GlobeX Data Ltd. reported that it has signed a nationwide distribution agreement with SYNNEX Canada Limited to distribute GlobeX's Sekur solution through SYNNEX Canada's 11,000 resellers nationwide. The distribution agreement with SYNNEX Canada covers all of Canada, and will expose GlobeX's secure email and messaging solutions to over 11,000 resellers in Canada alone. GlobeX has decided to partner with Darn IT Group in the implementation and training of the resellers nationwide and has named Darnley Greson, CEO of Darn IT Group, as GlobeX Data's Channel Development Manager for North America. The term of the Agreement shall be for a period of one year after the Effective Date with automatic one-year renewals unless terminated by either party upon 30 days prior written notice. GlobeX Data and SYNNEX Canada have started the process of marketing to resellers and estimate start of sales to be in January 2021. SYNNEX Canada estimates that 5% to 15% of its resellers would resell Sekur, which means that out of 11,000 resellers, between 550 and 1,650 would be selling GlobeX's security solutions. GlobeX's internal team estimates that in the first year, it can effectively market its solutions to approximately 100 resellers by the end of 2021 and to over 500 active resellers over the next 3 years. The Company estimates that each active reseller would sell a minimum of 300 licenses per year, resulting in recurring gross sales of CAD 360,000 /month or CAD 4,320,000 /year by the end of the first year and CAD 1,800,000 (USD 1,375,000) /month or CAD 21,600,000 /year by the end of the 3rd year, representing 150,000 Sekur licenses sold in Canada in the 3rd year. GlobeX plans to allocate 5% of gross sales into marketing Sekur with SYNNEX Canada, in order to grow yearly sales and awareness to resellers. This would ensure that as sales increase, so does marketing to more resellers. As sales start in Canada, GlobeX has plans to approach SYNNEX Corporation in the USA to expand in that market as well for 2021. GlobeX has a 5-year goal of marketing its solution to 1000 SYNNEX resellers, resulting in 300,000 Sekur licenses sold both in Canada and the USA.