Media Release: Excalibur Launches Prospectus To Raise Up To $8 Million
Excalibur launches Prospectus ahead of RTO by Dropsuite
- Dropsuite is a global Cloud based software platform
- Enables SMEs worldwide the ability to backup, recover and protect their digital assets
- 100,000 paid users reached in August 2016, plus 500% revenue growth achieved in 2016
- Expanding global footprint & top tier reseller partners
- Secured by military grade security to ensure customer data is protected
Excalibur Mining Limited (ASX: EXM) (Excalibur) is pleased to announce the lodgement of the Dropsuite Limited (Dropsuite) Prospectus with Australia’s securities regulator, the Australian Securities and Investments Commission, in respect of the Dropsuite reverse takeover (RTO) of Excalibur.
The Excalibur/Dropsuite Prospectus offers up to 80 million shares at an issue price of $0.10 per share, to raise up to AU$8 million, with a minimum share subscription of AU$5 million.
Dropsuite expects the RTO of Excalibur Mining to be completed by 30 November 2016 and to be reinstated and begin trading on the ASX by this date.
In commenting on the Prospectus’ launch, Dropsuite’s Chief Executive Officer, Charif Elansari said:
“We are very pleased to be in the process of transitioning into a listed company and will continue to work with enthusiasm and dedication in order to reach this key company milestone.
“There are 30,000 websites hacked daily, and 62% of SMEs do not routinely back up their data. We have developed cost effective backup and recovery solutions that are both feature-rich and complexity free, to help users protect and backup their website, email, mobile or server data.”
Dropsuite has partnered with some of the largest global names in the hosting and IT service provider market, including GoDaddy, the world’s largest domain name registrar, Ingram Micro, the world’s largest distributor of computer and technology products, and Singtel, the largest telco in Singapore. Dropsuite also partners with many leading hosting providers such as GMO Internet (Japan), Hostpapa (Canada), Blacknight (Ireland), and OZ Hosting (Australia).
Dropsuite was founded in 2012 and is headquartered in Singapore, with a sales presence in the United States, Europe, Japan, Ireland and Australia. It has developed the software using its highly qualified and experienced in-house engineering team. In 2016, Dropsuite launched professional-grade business continuity services such as server backup and email archiving — via cloud based and on-premise integrations.
Melbourne based Novus Capital Limited is acting as the Lead Manager and Sponsoring Broker to Dropsuite.
For more information please visit: www.dropsuite.com
For further information, please contact:
Rod North, Managing Director,
Bourse Communications Pty Ltd
T: (03) 9510 8309, M: 0408 670 706,