CYBEATS TECHNOLOGIES CORP - CYBCF STOCK NEWS

Cybeats Technologies Corp. is positioned to benefit from the new EU Cyber Resilience Act, which enforces SBOM compliance with fines of up to €15 million or 2.5% of gross sales. The company's SBOM Studio offers a leading interface for managing software assets, aligning with increasing regulatory requirements. CEO Justin Leger emphasizes the importance of proactive cybersecurity measures. The Act covers all products with software connections, including IoT devices. The FDA also mandates SBOM for medical device cybersecurity, highlighting the importance of solutions like SBOM Studio.

Cybeats Technologies Corp. signs a cybersecurity deal with a top 3 European telecom leader, marking a significant milestone in the company's commercial journey. The SaaS agreement for SBOM Studio1 product aims to enhance cybersecurity practices in the telecom sector, leveraging Cybeats' industry-leading software. With a focus on regulatory compliance and security risks, Cybeats expects substantial commercial traction in this new market vertical.

Cybeats Technologies Corp. extends the expiry date of 32,591,800 common share purchase warrants, benefiting shareholders with extended exercise periods at unchanged prices.

Cybeats Technologies Corp. has signed a renewed and expanded license agreement for SBOM Studio with a Top 5 global Medical Device Manufacturer, solidifying its position in the medical device industry. The contract term is now for three years and for over seven figures in total contract value. The company continues to achieve commercial progress evidenced by client retention and organic contract growth, illustrating increased product usage and demand. The FDA's role in regulating medical device cybersecurity and the significance of SBOM management solutions like SBOM Studio have been emphasized, highlighting the pivotal role of SBOM Studio in fortifying software supply chains, especially for globally-operating companies.

Cybeats Technologies Corp. closed a non-brokered private placement, raising $2,025,000 through the issuance of debenture units. The company intends to use the net proceeds for working capital and general corporate purposes. Each debenture unit consists of unsecured convertible debentures and common share purchase warrants. The debentures mature in 24 months and accrue interest at 12% per annum. The principal amount is convertible into common shares at a conversion price of $0.30 per share. The forced conversion clause is triggered if the shares trade at or above $0.60 for 20 consecutive days. The securities issued are subject to a hold period of four months plus a day from the date of closing. The offering was a related party transaction, with an insider of the company subscribing for 210 debenture units.

Cybeats Technologies Corp. has increased its non-brokered private placement to up to 2,025 debenture units for gross proceeds of up to $2,025,000. The company intends to use the net proceeds for working capital and general corporate purposes. Each debenture unit consists of unsecured convertible debentures and common share purchase warrants. The debentures accrue interest at 12% per annum and are convertible into common shares at a conversion price of $0.30 per share. The offering is subject to certain conditions including regulatory approvals.

Cybeats Technologies Corp. (CYBT) provides a year-end letter to shareholders, showcasing a 250% annual recurring revenue growth and total contract values exceeding $4M in their first full year of commercial operations. The company's cybersecurity software, SBOM Studio, has 100% customer retention and has expanded contracts with 30% of existing customers. The 2024 growth strategy includes contract expansions, acquiring new enterprise clients, and entering new market segments.

Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) announces a non-brokered private placement of up to 1,500 debenture units for gross proceeds of up to $1,500,000. The net proceeds will be used for working capital and general corporate purposes. Each debenture unit consists of $1,000 in principal amount of unsecured convertible debentures and 3,333 common share purchase warrants. The debentures accrue interest at 12% per annum and mature in 24 months, with the option to convert into common shares at a conversion price of $0.30 per share. The company may force conversion if the shares trade at or above $0.60 for 20 consecutive trading days.

Cybeats Technologies Corp. (CYBT) partners with Health Information Sharing and Analysis Center (Health-ISAC) to offer SBOM management solution for healthcare industry, creating significant revenue opportunity. SBOM Studio is already commercially validated and used by top global Medical Device Manufacturers.