Cybeats closes $1.2-million debt settlement with Scryb

Executive Summary

• Cybeats Technologies Corp. and Scryb Inc. have closed a debt settlement transaction previously announced on December 31, 2025.
• Cybeats settled $1.2 million in debt owed to Scryb by issuing 10 million common shares.
• The transaction is classified as a related party transaction under Multilateral Instrument 61-101, with exemptions from formal valuation and minority shareholder approval requirements.

Key Details

• Transaction Structure: Debt settlement via equity issuance.
• Debt Amount Settled: $1.2 million.
• Shares Issued: 10,000,000 common shares of Cybeats Technologies Corp.
• Deemed Price Per Share: $0.12 CAD.
• Counterparty: Scryb Inc. (existing control person of Cybeats).
• Regulatory Status: Related party transaction under Multilateral Instrument 61-101.
• Exemptions Applied: Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the transaction did not exceed 25% of the respective market capitalizations of the companies.
• Share Restrictions: The issued shares are subject to a statutory hold period of four months and one day.
• Control Impact: Completion of the settlement did not create any new control person for Cybeats.
• Strategic Rationale: The companies state the completion enhances Cybeats' financial position and supports continuing operational and growth initiatives.

Notable Quotes

• "The companies believe the completion of the debt settlement enhances Cybeats' financial position and supports its continuing operational and growth initiatives."