Business
Cybeats and Scryb Announce Debt Settlement Agreement
Toronto, Ontario--(Newsfile Corp. - December 31, 2025) - Cybeats Technologies Corp. (CSE: CYBT) ("Cybeats") and Scryb Inc. (CSE: SCYB) ("Scryb") (collectively, the "Companies") announce that they have entered into a debt settlement agreement dated December 30, 2025, to settle a secured debenture owing by Cybeats to Scryb in the amount of $1,200,000 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 "Debt...
About this update from Scryb, Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - December 31, 2025) - Cybeats Technologies Corp. (CSE: CYBT) ("Cybeats") and Scryb Inc. (CSE: SCYB) ("Scryb") (collectively, the "Companies") announce that they have entered into a debt settlement agreement dated December 30, 2025, to settle a secured debenture owing by Cybeats to Scryb in the amount of $1,200,000 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 "Debt Settlement"). Cybeats intends to complete the Debt Settlement to improve its financial position in an effort to support its planned future growth.","length":704,"tagName":"p"},{"type":"text","content":"The Debt Settlement is subject to acceptance for filing by the Canadian Securities Exchange. The Common Shares issued pursuant to the Debt Settlement will be subject to a four month and one day hold. No new control person of Cybeats will be created pursuant to the Debt Settlement.","length":281,"tagName":"p"},{"type":"text","content":"The Debt Settlement will constitute a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"), as Scryb is a control person of Cybeats. The Companies intend to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of such Common Shares nor the Debt Settlement will exceed 25% of the Companies' respective market capitalizations.","length":586,"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 shall there be any sale of these securities in any jurisd...