Calgary, Alberta-based JAWS Technologies has established a $7 million equity line of credit with Bristol Asset Management of California, which exceeds JAWS Technologies’ total current capitalization.
JAWS L5 Data Encryption, which claims to be 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.
“We feel that this high level of participation is warranted due to the company’s exceptional market potential,” Paul Kessler, President of Bristol, said. “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.”
“It is somewhat unusual for a financing to exceed the total market capitalisation of a company, in this case nearly three times,” said Robert Kubbernus, President of JAWS Technologies.
“I think this demonstrates the merits of our performance to date and the potential our financial partners have identified in our Company. This equity line of credit will be employed as necessary, primarily to further sales growth and expansion.”