Scryb Reports Pima Zinc. Receives Conditional Approval to List on the CSE
Scryb Inc. announced that Pima Zinc Corp. has received conditional approval to list its shares on the Canadian Securities Exchange (CSE), pending compliance by February 15, 2023. This follows the Amalgamation Agreement with Cybeats Technologies and Pima Subco, wherein Pima will acquire Cybeats' shares. Scryb's CEO, Yoav Raiter, expressed optimism regarding the financing process despite challenging market conditions, highlighting the growing cybersecurity market and the potential showcasing of Scryb's value upon listing.
- Pima Zinc Corp. received conditional approval to list on the CSE, enhancing its market accessibility.
- The amalgamation with Cybeats aims to consolidate assets, potentially increasing value.
- The CSE approval is conditional, posing risks if requirements are not met by the deadline.
- Market conditions remain challenging, which may affect financing outcomes.
TORONTO, Oct. 12, 2022 /PRNewswire/ - Scryb Inc. ("Scryb'' or the "Company") (CSE: SCYB) (OTCQB: SCYRF) (Frankfurt: EIY), is pleased to announce that further to its press release of August 15, 2022, Pima Zinc Corp. ("Pima") has received conditional approval to list its common shares on the Canadian Securities Exchange (the "CSE"), subject to Pima fulfilling all of the requirements of the CSE on or before February 15, 2023. Pursuant to an amalgamation agreement (the "Amalgamation Agreement") with Pima, 2635212 Ontario Inc. ("Pima Subco"), a subsidiary of Pima, and Cybeats Technologies Inc. ("Cybeats") dated August 11, 2022, Pima will acquire all of the issued and outstanding common shares and preferred shares of Cybeats pursuant to a three-cornered amalgamation in accordance with Section 174 of the Business Corporations Act (Ontario) (the "Proposed Transaction"). Pima and Pima Subco are working diligently to complete the Financing (as such term is defined in the Amalgamation Agreement and the Company's press release dated August 15, 2022) and intends to close the Financing in the coming weeks.
"We are very pleased with the progress of the financing in spite of difficult markfet conditions, and look forward to closing the transaction in the coming week or two. As we near completion, we would like to thank shareholders for their patience and support during these processes and given the activity in the cybersecurity market we are more confident than ever that a dedicated listing will showcase the substantial value Scryb has created in such a relatively short time. Cybeats continues to scale its commercial operations to drive and support commercial demand of our SBOM Studio solution and we look forward to providing further disclosure on the impact of the innovative solutions in the marketplace," said Yoav Raiter, CEO, Scryb.
RECENT NEWS: Scryb Announces Partnership Between Cybeats and Veracode, an Industry-Leading Application Security Firm. Read more at https://bit.ly/3EyORB2
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Cybeats is a leading software supply chain intelligence technology provider, helping organizations manage risk, meet compliance and secure software from procurement, development through operation. Our platform provides customers with deep visibility and universal transparency into their software supply chain, as a result enables them to increase operational efficiencies and revenue. Cybeats. Software made certain. Website: www.cybeats.com
Scryb is a platform that powers businesses and technologies with applied intelligence, real-time analytics, and actionable insights. The platform boasts proven adaptability across diverse markets, from digital health and diagnostics to cybersecurity and manufacturing. The cloud-based platform is composed of crucial elements including sensor technology, IoT, predictive analytics, and computer vision.
For more information, please visit our website at: http://scryb.ai
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com
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SOURCE Scryb Inc.
FAQ
What recent approval did Pima Zinc Corp. receive regarding its stock listing?
What is the deadline for Pima Zinc Corp. to meet CSE requirements?
What company is involved in the amalgamation agreement with Pima Zinc Corp.?
What impact does the cybersecurity market have on Scryb Inc.?
