Cypher Metaverse Inc. Announces Closing of Financing

Executive Summary

• Cypher Metaverse Inc. closed a non‑brokered private placement of 749,258 units at $0.33 per unit, generating gross proceeds of $247,256.14.
• Each unit consists of one common share and one common‑share purchase warrant (exercise price $0.45, two‑year term, with possible acceleration if the share trades ≥ $0.65 for ten trading days).
• The company paid $10,256.40 in finder’s fees and issued 31,080 finder’s warrants on identical terms; net proceeds will be used for general corporate purposes.

Key Details

• Units sold: 749,258
• Price per unit: $0.33
• Gross proceeds: $247,256.14
• Unit composition: 1 common share + 1 warrant (right to purchase one additional common share at $0.45).
• Warrant term: 2 years from closing; acceleration possible if share price ≥ $0.65 for ten consecutive trading days.
• Finder’s compensation: $10,256.40 paid in cash; issuance of 31,080 finder’s warrants with the same exercise price and term as the primary warrants.
• Hold period: Common shares and warrants subject to a four‑month and one‑day hold period per CSE policy.
• Use of proceeds: General corporate purposes (unspecified).

Notable Quotes

(No executive quotes were included in the release.)