VANCOUVER, Nov. 24, 2015 - VirtualArmor International Inc. ("VirtualArmor" or the "Company") (VAI:CNX) has received approval to list its common shares ("Shares") for trading on the Canadian Securities Exchange (the "CSE") and its Shares have commenced trading as of the opening of market today, November 24, 2015 under the trading symbol "VAI".
Choosing to list its Shares publicly first in Canada before starting out on a U.S. platform, such as the OTC, may seem like an unusual move for a company that is based out of Colorado, U.S. and not in Canada. VirtualArmor founder and Chairman Christopher Blisard sees benefits to listing first in Canada.
"There are many sophisticated, tech-oriented investors in centres such as Toronto, Montreal and Vancouver, as well as an influx of European and Pan-Asia investors," he said. "We believe VirtualArmor will stand out as an investment opportunity as it addresses the key needs of both public and private enterprises."
VirtualArmor is one of a number of information technology managed services providers focusing on cybersecurity, which is regarded, according to a recent Piper Jaffray survey (Trend Micro Simply Security: http://blog.trendmicro.com/cybersecurity-a-top-enterprise-priority-protection-spending-increases/), as a top priority issue in 2015 for a vast majority of Chief Information Officers.
Matthew Brennan, VirtualArmor VP of Sales, advised that the Company has experienced rapid growth in its managed services business because of the increasing priority of the issue. CIOs come to VirtualArmor looking for protection in a world where their enterprises are consistently under attack with different vectors being exploited, and with security needs going beyond the proverbial firewall. "Enterprises need protection from cloud to core," he said.
Recent high-profile breaches in security, such as the Sony, EBay and Adobe hacks, have added a sense of urgency to cybersecurity inquiries. The fact that VirtualArmor can typically respond to a cyber-attack such as those within 15 minutes is a key metric and sets VirtualArmor apart.
According to Mr. Brennan, enterprises may have the tools, but they often don't have the expertise or staff needed to gain "visibility" – the ability to see what's really going on in their network and respond to an attack before it happens – and CIOs are looking at managed service providers to act as 'the guardians of their network'.
Mr. Blisard commented that VirtualArmor, which management estimates will achieve revenues of over US $7 million in 2015, "is looking at Toronto or Vancouver to establish an office in Canada before the end of 2016. The listing on the CSE is a very exciting next step in the Company's evolution".
VirtualArmor is an information technology company that delivers solutions to help enterprises build, monitor, maintain and secure their networks from cloud to core.
As a managed security services provider, VirtualArmor's services run 24 hours per day, 7 days per week, 365 days per year through its primary security operations center ("SOC") located in Middlesbrough, U.K. and a secondary SOC located in Salt Lake City, Utah. Each member of VirtualArmor's team supports the three main facets of its business: managed services, professional services, and hardware sales, by handling the design, configuration and installation of advanced network and cloud architecture solutions.
VirtualArmor uses best-in-breed partnerships to provide solutions for customers that are affordable, highly reliable, scalable, and backed by thorough knowledge of the related technologies, products, and platforms. VirtualArmor has secured partnerships with established technology businesses specializing in network appliances, software, and systems and provides its services to the mid- to large- enterprise and service provider markets. VirtualArmor customers include a 13-location data center provider, a Fortune 100 oil and gas company, multiple service providers with presences throughout the United States, and household name enterprise organizations located primarily in the western United States.
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 VirtualArmor. Although the Company 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 the Company 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 the Company 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.
SOURCE VirtualArmor International Inc.
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