Cypher Metaverse Inc. Announces Financing

Cypher Metaverse Inc. (CSE:CODE) has announced a non-brokered private placement of up to $1,000,000. The company plans to issue up to 11,764,705 units at $0.085 per unit. Each unit includes one common share and one common share warrant. The warrant allows the holder to subscribe for an additional common share at $0.15 for two years from the closing date, subject to an acceleration condition.

The company completed the first tranche of the private placement, accepting subscriptions for 1,357,061 units at $0.085 per unit, raising gross proceeds of $115,350. Securities from this tranche are restricted from trading until December 7, 2024. The net proceeds will be used for general working capital and to finance the acquisition of Agape Luxury Goods Inc.

Cypher Metaverse Inc. may pay qualified finder fees up to 8% in cash and 8% in broker warrants.