Sirrus Corp. Forms Wholly-Owned Subsidiary for Strategic Development and Advancement of Digital Deadbolt Technologies
Johns Creek, GA, June 28, 2018 (GLOBE NEWSWIRE) -- Sirrus Corp. (“Sirrus” or the “Company”) (OTC PINK: SRUP), an emerging cybersecurity solutions provider, is pleased to announce the Company’s formation of a new wholly-owned subsidiary, Digital Deadbolt Technologies, Inc. (“DDT”). Initial objectives for the Nevada incorporated subsidiary include the planned filing of a Tier 1 Regulation A exempt offering with the Securities and Exchange Commission (“SEC”), under which DDT would be permitted to raise up to $20 million from accredited and non-accredited investors in a 12-month period.
Sparrow Marcioni, Sirrus Corp. CEO, stated, “As a result of momentum we continue to see building for our Digital Deadbolt product, we feel it’s in the best interest of our shareholders to strengthen the corporate structure around the technology.
“In addition to providing a stand-alone entity and framework for the future development, marketing, sales of Digital Deadbolt products, this move will enable the new sub to potentially tap into the streamlined public capital markets opened by the expansion of the Reg A program under the Jumpstart Our Business Startups Act in 2015.
“We are confident this strategy will help to position the DDT business for continued growth, while at the same time allow each Sirrus Corp. shareholder to benefit from that growth. This strategy also opens the possibility that, in the future, DDT shares could be distributed to SRUP shareholders and that a DDT spin-off could trade on the OTC Markets or another exchange.”
About Digital Deadbolt
Digital Deadbolt™ is a proprietary hardware-based USB/Bluetooth enabled network security fob-style passkey device which incorporates several innovative security and design improvements intended to enhance overall network security and administration capabilities. Digital Deadbolt secures networks and patient records by providing each authorized user (doctor, nurse, technician, etc.) with a Digital Deadbolt fob as a means of accessing and updating patient information or where access to other secured devices requires additional authentication.
Additional information regarding Sirrus Corp., Sirrus Security, and Digital Deadbolt can be found at www.sirrussecurity.com.
About Sirrus Corp.
Sirrus Corp. (OTC PINK: SRUP) provides security technology products and services to assist companies with protecting their assets and information. The Company is primarily focused on providing cybersecurity services to healthcare companies in the United States, which are required to be in compliance with government regulations such as the Health Insurance Portability and Accountability Act (“HIPAA”).
Cautionary Note Regarding Forward-Looking Statements
This press release by Sirrus Corp. (“Sirrus”) may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "expects,” “plan,” “believes,” “will,” “achieve,” “anticipate,” “would,” “should,” “subject to,” or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Although Sirrus management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Known risks and uncertainties include those identified from time to time in the reports filed by Sirrus Corp. with the SEC. Sirrus assumes no obligation to update publicly any forward-looking statements contained in this press release.
CONTACT: Sirrus Corp. - Investor Relations: Toll-Free: (888) 263-7622 E-mail: investors@sirrussecurity.com Website: www.sirrussecurity.com
© 2018 GlobeNewswire, Inc. All Rights Reserved.
Bacchanal Buffet to Reopen at Caesars Palace on May 20
