Cybeats closes $1.2-million debt settlement with Scryb

Executive Summary

• Cybeats Technologies Corp. and Scryb Inc. have closed a debt settlement transaction originally announced on December 31, 2025.
• Cybeats settled $1.2 million in secured debenture 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 of a secured debenture held by Scryb Inc.
• Debt Amount Settled: $1.2 million.
• Consideration: Issuance of 10,000,000 common shares of Cybeats Technologies Corp.
• Deemed Price: 12 cents per common share.
• Share Restrictions: The issued shares are subject to a statutory four-month-and-one-day hold period in accordance with applicable securities laws.
• Control Status: Completion of the debt settlement did not create any new control person of Cybeats.
• Regulatory Framework: The transaction constituted a related party transaction under Multilateral Instrument 61-101.
• Exemptions Applied: The companies relied on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101 sections 5.5(a) and 5.7(1)(a).
• Valuation Threshold: The fair market value of the debt settlement and the common shares issued did not exceed 25% of the companies' respective market capitalizations.
• 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."