Cypher Metaverse Inc. Announces Second Closing of Financing

VANCOUVER, BC / ACCESSWIRE / September 19, 2024 / Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") announced the completion of the second closing of its private placement. The Company accepted subscriptions for 599,706 units at $0.085 per unit, generating gross proceeds of $50,975. A qualified finder received finder's fees totaling $1,253.75.

Each unit includes one common share and one common share warrant. The warrant allows the holder to purchase an additional common share at $0.15 per share for two years from closing, with an option to accelerate the expiry date if the stock trades at $0.20 for 10 trading days.

Securities from this tranche have trading restrictions until January 19, 2025. Net proceeds will go towards general working capital and the acquisition of Agape Luxury Brands Inc.

Additionally, Harrison Ross resigned as a Director of the Corporation, and Michael Hopkinson joined the Board effective August 16, 2024.