CyberCatch Announces Plan to Grow Shareholder Value

Rhea-AI Summary

CyberCatch Holdings, Inc. (TSXV: CYBE) has announced a plan to grow shareholder value through two key initiatives. Firstly, the company will implement a share consolidation at a ratio of 1:10, reducing the outstanding shares to 5,692,165. Secondly, CyberCatch plans to raise approximately $1,400,000 through a new financing offering, priced in the context of the market on a post-consolidated basis.

The capital raised will be used to fuel sales growth by funding marketing efforts and hiring additional sales staff. CEO Sai Huda expressed enthusiasm for the plan, stating it will benefit all shareholders as the company ramps up sales growth and business activity.

Positive

• Share consolidation may attract new investors and potentially increase stock liquidity
• Planned $1.4 million financing to provide working capital for sales growth
• Funds to be used for marketing products and hiring additional sales staff

Negative

• Share consolidation will reduce the number of outstanding shares, which may impact existing shareholders
• New financing may lead to dilution for current shareholders

Vancouver, British Columbia and San Diego, California--(Newsfile Corp. - July 18, 2024) - CyberCatch Holdings, Inc. (TSXV: CYBE) ("CyberCatch'' or the "Company"), an innovative cybersecurity company offering an AI-enabled platform solution for continuous compliance and cyber risk mitigation, is pleased to provide information on its plan to grow shareholder value.

Share Consolidation

To optimize the capital structure of the Company and to attract financing to drive continued sales growth, the board of directors has approved a share consolidation at a ratio of one post-consolidated share for every ten (10) pre-consolidated shares (the "Share Consolidation"). The Share Consolidation is anticipated to be completed in the immediate future. Immediately following the Share Consolidation, the issued capital of the Company will be reduced to 5,692,165 shares outstanding.

New Financing

In connection with the Share Consolidation, the Company will be undertaking a financing to raise approximately $1,400,000 (the "Offering"). The Offering will be priced in the context of the market and issued on a post-consolidated basis. Capital raised through this transaction will be used to provide working capital to fuel sales growth with marketing of products and hire additional sales staff.

The transactions contemplated herein are described to transform the capital structure of the Company and position it for growth and shareholder value appreciation.

"On behalf of CyberCatch's board of directors, we are delighted to execute the plan to grow shareholder value, benefitting all our shareholders, as we ramp up sales growth and business activity," said Sai Huda, CEO, CyberCatch.

About CyberCatch
CyberCatch Holdings, Inc. (TSXV: CYBE) provides a proprietary, AI-enabled Software-as-a-Service (SaaS) solution that provides continuous compliance and cyber risk mitigation to organizations in critical segments, so they can be safe from cyber threats. The CyberCatch platform focuses on solving the root cause of why cyberattacks are successful: security holes from control deficiencies. It first helps implement all mandated and necessary controls, then the platform automatically and continuously tests the controls from three dimensions (outside-in, inside-out and social engineering) to find control failures so one can fix them promptly to stay compliant and safe from attackers. Learn more at: https://www.cybercatch.com.

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

For further information, please contact:

Investor Relations
Phone: 1-866-753-2923
Email: info@cybercatch.com

SOURCE CyberCatch

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216922

FAQ

What is the share consolidation ratio announced by CyberCatch Holdings (TSXV: CYBE)?

CyberCatch Holdings (TSXV: CYBE) announced a share consolidation ratio of one post-consolidated share for every ten pre-consolidated shares.

How much funding is CyberCatch Holdings (TSXV: CYBE) aiming to raise in its new financing offering?

CyberCatch Holdings (TSXV: CYBE) is aiming to raise approximately $1,400,000 through its new financing offering.

How many outstanding shares will CyberCatch Holdings (TSXV: CYBE) have after the share consolidation?

After the share consolidation, CyberCatch Holdings (TSXV: CYBE) will have 5,692,165 outstanding shares.

What will CyberCatch Holdings (TSXV: CYBE) use the funds from the new financing for?

CyberCatch Holdings (TSXV: CYBE) will use the funds from the new financing to provide working capital for marketing products and hiring additional sales staff to fuel sales growth.