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VirtualArmour Announces Initial Closing of its Regulation A+ Offering

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

VANCOUVER, British Columbia, March 20, 2018 (GLOBE NEWSWIRE) -- Premier Managed Services Provider, VirtualArmour International Inc. (the “Company”) (CSE:VAI) (3V3:F) (VTLR:OTCQB) announces that, further to its news releases dated February 2, 2018 and March 6, 2018, it has conducted an initial closing on March 8, 2018 of its previously announced Regulation A+ offering (the “Offering”) for gross proceeds in the amount of US$1.5 million for 7,500,000 common shares at price of US$0.20 per share.

The net proceeds of the Offering will be used to grow market share and for general corporate purposes. The common shares issued in connection with the Offering will be subject to a four-month hold period which will expire on July 9, 2018 in accordance with applicable securities legislation.

About VirtualArmour

VirtualArmour is an global cybersecurity and Managed Services provider that delivers customized solutions to help businesses build, monitor, maintain and secure their networks.

The Company maintains 24/7 client monitoring and service management with specialist teams located in its US and UK-based security operation centers (“SOC”). Through partnerships with best-in-class technology providers, VirtualArmour delivers only leading hardware and software solutions for customers that are both sophisticated and scalable, and backed by industry-leading customer service and experience. VirtualArmour’s proprietary CloudCastr client portal and prevention platform provides clients with unparalleled access to real-time reporting on threat levels, breach prevention and overall network security.

VirtualArmour services a wide range of clients - which include those listed on the Fortune 500 - within several industry sectors, in over 30 countries, across five continents. Further information about the Company is available under its profile on the SEDAR website,
www.sedar.com, on the CSE website, www.thecse.com, and on its website www.virtualarmour.com

Company Contact:

Nick Dinsmoor
Vice President Strategy and Marketing
Office: 720-644-0913
nick.dinsmoor@virtualarmour.com

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation. The forward-looking information is based on certain key expectations and assumptions made by the management of VirtualArmour. Although VirtualArmour believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information as VirtualArmour cannot provide any assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release and VirtualArmour disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.

Source:VirtualArmour International Inc.