Cybeats and Scryb Announce Closing of Shares for Debt Transaction

Executive Summary

• Cybeats Technologies Corp. settled its $1,200,000 secured debenture owed to Scryb Inc. by issuing 10,000,000 common shares at a deemed price of $0.12 per share.
• The transaction is classified as a related‑party “Debt Settlement” under MI 61‑101, but exemptions were relied upon because the fair market value does not exceed 25% of either company’s market capitalization.
• Completion of the settlement is expected to improve Cybeats’ financial position and support its ongoing operational and growth initiatives.

Key Details

• Amount Settled: $1,200,000 secured debenture.
• Consideration Issued: 10,000,000 Cybeats common shares at a deemed price of $0.12 per share.
• Hold Period: Shares subject to a statutory four‑month‑and‑one‑day hold period under applicable securities laws.
• Control Person Status: Scryb is a control person of Cybeats; the transaction did not create any new control persons.
• Regulatory Exemptions: Both companies relied on MI 61‑101 exemptions (sections 5.5(a) and 5.7(1)(a)) because the fair market value of the settlement and shares issued is <25% of each company’s market cap.
• Financial Impact: Management believes the settlement enhances Cybeats’ balance sheet and supports its operational/growth plans.
• U.S. Securities Disclaimer: The securities are not, and will not be, registered under U.S. securities laws; no offers or sales may be made in the United States absent applicable exemptions.

Notable Quotes

(No direct quotes were provided in the release.)