Toronto, Ontario--(Newsfile Corp. - August 5, 2025) - Cybeats Technologies Corp. (CSE: CYBT) ("Cybeats' or the "Company") is pleased to announce the settlement of $1,500,000 of indebtedness and the conversion of $1,405,000 in principal amount of outstanding convertible debentures. The settlements and conversions align with the Company's objective to strengthen its balance sheet and reduce debt as it advances into a phase of commercial growth and operational scale-up.
Debt Settlement
Pursuant to debt settlement agreements entered into with certain creditors and service providers, the Company has settled an aggregate of $1,500,000 of indebtedness through the issuance of 15,000,000 common shares in the capital of the Company (the "Shares") at a price of $0.10 per Share (the "Debt Settlement"). All Shares issued pursuant to the Debt Settlement are subject to a four (4) month hold period in accordance with applicable securities laws.
The Debt Settlement constituted a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"), as certain officers and other insiders of the Company acquired 13,322,500 Shares. The Company is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101, based on the fact that the fair market value of the transaction does not exceed 25% of the market capitalization of the Company.
Debenture Conversion
The Company also announces that an aggregate principal amount of $1,405,000 in outstanding convertible debentures has been converted into 14,050,000 Shares at a conversion price of $0.10 per Share, in accordance with the terms of the convertible debentures issued on January 25, 2024, as amended.
Amended and Restated Offering Document
As part of the Company's brokered LIFE offering of units that was announced on July 21, 2025, the Company has filed an amended and restated offering document dated August 5, 2025 (the "Amended and Restated Offering Document"), to reflect the Debt Settlement and debenture conversions, among other matters, amending the original offering document filed on July 21, 2025. The Amended and Restated Offering Document can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.cybeats.com. Prospective investors should read the Amended and Restated Offering Document before making an investment decision.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 Act") or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.
About Cybeats Technologies Corp.
Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) is a cybersecurity company providing Software Bill of Material (SBOM) management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. Cybeats platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency, increase revenue, and align organizations with current and future regulations. Cybeats. Software Made Certain. Website: https://cybeats.com
Contact:
Justin Leger, CEO
Phone: 1-888-713-SBOM (7266)
Email: ir@cybeats.com
Sean Peasgood, Investor Relations
Phone: (905) 667-6761
Email: Sean@SophicCapital.com
Forward-Looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE, and other risks as described in the Company's filings available on the Company's SEDAR+ profile at www.sedarplus.ca. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Company filings are available under the Company's SEDAR+ profile at www.sedarplus.ca.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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SOURCE: Cybeats Technologies Corp.
