements made by third parties regarding the company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).

Neither the TSX venture exchange nor its regulation services provider (as that term is defined in the policies of the TSX venture exchange) accepts responsibility for the adequacy or accuracy of this release.

For additional information or to schedule interviews, contact:

Steve Perkins
Chief Marketing Officer, Nubeva
[email protected]
(714) 261-9948