Scryb arranges $600,000 private placement

Executive Summary

• Scryb Inc. announced a non-brokered private placement of up to six million units at $0.10 per unit, targeting gross proceeds of up to $600,000.
• Each unit comprises one common share and one-half of one common share purchase warrant, with warrants exercisable at $0.18 per share for 18 months.
• Proceeds are designated for general working capital, and securities are subject to a statutory hold period of four months plus one day.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Up to 6,000,000 units.
• Price Per Unit: $0.10 CAD.
• Gross Proceeds: Up to $600,000 CAD.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.18 per common share.
  • Duration: 18 months from the date of closing.
• Use of Proceeds: General working capital purposes.
• Hold Period: Four months plus one day from the date of closing, in accordance with applicable securities laws and Canadian Securities Exchange policies.
• Finder’s Fees: The company may pay cash finder’s fees of 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 the finder, entitling the holder to purchase one common share at $0.18 per share for 18 months following closing.