NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / January 24, 2025 / Cypher Metaverse Inc. (CSE:CODE) ("Cypher" or the "Company") is pleased to announce that it has closed its previously announced LIFE Financing and Common Share Financing (collectively, the "Offerings"). The Company raised proceeds of $939,705.99 through the sale of 1,978,330 common shares of the Company (the "Shares") at a price of $0.475 per share. One half of these shares were sold using the LIFE exemption under NI 45-106.
The Company paid finder's fees on the Offerings to qualified finder's of $29,176.84.
Approximately one half of these shares were sold using the LIFE exemption under NI 45-106. The other half of the Shares issued are subject to trading restrictions until May 25, 2025.
The Company intends to use net proceeds of the Offering for working capital requirements and other general corporate purposes.
The Company would also like to announce the appointment of Michael Hopkinson as Chief Financial Officer after the resignation of Tatiana Kovaleva. The Company wishes Tatiana well in her retirement and thanks her for her services over the past many years.
About Cypher Metaverse Inc.
Cypher Metaverse Inc. focuses on identifying and investing in early-stage opportunities across the digital landscape. The Company leverages its strategic relationships to drive innovation and growth, creating new possibilities and opportunities.
For further information please contact:
Cypher Metaverse Inc.
George Tsafalas - Director
Phone: Toll-Free 1 (778) 373-8578
Neither the CSE nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. Although Cypher believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Cypher can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on. The statements in this press release are made as of the date of this press release. Cypher undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Cypher, except as required by securities laws.
SOURCE: Cypher Metaverse Inc.
