Scryb increases financing to $1.5-million

Executive Summary

• Scryb Inc. is upsizeing its previously announced non-brokered private placement to $1.5 million due to strong investor demand.
• The offering consists of 15 million units priced at $0.10 per unit, with proceeds designated for general working capital.
• Each unit includes one common share and a half warrant, with specific finder’s fee structures outlined for registered finders.

Key Details

• Total Proceeds: $1.5 million.
• Units Issued: 15 million units.
• Price Per Unit: $0.10.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $0.18 for a period of 18 months after closing.
• Use of Proceeds: General working capital purposes.
• Hold Period: Four months plus one day from the date of closing, in accordance with Canadian Securities Exchange policies.
• Finder’s Fees: The company may pay cash finders' fees up to 7% of aggregate gross proceeds facilitated by registered finders.
• Finder’s Warrants: The company may issue finders' warrants equal to up to 7% of the number of units sourced by finders, with an exercise price of $0.18 per share for a period of 18 months following closing.