VANCOUVER, BC / ACCESSWIRE / September 19, 2024 / Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") is pleased to announce that it has completed the second closing of its previously announced private placement. The Company accepted subscriptions for 599,706 units at a price of $0.
085 per unit, for gross proceeds of $50,975. The Company paid finders fees to a qualified finder of $1,253.75.
Each unit consists of one common share and one common share warrant. Each warrant entitles the holder to subscribe for one additional common share for $0.15 for a period of 2 years from the date of closing, subject to the Corporation's option to accelerate the expiry date if the stock trades at $0.
20 for 10 trading days. Securities issued pursuant to this tranche are subject to trading restrictions until January 19, 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. The Company also announced that Harrison Ross has resigned as a Director of the Corporation. Michael Hopkinson has been appointed to the Board effecitive August 16, 2024.
About Cypher Metaverse Inc. Cypher Metaverse Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem, fintech and the metaverse.
The Company identifies such opportunities and applies its relationships and capital to advance its interests. The Company's head office is located at 1780.