Cypher Metaverse Inc. Announces Update of Letter of Intent for Proposed Business Combination With Agapi Luxury Brands Inc.
Cypher Metaverse Inc. (CSE:CODE) has provided an update on its previously announced business combination with Agapi Luxury Brands Inc. The transaction is expected to be completed through a share exchange, making Agapi a wholly-owned subsidiary of Cypher. Key conditions for the transaction include:
1. Completion of financing to provide sufficient working capital
2. CSE approval for listing the shares of the resulting issuer
Trading of CODE Common Shares on the CSE remains halted pending review and satisfaction of conditions. An updated circular reflecting Agapi's progress and business plan will be filed shortly. Cypher focuses on early-stage investments in emerging technology sectors, including blockchain, fintech, and the metaverse.
Cypher Metaverse Inc. (CSE:CODE) ha fornito un aggiornamento sulla sua precedentemente annunciata combinazione aziendale con Agapi Luxury Brands Inc. La transazione dovrebbe essere completata attraverso uno scambio azionario, rendendo Agapi una controllata interamente posseduta da Cypher. Le condizioni chiave per la transazione includono:
1. Completamento del finanziamento per fornire un capitale di lavoro sufficiente
2. Approvazione da parte del CSE per la quotazione delle azioni dell'emittente risultante
Il trading delle azioni ordinarie CODE sul CSE rimane sospeso in attesa di revisione e soddisfazione delle condizioni. Un volantino aggiornato che riflette i progressi di Agapi e il piano aziendale sarà presentato a breve. Cypher si concentra su investimenti in fase iniziale nei settori tecnologici emergenti, incluso blockchain, fintech e metaverso.
Cypher Metaverse Inc. (CSE:CODE) ha proporcionado una actualización sobre su combinación empresarial previamente anunciada con Agapi Luxury Brands Inc. Se espera que la transacción se complete a través de un intercambio de acciones, convirtiendo a Agapi en una subsidiaria de propiedad total de Cypher. Las condiciones clave para la transacción incluyen:
1. Finalización del financiamiento para proporcionar capital de trabajo suficiente
2. Aprobación del CSE para la cotización de las acciones del emisor resultante
El comercio de las acciones ordinarias de CODE en el CSE permanece detenido a la espera de revisión y satisfacción de las condiciones. Se presentará pronto un comunicado actualizado que refleje los avances de Agapi y su plan de negocio. Cypher se enfoca en inversiones en etapas tempranas en sectores tecnológicos emergentes, incluyendo blockchain, fintech y el metaverso.
Cypher Metaverse Inc. (CSE:CODE)는 Agapi Luxury Brands Inc.와의 이전 발표된 사업 결합에 대한 업데이트를 제공했습니다. 이 거래는 주식 교환을 통해 완료될 것으로 예상되며, Agapi는 Cypher의 완전 소유 자회사가 됩니다. 거래의 주요 조건은 다음과 같습니다:
1. 충분한 운영 자본을 제공하기 위한 자금 조달 완료
2. 결과 발행자의 주식 상장을 위한 CSE 승인
CSE의 CODE 보통주 거래는 조건 검토 및 충족 대기 중입니다. Agapi의 진행 상황과 사업 계획을 반영한 업데이트된 원형이 곧 제출될 것입니다. Cypher는 신흥 기술 분야의 초기 단계 투자에 중점을 두고 있으며, 여기에는 블록체인, 핀테크 및 메타버스가 포함됩니다.
Cypher Metaverse Inc. (CSE:CODE) a fourni une mise à jour sur sa combinaison commerciale précédemment annoncée avec Agapi Luxury Brands Inc. La transaction devrait être finalisée par un échange d'actions, faisant d'Agapi une filiale entièrement détenue par Cypher. Les conditions clés pour la transaction incluent :
1. Finalisation du financement pour fournir un capital de travail suffisant
2. Approbation de la CSE pour la cotation des actions de l'émetteur résultant
Le commerce des actions ordinaires CODE sur le CSE reste suspendu en attendant la révision et la satisfaction des conditions. Un circulaire mise à jour reflétant les progrès d'Agapi et son plan d'affaires sera déposée prochainement. Cypher se concentre sur les investissements précoces dans les secteurs technologiques émergents, y compris la blockchain, la fintech et le métavers.
Cypher Metaverse Inc. (CSE:CODE) hat ein Update zu seiner zuvor angekündigten Geschäftskombination mit Agapi Luxury Brands Inc. bereitgestellt. Die Transaktion soll durch einen Aktienaustausch abgeschlossen werden, wodurch Agapi zu einer hundertprozentigen Tochtergesellschaft von Cypher wird. Wichtige Bedingungen für die Transaktion umfassen:
1. Abschluss der Finanzierung zur Bereitstellung ausreichenden Betriebskapitals
2. CSE genehmigung zur Listung der Aktien des resultierenden Emittenten
Der Handel mit den Stammaktien von CODE an der CSE bleibt ausgesetzt, bis die Bedingungen überprüft und erfüllt sind. Ein aktualisiertes Schreiben, das die Fortschritte von Agapi und den Geschäftsplan widerspiegelt, wird in Kürze eingereicht. Cypher konzentriert sich auf Investitionen in der Frühphase in aufstrebenden Technologiebereichen, einschließlich Blockchain, Fintech und Metaversum.
- Potential expansion into luxury brands sector through acquisition of Agapi
- Progress towards completing the business combination transaction
- Company's focus on emerging technology sectors like blockchain, fintech, and metaverse
- Trading halt of CODE Common Shares on CSE
- Pending completion of financing for working capital
- Transaction still subject to CSE approval
VANCOUVER, BC / ACCESSWIRE / August 27, 2024 / Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") is pleased to announce an update of previously announced business combination agreement with Agapi Luxury Brands Inc. (the "Transaction"). The Company's focus is to continue to work to complete the Transaction. The Transaction is expected to be completed by way of a share exchange, which will result in Agapi becoming a wholly-owned subsidiary of Cypher.
Conditions of the Transaction
Completion of the Transaction is subject to the satisfaction of remaining closing conditions, including: (i) completion of a financing in such amount as to provide the Company with sufficient working capital to fund its business plan once it acquires Agapi, and (ii) the CSE's approval for listing the shares of the Resulting Issuer.
Trading Halt
Trading in CODE Common Shares on the CSE will remain halted in compliance with the policies of the CSE pending the ongoing review of the Transaction by the CSE, and satisfaction of the conditions of the CSE for resumption of trading. It is not expected that trading in the CODE Common Shares will resume prior to the Closing.
Filing Statement
In connection with the Transaction and in compliance with the policies of the CSE, CODE has filed a filing statement on SEDAR which contains details regarding the Transaction, CODE, Agapi and the Resulting Issuer. An updated circular will be filed shortly reflecting the progress of Agapi and its business plan.
About Cypher Metaverse Inc.
Cypher 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, and its Common Shares are currently listed on the CSE. CODE is a reporting issuer in the Provinces of British Columbia, Alberta, and Ontario.
Contact Information
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 the 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 relating to the exploration and development of Agapi's products, the proposal to complete the Transaction and associated transactions, including statements regarding the terms and conditions of the Transaction the Exchange Ratio, the name change of the Company, the Private Placement, the use of proceeds of the Private Placement, the Bridge Loan and the proposed directors and officers of the Resulting Issuer. The information about Agapi contained in the press release has not been independently verified by CODE. 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, among other things, the risks that the parties will not proceed with the Transaction, the name change of the Company, the Private Placement, the appointment of the proposed directors and officers of the Resulting Issuer and associated transactions, that the ultimate terms of the Transaction, the Private Placement, the appointment of the proposed directors and officers of the Resulting Issuer and associated transactions will differ from those that currently are contemplated, and that the Transaction, the name change of the Company, the Private Placement, the appointment of the proposed directors and officers of the Resulting Issuer and associated transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The terms and conditions of the Transaction may change based on CODE's due diligence and the receipt of tax, corporate and securities law advice for both CODE and Agapi. 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, Agapi, their securities, or their respective financial or operating results (as applicable) except as required by securities laws.
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
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