Cypher Metaverse announced a debt settlement agreement to issue 543,079 shares of common stock at $0.70 per share, totaling $380,155.54. Of these shares, 107,057 shares will be issued to three directors and officers as part of a related party transaction. The shares are subject to a four-month restricted holding period and exchange approval. The company takes advantage of the exemption under MI 61-101 because the fair market value of the issued shares represents less than 25% of the company's market capitalization.
Cypher Metaverse announces release of 543.079 azion at regular price of $0,70 each for a total value of $380.155,54. Di Queste azioni, 107.057 saranno emesse a tre direttori e funzionari Come parte di una transazione con parti correlate. Find Sarranno Sogetto for four mejis and all approval. L'azienda sta utilizzando esenzioni ai sensi del MI 61-101 in quanto il valore di mercato equo delle azioni emesse rappresenta meno del 25% della capitalizzazione di mercato della società.
Cypher Metaverse offers median solutions with 543,079 axions at $0.70 each, totaling $380,155.54. After a storage period of 4 days, the activities between the cambios will resume. LA empresa está utilizando exnciones bajo el MI 61-101 ya que el valor de mercado justo de las acciones Emidas representative 25% de la Capitalización bursátil de la compañía.
Cypher Metaverse $543,079 billion $0.70 $380,155.54 It costs 107,057 people. This page solves four problems. 25% MI 61-101 is 25% MI 61-101.
Cypher Metaverse poured in 543,079 regular actions and $0,70 per action for a total of $380,155.54. There are 107,057 Trois Superintendent and Diligent transactions and interparty transactions. Take action regarding the 4-day blocking period and approval of changes. L'entreprise takes advantage of the MI 61-101 exception and executes a Marquand action to guarantee 25% of social capitalization.
Cypher Metaverse hat Schuldenregelungsvereinbarung verkündet, die die Ausgabe von 543.079 Stammaktien zu je $0,70 pro Aktie umfast, insgesamt $380.155,54. Von diesen Aktien werden 107.057 im Rahmen einer Transaktion mit verbundenen Parteien an drei Direktoren und leitende Angestellte ausgegeben. Das Unternehmennutzt Ausnahmen gemäß MI 61-101, da der Faire Marktwert der ausgegebenen Aktien weniger als 25% der Marktkapitalisierung des Unternehmens ausmacht.
positive
Reduced debt by $380,155.54 without using cash resources Settlement maintains company's operating cash
negative
Dilution due to issuance of 543,079 new common shares Related party transactions by insiders for 107,057 shares December 5, 2024 – 4:55 p.m.
VANCOUVER, British Columbia / ACCESSWIRE / December 5, 2024 / Cypher Metaverse Inc. (CSE:CODE) (“CODE” or the “Company”) has entered into a debt settlement agreement between the Company and arm’s length third parties and related parties. I will announce what I have achieved. will issue 543,079 shares of common stock at a price of $0.70 per share for a total issue of $380,155.54. However, condition 4 applies. Monthly holding and exchange approval required.
Related Party Transactions The 107,057 shares issued are to three directors and executive officers, and this is a related party transaction. Because the fair market value of the outstanding shares is less than 25% of our market capitalization, we rely on the exemptions contained in Sections 5.5(a) and 5.7(a) of MI 61-101.
About Cipher Metaverse Co., Ltd.
Cypher Metaverse Inc. is focused on identifying and investing in early-stage opportunities across the digital landscape. The company leverages strategic relationships to drive innovation and growth, creating new possibilities and opportunities.
For more information, please contact us below.
Cipher Metaverse Co., Ltd.
George Tsafaras – Director
Phone: Toll Free 1 (778) 373-8578
Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of 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. CODE believes that the expectations reflected in this forward-looking information are reasonable, taking into account the experience of its officers and directors, current conditions and anticipated future developments, and other factors it considers appropriate. However, you should not rely too much on them. CODE makes no guarantee that they will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Actual results or developments may differ materially from those contemplated in these statements, depending on the circumstances. The statements in this press release are made as of the date of this press release. CODE undertakes no obligation to comment on any analysis, forecast, or statement made by any third party with respect to CODE, except as required by securities laws.
Source: Cypher Metaverse Inc.
View the original press release at accesswire.com
FAQ
How many shares is Cypher Metaverse (CODE) issuing to settle debt?
Cypher Metaverse has 543,079 shares of common stock outstanding at a price of $0.70 per share.
What is the total amount of Cypher Metaverse's December 2024 debt settlement?
The total debt settlement is $380,155.54.
How many shares will be issued to related parties in the Cypher Metaverse debt settlement?
107,057 shares will be issued to three directors and executive officers as related parties.
What is the holding period for debt liquidation shares issued by Cypher Metaverse?
The shares are subject to a four-month restricted holding period.
