NBVA Nubeva Technologies Ltd

Nubeva Technologies (TSX-V: NBVA, OTCQB: NBVAF), a technology innovation company specializing in decryption, today provides further details on its new board of director member and provides corporate updates.

New Board Members

On September 15, 2023, the company announced the appointment of two new independent board members:

Francis Chan: Boasting over 20 years of working for global established and startup technology firms, including SAP, SuccessFactors, and Lumesses, Francis has broad expertise encompassing product development, consulting, business development, and sales. Francis has served as Head of HR Center of Excellence at SAP, VP of Product at Talkpush, and HR Director for a global manufacturer. Francis is an alumnus of UC Berkeley, holding an MBA and MS, and has an MSc in Strategic Human Resources Management from Hong Kong Baptist University.

Michael Lin: Michael Lin has 33 years of experience in the semiconductor and engineering sectors. He earned his Mechanical Engineering degree from National Taiwan University and spent a decade at UMC, a renowned semiconductor company, from 1996 to 2006. Michael later founded 59Clean Technology in Taiwan and serves as its CEO. In 2021, after completing his EMBA at National Taiwan University, Michael expanded his business efforts into the U.S. market. Based in Taiwan, Michael remains an influential contributor to the semiconductor industry's evolution.

"We're pleased to have Francis and Michael join our board. They bring significant industry experience to Nubeva. Their addition provides a fresh perspective to our organization,” said Randy Chou, CEO at Nubeva.

Corporate Update:

The board of Nubeva is actively engaged in a comprehensive review of the company. This involves a detailed examination of its operations, financials, market position, and growth outlook. The objective is to understand every aspect of the company's current state and to methodically evaluate all strategic options forward with a focus on maximizing shareholder value. The management team is collaborating closely with the board to ensure that all potential strategies are considered and vetted in order to set its execution plans moving forward.

About Nubeva TechnologiesNubeva Technologies provides next-generation decryption solutions for faster, lower-cost recovery from ransomware attacks. Its mission is to reduce downtime costs and damages so businesses never pay ransoms again. Nubeva’s ransomware reversal software is available to end-user enterprises, managed security service providers, incident responders, and cybersecurity solution manufacturers.

Forward-looking statementsThis news release contains “forward-looking information” and “financial outlook” within the meaning of applicable securities laws relating to the company's business plans, the outlook of the cybersecurity industry, and the expectation that the company will be cash flow positive for calendar 2023. Although the company believes in light of the experience of its officers and directors, current conditions and expected future developments, and other factors that have been considered appropriate that the expectations reflected in this forward-looking information and financial outlook are reasonable, undue reliance should not be placed on them because the company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements for reasons relating to the development and adoption of the company’s technology and its input and capital cost requirements, among other factors. The statements in this press release are made as of the date of this release, and the company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The company undertakes no obligation to comment on analyses, expectations, or statements made by third parties regarding the company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).

Neither the TSX venture exchange nor its regulation services provider (as that term is defined in the policies of the TSX venture exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information:Randy Chourchou@nubeva.com844.538.4638