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Cypher Metaverse Inc. — Capital/Financing Update 2024
Oct 10, 2024
47165_rns_2024-10-10_f760d7b4-3943-4edc-8960-c4adae007962.pdf
Capital/Financing Update
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MATERIAL CHANGE REPORT FORM 51-102F3
Item 1. Name and Address Cypher Metaverse Inc. (the "Company") 1780-355 Burrard Street Vancouver, BC V6C 2C8
Item 2. Date of Material Change October 9, 2024
Item 3. News Release The news release describing the material change was disseminated on October 9, 2024 through Accesswire and filed on SEDAR+.
Item 4. Summary of Material Change The Company announced that it has completed its previously announced non-brokered private placement (the "Financing"). The Company raised proceeds on this final tranche of $5,100 through the sale of 60,000 Units.
The Company raised a total of $159,525.20, and issued a total of 1,876,767 Units pursuant to the Financing.
Securities issued as a result of closing of this final tranche will be subject to a statutory hold period until February 10, 2025.
Item 5. Full Description of Material Change
5.1 Full Description of Material Change The Company announced that it has completed its previously announced non-brokered private placement (the "Financing"). The Company raised proceeds on this final tranche of $5,100 through the sale of 60,000 Units.
The Company raised a total of $159,525.20, and issued a total of 1,876,767 Units pursuant to the Financing.
Each unit consists of one common share and one common share purchase warrant at $0.085. Each warrant entitles the holder to purchase one additional common share at $0.15 for a period of two years from the date of closing, subject to the option of the Company to accelerate the expiry date in the event that its shares trade at $0.20 or more for 10 consecutive days.
Securities issued as a result of closing of this final tranche will be subject to a statutory hold period until February 10, 2025.
The Company intends to use the net proceeds of the Offering for general working capital and to finance the acquisition of Agape Luxury Brands Inc., as previously announced.
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5.2 Disclosure for Restructuring Transactions
Not applicable.
Item 6. Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.
Item 7. Omitted Information
No information has been omitted in respect of this material change.
Item 8. Executive Officer
The following executive officer of the Company is knowledgeable about the material change disclosed in this report and may be contacted as follows:
George Tsafalas, President Telephone: 604 343-2977
Item 9. Date of Report
October 10, 2024.