Business
Cybeats and Scryb Announce Closing of Shares for Debt Transaction
Toronto, Ontario--(Newsfile Corp. - January 9, 2026) - Cybeats Technologies Corp. (CSE: CYBT) ("Cybeats") and Scryb Inc. (CSE: SCYB) ("Scryb") (collectively, the "Companies") are pleased to announce the closing of the debt settlement transaction previously announced on December 31, 2025 (the "Debt Settlement").Under the Debt Settlement, Cybeats has settled $1,200,000 owing under a secured debenture held by Scryb through the issuance of 10,000,000 common shares of Cybeats (the "Common Shares") at
About this update from Scryb, Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - January 9, 2026) - Cybeats Technologies Corp. (CSE: CYBT) ("Cybeats") and Scryb Inc. (CSE: SCYB) ("Scryb") (collectively, the "Companies") are pleased to announce the closing of the debt settlement transaction previously announced on December 31, 2025 (the "Debt Settlement").","length":352,"tagName":"p"},{"type":"text","content":"Under the Debt Settlement, Cybeats has settled $1,200,000 owing under a secured debenture held by Scryb through the issuance of 10,000,000 common shares of Cybeats (the "Common Shares") at a deemed price of $0.12 per Common Share. The Common Shares issued in connection with the Debt Settlement are subject to a statutory four-month-and-one-day hold period in accordance with applicable securities laws. Completion of the Debt Settlement did not create any new control person of Cybeats.","length":497,"tagName":"p"},{"type":"text","content":"As Scryb is a control person of Cybeats, the Debt Settlement constituted a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Companies relied on the exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a), as the fair market value of the Debt Settlement and the Common Shares issued did not exceed 25% of the Companies' respective market capitalizations.","length":563,"tagName":"p"},{"type":"text","content":"The Companies believe the completion of the Debt Settlement enhances Cybeats' financial position and supports its ongoing operational and growth initiatives.","length":161,"tagName":"p"},{"type":"text","content":"The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act, or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. persons or any persons within the United States absent registration or available exemptions from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor...