CYBEATS TECHNOLOGIES CORP - CYBCF STOCK NEWS

Cybeats Technologies Corp. (CSE: CYBT, OTCQB: CYBCF) announces its participation in the RSA Conference 2023 in San Francisco from April 24 to April 27. The company is hosting its second annual 'SBOM Meetup', which is sold out, indicating strong interest in software supply chain security. The conference attracts over 50,000 attendees and offers Cybeats an opportunity to connect with key technology and cybersecurity leaders, enhancing its commercial pipeline. Cybeats' team aims to showcase its SBOM management solutions, which are critical for risk management and compliance in the software supply chain.

Cybeats Technologies Corp. (CSE: CYBT, OTCQB: CYBCF) announced the appointment of Dr. Georgianna Shea, a seasoned cybersecurity expert, to its advisory board. Dr. Shea brings over 25 years of experience focusing on National Security and cybersecurity disciplines. She currently serves as Chief Technologist at the Foundation for Defense of Democracies' Center on Cyber and Technology Innovation.

Dr. Shea's extensive background includes leadership roles in top tech companies and contributions to significant advisory groups. Her expertise is expected to enhance Cybeats' capabilities in SBOM management, risk and compliance, and software supply chain intelligence. The company anticipates that Dr. Shea's insights will support its ongoing growth and innovation efforts in cybersecurity.

Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) emphasizes the importance of Software Bills of Materials (SBOM) in enhancing cybersecurity, particularly following the recent 3CX cyberattack attributed to North Korean hackers. The company notes that governments are increasingly pushing for SBOM requirements to manage software supply chain risks, aided by recent U.S. national strategies and Canadian Bill C-26 legislation aimed at protecting critical cyber systems. Cybeats is actively collaborating with government agencies to bolster software security standards across various sectors. The ongoing global trend towards stricter cybersecurity measures is underscored by significant legislative changes in the U.S. and Canada, and the EU's proposed Cyber Resilience Act, which could greatly influence software security responsibilities.

Cybeats Technologies Corp. (CSE: CYBT; OTCQB: CYBCF) has addressed the recent 3CX cyberattack, emphasizing the escalating threats to software supply chains. This incident has prompted stakeholders to advocate for greater supply chain transparency. Cybeats is engaged with various government agencies on this issue, supporting the adoption of Software Bills of Materials (SBOM) as a crucial security measure in compliance with Cyber Executive Order 14028 and the U.S. National Cyber Strategy. The company highlights the global importance of SBOM management amidst rising cyber threats, with significant implications for sectors such as finance, technology, and healthcare. Furthermore, recent Canadian legislation (Bill C-26) aims to bolster cyber system protections, while the EU's proposed Cyber Resilience Act reinforces the need for higher software security standards.

Cybeats Technologies Corp. announced a non-brokered private placement of up to 8,000,000 units at $1.00 each, aiming for gross proceeds of C$8,000,000. Each unit consists of one common share and one warrant, exercisable at $1.40 for two years. The first tranche raised C$2,112,000 through 2,112,000 units. The funds will support the growing demand in the SBOM management market and onboarding new enterprise clients. The offering included participation from insiders, acquiring 600,000 units, and is classified as a related party transaction. The company retains the option to increase the placement to 15,000,000 units for C$15,000,000. All securities will be subject to a four-month hold period after closing.