SOUTH BURLINGTON, Vt., Jan. 2, 2013 /PRNewswire/ -- delSECUR CORPORATION is pleased to announce the completion of its non-brokered private placement agreement. The Corporation will issue 1,200,000 Class A common shares from its Treasury at a price of $0.25 per share, raising gross proceeds of $300,000.
There are no warrants or options attached to the transaction.
delSECUR intends to use the proceeds to complete the second development phase of its authentication prototype unit, owned by its Canadian subsidiary QTech Systems Inc., and prepare it for market presentation to various applications including smartphones. In addition the funds will partially be used for working capital and general corporate purposes.
The Corporation's goal is to be the provider of leading edge verification and authentication software used in verifying the identity of an individual where high security is required.
delSECUR CORPORATION, a non-reporting public company (DLSC-OTC) with its head office in S. Burlington, VT, has been involved in the development of a unique authentication process based on abstract images of biological data for the purpose of verifying a person's identity. For further information visit the delSECUR website at www.delsecurcorp.com
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SOURCE delSECUR CORPORATION