TORONTO, ON / ACCESSWIRE / March 31, 2020 / 01 Communique Laboratory Inc. (the "Company", "01 Communique") (TSX-V:ONE) today announced it has signed a Technology Licensing Agreement with Hitachi Solutions Create, Ltd. ("HSC") for the Japanese market. This agreement has replaced the Memorandum of Understanding ("MOU") the Company entered into on October 2, 2018.
Under the terms of the agreement the parties agree to apply for Japanese patent protection of the IronCAP technology and HSC agrees to license the IronCAP technology for the Japanese market. The Technology Licensing Agreement comes as a result of HSC's thorough analysis indicating that Quantum attack threats are a reality and that data encrypted with today's cryptographic technology can easily be cracked using quantum computing. As a result, sensitive data must be protected with new post-quantum cryptographic technology like IronCAP, which is compatible with conventional computers while safe-guarding against the excessive computing power of future quantum computers.
Andrew Cheung, President of 01 Communique stated, "We have had a long-standing relationship with HSC and are pleased to sign a Technology Licensing Agreement with them." Mr. Cheung further commented, "We believe that Japan represents an excellent market opportunity for our IronCAP technology beyond North America. IronCAP is at the forefront of the cyber security market to protect customers from cyber-attacks and the very serious risk of future quantum computer attacks."
About Hitachi Solutions Create, Ltd.
Hitachi Solutions Create, Ltd., headquartered in Tokyo, Japan, is one of the core IT Companies of Hitachi Group delivering proven business and IT strategies and solutions to companies across many industries. The company provides value-driven services throughout the IT life cycle from systems planning to systems integration, operation, and maintenance. For more information, visit the company's website at www.hitachi-solutions-create.co.jp
About IronCAP and IronCAP X:
IronCAP is at the forefront of the cyber security market and is designed to protect our customers from cyber-attacks. IronCAP's patent-pending cryptographic system is designed to protect users and enterprises against the ever-evolving illegitimate and malicious means of gaining access to their data today as well as in the future with the introduction of powerful quantum computers. Based on improved Goppa code-based encryption it is designed to be faster and more secure than current standards. It operates on conventional computer systems so users are protected today while being secure enough to safeguard against future attacks from the world of quantum computers. An IronCAP API is available which allows vendors of a wide variety of vertical applications to easily transform their products to ensure their customers are safe from cyber-attacks today and from quantum computers in the future.
IronCAP X, a new cybersecurity product for email/file encryption, incorporates our patent-pending technology and is planned for commercial release on April 23, 2020. The new product has two major differentiations from what is in the market today. Firstly, many offerings in today's market store users secured emails on email-servers for recipients to read, making email-servers a central target of cyber-attack. Our new product, on the other hand, delivers each encrypted message end-to-end to the recipients such that only the intended recipients can decrypt and read the message. Consumer's individual messages are protected, eliminating the hackers' incentive to attack email servers of email providers. Secondly, powered by our patent-pending IronCAP technology, we believe our new product will be the world's first quantum-safe end-to-end email encryption system; secured against cyberattacks from today's systems and from quantum computers in the future. Consumers and businesses using our new products will have tomorrow's cybersecurity today.
About 01 Communique
Established in 1992, 01 Communique Laboratory Inc. (TSX-V:ONE) has always been at the forefront of technology. In early 2018 the Company announced the transition of its business focusing on post-quantum cybersecurity with the development of its IronCAP technology. IronCAP is an advanced Goppa code-based post-quantum cryptographic technology that can be implemented on classical computer systems as we know them today while at the same time can also safeguard against attacks in the future post-quantum world of computing. The Company's legacy business provides its customers with a suite of secure remote access services and products. The Company's legacy products are protected in the U.S.A. by its patents #6,928,479 / #6,938,076 / #8,234,701; in Canada by its patents #2,309,398 / #2,524,039 and in Japan by its patent #4,875,094. For more information, visit the Company's web site at www.ironcap.ca and www.01com.com.
Cautionary Note Regarding Forward-looking Statements.
Certain statements in this news release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this news release, such statements use such words as "may", "will", "expect", "believe", "plan", "intend", "are confident" and other similar terminology. Such statements include statements regarding the timing of the release of IronCAP X and the future of quantum computers and their impact on the Company's product offering, the functionality of the Company's products and the intended product lines for the Company's technology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under "Risk and Uncertainties" in the Company's Management`s Discussion and Analysis document filed on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.
Neither TSX Venture Exchange ("TSX-V") 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.
INVESTOR CONTACT:
Andrew Cheung
Chief Executive Officer
01 Communique
(905) 795-2888 x206
Andrew.cheung@01com.com
SOURCE: 01 Communique Laboratory Inc.
ReleaseID: 583200
