Validian Closes Another Important Refinancing, Further Improves Balance Sheet

OTTAWA, Ontario, June 29, 2016 /PRNewswire/ --

Validian Corp. (OTCQB: VLDI), a leading innovator in cyber security technology, today is pleased to announce that the Company has closed another important refinancing, further improving its balance sheet. On June 22, 2016, the Company completed the exchange of an additional $908,146 of principal and accrued interest of its Unsecured Senior Convertible Notes issued from 2008 to 2015, which are convertible at $0.03 per share and earn interest at 10% per annum, for 909 shares of Series C Preferred Stock with a stated value of $1,000 per share, convertible at $0.03 per share with no interest coupon.

Bruce Benn, Chief Executive Officer of Validian, commented, "As announced in a press release earlier this month, Validian completed a significant financing in which it received $1.225 million in cash from the sale of its Series A Preferred Shares convertible at $0.10 per share to several new investors. We also eliminated all of our secured convertible debt and much of our unsecured debt, by exchanging it for Series A, B and C Preferred Shares with no interest coupon or dividends.

"With the latest exchange, we now have removed a total of over $4 million of secured convertible debt and $3 million of unsecured convertible debt, and eliminated more than $700,000 per year in interest costs. This accomplishment not only further strengthens Validian's balance sheet but also  improves our position in current and pending negotiations with several large companies with whom we are considering partnering for the integration, deployment, use, and commercial rollout of our technology in both domestic and global markets. Moreover, it provides more than 12 months of critical working capital, which will go towards completing revenue generating installations and deployments and helping grow our sales and prospect pipeline."

About Validian Corporation (OTCQB VLDI)

Validian's innovative, first-to-market, software-only technology is integrated rapidly and easily as a middleware and provides, manages and governs secure access of applications, services, servers, databases, and endpoints. Rapid integration into mobile, cloud, web, local and network applications ensures and manages secure access, storage, transfer, usage and sharing of sensitive critical data - where the value is.

Validian enables the next generation of secure Mobile Messaging, Communications and Advertising; Cloud Computing, Platforms and Storage; Distributed Applications and Computing; and Web Application and WebPortal Access and Usage.

Validian is a U.S. public company with offices in the U.S. and Canada. Visit http://www.Validian.com for more information on its digital asset solutions.

Discuss Validian events here: http://investorshangout.com/Validian-Corporation-VLDI-68278/

Safe Harbor Statement 

Investors should carefully consider the information contained in this news release before making an investment in the shares of the company. Information contained in this news release contains "forward looking statements", which can be identified by the use of forward-looking terminology such as "believes," expects," "may," "should," or "anticipates" or negative thereof or given that the future results covered by such forward -looking statements will be achieved. The preceding matters constitute cautionary statements identifying important factors with respect to such forward-looking statements, including certain risks and uncertainties that could cause actual results to vary materially from the future statements. Other factors could also cause actual results to vary materially from the future results covered in such forward-looking statements. 

Company:
Bruce Benn, CEO and President
[email protected]
+1-613-224-3535

Investor Relations:
Howard Gostfrand
[email protected]
+1-305-918-7000  

SOURCE Validian Corp.