Cypher Metaverse Inc. Announces Financing

Rhea-AI Summary

Cypher Metaverse Inc. (CSE:CODE) is undertaking a non-brokered private placement of up to $400,000, issuing up to 3,333,333 units at a price of $0.12 per unit. Each unit includes one common share and one half of a common share warrant. The net proceeds will be used for general working capital and the acquisition of Agapi Luxury Brands Inc.

VANCOUVER, BC / ACCESSWIRE / December 15, 2023 / Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") is pleased to announce that it is undertaking a non-brokered private placement of up to $400,000. The Company will issue up to 3,333,333 units at a price of $0.12 per unit. Each unit consists of one common share and one half of a common share warrant. Each whole warrant entitles the holder to subscribe for one additional common share for $0.15 for a period of 2 years from the date of closing, subject to the Corporation's option to accelerate the expiry date if the stock trades at $0.20 for 10 trading days.

The Company intends to use the net proceeds of the Offering for general working capital and acquisition of Agapi Luxury Brands Inc.

The Company may pay qualified finders fees of up to 8% in cash and 8% in brokers warrants.

About Cypher Metaverse Inc.

Cypher Metaverse Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem, fintech and the metaverse. The Company identifies such opportunities and applies its relationships and capital to advance its interests.

The Company's head office is located at 1780-355 Burrard Street, Vancouver, BC, V6C 2C8. The common shares of CODE ("CODE Common Shares") are currently listed on the CSE and CODE is a reporting issuer in the provinces of British Columbia, Alberta and Ontario.

For further information please contact:

Cypher Metaverse Inc.
Brian Keane - Director
Phone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150

Neither the CSE nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: Cypher Metaverse Inc.

View the original press release on accesswire.com

FAQ

What is Cypher Metaverse Inc.'s ticker symbol?

The ticker symbol for Cypher Metaverse Inc. is CODE.

How much is Cypher Metaverse Inc. raising in the private placement?

Cypher Metaverse Inc. is raising up to $400,000 in the private placement.

What will the net proceeds of the offering be used for?

The net proceeds of the offering will be used for general working capital and the acquisition of Agapi Luxury Brands Inc.

What is the price of each unit in the private placement?

The price of each unit in the private placement is $0.12.