Veteran Risk Management Technology Executive Joins HUB Cyber Security, a Leader in Confidential Computing, to Drive Enterprise Growth and Go-to-Market Success

TEL AVIV, Israel, April 11, 2023 — HUB Cyber Security Ltd (NASDAQ:HUBC), a developer of Confidential Computing cybersecurity solutions and services (“HUB Security” or the “Company”), today announced that it has appointed David Riker as its Global Chief Operating Officer.

As HUB Security’s new COO, Riker will lead efforts to scale the Company’s global business operations and go-to-market strategies, aligning the Company’s two business units, Confidential Computing and Professional Services. Mr. Riker will report directly to HUB Security’s CEO, Uzi Moskovich.

“David brings decades of experience driving rapid enterprise growth through disciplined organizational alignment and a focus on client needs and financial results,” said Moskovich. “He has a proven track record developing long-term relationships with government agencies, Fortune 500 enterprises, as well as global banks and insurance companies. As COO, David will be an instrumental voice in the Company as he knows our business and culture well, which will enable him to seamlessly transition into the organization and quickly start working with our team.”

David Riker has over 20 years of experience leading fast-growing technology and risk management companies. Prior to his role at HUB Security, he served as Vice President of Strategic Development at global intelligence leader WorldAware after the sale of BlueLine Grid, a government technology business he founded and led as CEO. Mr. Riker previously served as Managing Director at Kroll, the global risk management company, VP of Products and Corporate Development at Marsh & McLennan and Chief Technology Strategist at Travelers. He was also an operating partner at Pacific Growth Investors, a private equity fund based in Los Angeles, and served as CEO of high growth venture technology startups Storm Exchange and eCoverage.

“The timing for HUB Security’s opportunity is immediate,” said Riker. “I’m fortunate to join Uzi and the management team as we write the next chapter of HUB Security’s growth. There is no greater honor for me than to be part of a team seeking to make the world a safer place and we’re all excited to attempt to harness the large addressable market ahead of us as we continue to expand HUB Security’s impact around the world.”

About HUB Security Ltd.

HUB Cyber Security Ltd (“HUB Security”) was established in 2017 by veterans of the 8200 and 81 elite intelligence units of the Israeli Defense Forces. The Company specializes in unique Cyber Security solutions protecting sensitive commercial and government information. The company debuted an advanced encrypted computing solution aimed at preventing hostile intrusions at the hardware level while introducing a novel set of data theft prevention solutions. HUB Security operates in over 30 countries and provides innovative cybersecurity computing appliances as well as a wide range of cybersecurity services worldwide.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995, including statements about the anticipated benefits of the transaction, and the financial condition, results of operations, earnings outlook and prospects of the combined company. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “future,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “seem,” “should,” “will,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of HUB Security, as applicable, and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made with the SEC by the HUB Security and the following: (i) expectations regarding HUB Security’s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and HUB Security’s ability to invest in growth initiatives and pursue acquisition opportunities; (ii) the outcome of any legal proceedings that may be instituted against the combined company; (iii) the ability to meet stock exchange continued listing standards; (iv) the risk that the consummation of the business combination disrupts HUB Security’s current operations and future plans; (v) the ability to recognize the anticipated benefits of the transaction, which may be affected by, among other things, competition, the ability of HUB Security to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (vi) costs related to the transaction; (vii) limited liquidity and trading of HUB Security’s securities; (viii) geopolitical risk, including military action and related sanctions, and changes in applicable laws or regulations; (ix) the possibility that HUB Security may be adversely affected by other economic, business, and/or competitive factors; (x) inaccuracies for any reason in the estimates of expenses and profitability and projected financial information for HUB Security; and (xi) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in HUB Security’s final proxy statement/prospectus filed on December 5, 2022.

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of HUB Security prove incorrect, actual results may vary in material respects from those expressed or implied in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the business combination or other matters addressed in this press release and attributable to HUB Security or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in press release. Except to the extent required by applicable law or regulation, HUB Security undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release to reflect the occurrence of unanticipated events.

Logo: https://mma.prnewswire.com/media/1710726/HUB_Security_Logo.jpg

Gili Nizni, VP Marketing at HUBSecurity
pr@hubsecurity.com

SOURCE HUB Security

Featured Image Depositphotos @ Andreus

Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, HUB Cyber Security Ltd. Market Jar Media Inc. has or expects to receive from HUB Cyber Security Ltd. ’s Digital Marketing Agency of Record (Native Ads Inc.) one hundred and fifteen thousand, eight hundred Canadian dollars for 33 days (23 business days).

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.’s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PressReach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.

6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding HUB Cyber Security Ltd.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to HUB Cyber Security Ltd.’s industry; (b) market opportunity; (c) HUB Cyber Security Ltd.’s business plans and strategies; (d) services that HUB Cyber Security Ltd. intends to offer; (e) HUB Cyber Security Ltd.’s milestone projections and targets; (f) HUB Cyber Security Ltd.’s expectations regarding receipt of approval for regulatory applications; (g) HUB Cyber Security Ltd.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) HUB Cyber Security Ltd.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute HUB Cyber Security Ltd.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) HUB Cyber Security Ltd.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) HUB Cyber Security Ltd.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) HUB Cyber Security Ltd.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of HUB Cyber Security Ltd. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) HUB Cyber Security Ltd.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact HUB Cyber Security Ltd.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing ​​HUB Cyber Security Ltd.’s business operations (e) HUB Cyber Security Ltd. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, HUB Cyber Security Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does HUB Cyber Security Ltd. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither HUB Cyber Security Ltd. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of HUB Cyber Security Ltd. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of HUB Cyber Security Ltd. or such entities and are not necessarily indicative of future performance of HUB Cyber Security Ltd. or such entities.

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