Cybeats and Scryb Announce Closing of Shares for Debt Transaction

Executive Summary

• Cybeats Technologies Corp. settled a $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 a related‑party financing under MI 61‑101; exemptions from formal valuation and minority shareholder approval were relied upon because the consideration does not exceed 25% of either company’s market capitalization.
• Completion of the settlement is expected to strengthen Cybeats’ balance sheet and support its ongoing operational and growth initiatives.

Key Details

• Debt Amount Settled: $1,200,000 secured debenture held by Scryb Inc.
• Equity Issuance: 10,0 00,000 Cybeats common shares issued to satisfy the debt.
• Deemed Share Price: $0.12 per share (implied valuation of the settlement).
• Hold Period: Shares subject to a statutory four‑month‑and‑one‑day hold period under applicable securities laws.
• Control Person Status: Scryb Inc. is a control person of Cybeats; transaction qualifies as a “related party transaction” under MI 61‑101.
• Exemptions Applied: Sections 5.5(a) and 5.7(1)(a) of MI 61‑101 – no formal valuation or minority shareholder approval required because the fair market value does not exceed 25% of either company’s market cap.
• No New Control Person Created: The settlement did not result in any additional control person for Cybeats.
• Financial Impact: Management believes the settlement improves Cybeats’ financial position and underpins its operational and growth plans.
• U.S. Securities Disclaimer: Shares are not, and will not be, registered under U.S. securities laws; no offers or sales may be made to U.S. persons absent registration or exemption.

Notable Quotes

(No direct quotes were provided in the release.)