Cybeats Completes Debt Settlement and Debenture Conversion

Executive Summary

• Cybeats Technologies Corp. has settled $1,500,000 of indebtedness and converted $1,405,000 in principal amount of outstanding convertible debentures, aiming to strengthen its balance sheet and reduce debt.
• The debt settlement was executed via the issuance of 15,000,000 common shares at $0.10 per share, with 13,322,500 shares acquired by insiders, constituting a related party transaction under MI 61-101.
• The convertible debentures were converted into 14,050,000 shares at the same $0.10 per share price, and an amended and restated offering document was filed to reflect these capital structure changes.

Key Details

• Debt Settlement Amount: $1,500,000 of indebtedness settled.
• Shares Issued for Debt Settlement: 15,000,000 common shares.
• Price per Share (Debt Settlement): $0.10.
• Hold Period: All shares issued for debt settlement are subject to a four (4) month hold period.
• Related Party Transaction Details: Insiders/officers acquired 13,322,500 of the shares issued in the debt settlement.
• Regulatory Exemption: The company relied on exemptions from formal valuation and minority approval requirements of Multilateral Instrument 61-101, as the fair market value did not exceed 25% of the company's market capitalization.
• Debenture Conversion Principal: $1,405,000 in outstanding convertible debentures converted.
• Shares Issued for Conversion: 14,050,000 common shares.
• Conversion Price: $0.10 per share.
• Original Debenture Date: January 25, 2024 (as amended).
• Offering Document Update: An amended and restated offering document dated August 5, 2025, was filed to reflect the debt settlement and debenture conversions, amending the original document from July 21, 2025.

Notable Quotes

• "The settlements and conversions align with the Company's objective to strengthen its balance sheet and reduce debt as it advances into a phase of commercial growth and operational scale-up."