Cypher Metaverse Inc. Announces Debt Settlement
Cypher Metaverse has announced a debt settlement agreement through the issuance of 543,079 common shares at $0.70 per share, totaling $380,155.54. Of these shares, 107,057 will be issued to three directors and officers as part of a related party transaction. The shares will be subject to a 4-month restricted hold period and exchange approval. The company is utilizing exemptions under MI 61-101 as the fair market value of the shares being issued represents less than 25% of the company's market capitalization.
Cypher Metaverse ha annunciato un accordo di liquidazione del debito attraverso l'emissione di 543.079 azioni ordinarie a $0,70 per azione, per un totale di $380.155,54. Di queste azioni, 107.057 saranno emesse a tre direttori e funzionari come parte di una transazione con parti correlate. Le azioni saranno soggette a un periodo di blocco di 4 mesi e all'approvazione della borsa. L'azienda sta utilizzando esenzioni ai sensi del MI 61-101 in quanto il valore di mercato equo delle azioni emesse rappresenta meno del 25% della capitalizzazione di mercato della società.
Cypher Metaverse ha anunciado un acuerdo de liquidación de deuda mediante la emisión de 543,079 acciones comunes a $0.70 por acción, totalizando $380,155.54. De estas acciones, 107,057 se emitirán a tres directores y funcionarios como parte de una transacción con partes relacionadas. Las acciones estarán sujetas a un período de retención restringida de 4 meses y a la aprobación del intercambio. La empresa está utilizando exenciones bajo el MI 61-101 ya que el valor de mercado justo de las acciones emitidas representa menos del 25% de la capitalización bursátil de la compañía.
Cypher Metaverse는 543,079주의 보통주를 주당 $0.70에 발행하여 총 $380,155.54의 채무 합의 계약을 발표했습니다. 이 중 107,057주는 관련 당사자 거래의 일환으로 세 명의 이사 및 임원에게 발행될 것입니다. 이 주식은 4개월의 제한 보유 기간과 거래소 승인을 받아야 합니다. 회사는 발행되는 주식의 공정 시장 가치가 회사 시장 자본 총액의 25% 미만이기 때문에 MI 61-101에 따라 면제를 이용하고 있습니다.
Cypher Metaverse a annoncé un accord de règlement de dette par l'émission de 543,079 actions ordinaires à 0,70 $ par action, pour un total de 380,155.54 $. Parmi ces actions, 107,057 seront émises à trois directeurs et dirigeants dans le cadre d'une transaction entre parties liées. Les actions seront soumises à une période de blocage de 4 mois et à l'approbation de l'échange. L'entreprise utilise des exemptions en vertu de la MI 61-101, car la juste valeur marchande des actions émises représente moins de 25 % de la capitalisation boursière de la société.
Cypher Metaverse hat eine Schuldenregelungsvereinbarung verkündet, die die Ausgabe von 543.079 Stammaktien zu je $0,70 pro Aktie umfasst, insgesamt $380.155,54. Von diesen Aktien werden 107.057 im Rahmen einer Transaktion mit verbundenen Parteien an drei Direktoren und leitende Angestellte ausgegeben. Die Aktien unterliegen einer 4-monatigen Sperrfrist und der Genehmigung der Börse. Das Unternehmen nutzt Ausnahmen gemäß MI 61-101, da der faire Marktwert der ausgegebenen Aktien weniger als 25% der Marktkapitalisierung des Unternehmens ausmacht.
- Debt reduction of $380,155.54 without using cash resources
- Settlement preserves company's cash position for operations
- Share dilution through issuance of 543,079 new common shares
- Related party transaction involving company insiders for 107,057 shares
VANCOUVER, BC / ACCESSWIRE / December 5, 2024 / Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") announces the Company and arms-length third parties and related parties have reached debt settlement agreements whereby the Company will issue 543,079 common shares at a price of $.70 per share for a total of
Related parties transactions, account for 107,057 of the shares to be issued will be to 3 directors and officers, making this a related party transaction. The Company is relying upon exemptions contained in sections 5.5(a) and 5.7 (a) of MI 61-101 as the fair market value of the shares being issued is less than
About Cypher Metaverse Inc.
Cypher Metaverse Inc. focuses on identifying and investing in early-stage opportunities across the digital landscape. The company leverages its strategic relationships to drive innovation and growth, creating new possibilities and opportunities.
For further information please contact:
Cypher Metaverse Inc.
George Tsafalas - Director
Phone: Toll-Free 1 (778) 373-8578
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.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. Although CODE 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 are reasonable, undue reliance should not be placed on them because CODE can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on. The statements in this press release are made as of the date of this press release. CODE undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of CODE, except as required by securities laws.
SOURCE: Cypher Metaverse Inc.
View the original press release on accesswire.com
FAQ
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