Corporate Update and Financing
Project One Resources Ltd
#1710, 1177 West Hastings Street
Vancouver, BC, Canada, V4E 3L6
July 7, 2020
Project One Resources announces Cyber negotiations and financing
Project One Resources (PJO.C), (the “Company”) wishes to announce that it has entered into
negotiations to acquire a 100% interest in two value added Cyber Security distributor companies based
in Europe.
The targeted companies reported 27 million and 30 million euros in revenue for fiscal years 2018 and
2019 (approximately CAD$40 and CAD$45 million). The business through the two country operations,
provide enterprises of all sizes with cybersecurity products.
The companies have been in business for 8 years and have reported growth and positive cash flow in
each of those years.
“With the recent shift to remote working (work from home), we believe that Cybersecurity will be a
dominate priority of every organization as each adapts to a post COVID 19 world. With an estimated
industry annual growth rate of 11.9 %, and a market size estimate of $260 bn by 2021, (UK Gov.), the
Board feels that the timing of this potential acquisition could not be better”, states Ron Shenton, CEO.
Upon review and to the satisfaction of its Board of Directors, Project One would present the opportunity
to the CSE for approval of the transaction and the subsequent change of business.
The contemplated transaction would involve a senior financing as well as additional Board members
being appointed.
The Company also wishes to announce a non-brokered financing of up to $540,000 or 3 million units at
$.18 per unit. Each unit will consist of one common share and one full warrant exercisable at $.30 for
one year. The warrants will provide for an accelerated expiry in the event that the shares of the issuer
are trading at a price of $.50 or greater for 20 consecutive trading days.
The Company intends to use the proceeds for working capital and anticipated due diligence costs.
For further information please contact:
Ron Shenton, CEO
604-825-2995
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS
REVIEWED OR ACCEPT’S RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Forward-Looking Information
This news release includes certain information that may be deemed “forward-looking
information” under applicable securities laws. All statements in this release, other than
statements of historical facts, that address acquisition of the Property and future work thereon,
mineral resource and reserve potential, exploration activities and events or developments that
the Company expects is forward-looking information. Although the Company believes the
expectations expressed in such statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or developments may
differ materially from those in the statements. There are certain factors that could cause actual
results to differ materially from those in the forward-looking information. These include the
results of the Company’s due diligence investigations, market prices, exploration successes,
continued availability of capital, and general economic, market or business conditions, and
those additionally described in the Company’s filings with the Canadian securities authorities.
Investors are cautioned that any such statements are not guarantees of future performance and
actual results or developments may differ materially from those projected in the forward-
looking information. For more information on the Company, investors are encouraged to review
the Company’s public filings at www.sedar.com. The Company disclaims any intention or
obligation to update or revise any forward- looking information, whether as a result of new
information, future events or otherwise, other than as required by law.