Metasphere Labs Closes LIFE Offering

• Metasphere Labs Inc. closed a non-brokered private placement under the LIFE Exemption on April 24, 2026.
• Gross proceeds totaled approximately $703,515 CAD from the issuance of 6,395,591 common shares at $0.11 per share.
• The capital is designated for general working capital and business development initiatives.
• No finder's fees were paid in connection with this offering.
• This transaction follows a March 12, 2026 announcement targeting proceeds between $250,000 and $1,000,000 CAD.
• The closing price of the shares ($0.11) is significantly below the recent market trading range observed in late April 2026 ($0.13-$0.29).

• Liquidity Extension: The raise provides immediate working capital, extending operational runway for approximately 12 months based on previous management guidance regarding fund usage.
• Dilution Impact: Issuing shares at $0.11 when the market price was trading near $0.22 represents a substantial discount (approx. 50%), diluting existing shareholders significantly.
• Execution vs. Expectation: The company raised $703,515 against a maximum target of $1,000,000 and minimum of $250,000. This is a successful execution within the announced range but does not exceed expectations materially.
• Pattern Recognition: This marks the fourth major financing event in roughly six months (Oct 2025, Nov 2025, Jan 2026, Apr 2026), indicating ongoing cash flow pressure rather than a one-off liquidity event.

• Company Description: Metasphere Labs Inc. operates in the technology sector, focusing on platform development and digital asset initiatives.
• Flagship Project: The company references a proprietary platform requiring further development funding; specific product details are not disclosed in the provided news releases.
• Development Stage: Early stage/Pre-revenue implied by reliance on private placements for working capital and lack of revenue mentions in financial context.
• Regulatory Status: Listed on the Canadian Securities Exchange (CSE), subject to CSE Policy 4 exemptions due to financial hardship in previous financings.