Tego Cyber Inc. Announces Settlement of All Convertible Debt
Retires $1.66 million in convertible debt and accrued interest
Eliminates more than 49 million shares of potential dilution
LAS VEGAS, NV / September 28, 2026 - Tego Cyber Inc. (OTCID: TGCB) (“Tego” or the “Company”), which is undergoing a strategic transformation into Everlight Media Group Inc., today announced that it has negotiated settlement of all outstanding legacy convertible debt. The settlements are being funded with proceeds from the Company's previously announced sale of its wholly owned subsidiary, OW Cyber LLC, to Intrusion Inc. (“Intrusion”)(NASDAQ: INTZ).
The retired obligations consist of eleven convertible promissory notes issued between 2022 and 2025, with an aggregate outstanding principal of $1.45 million and a total outstanding balance, including accrued interest, of $1.66 million. The notes carried various conversion terms and were convertible into approximately 49.6 million shares of Tego common stock. The debt holders will receive a combination of cash, shares of Intrusion common stock (received by Tego in the OW Cyber transaction) and shares of Tego preferred stock. All related conversion rights are extinguished. No additional shares of Tego common stock will be issued in connection with the settlements.
"Clearing this legacy debt has been a priority and the Intrusion transaction gave us the means to do this," stated Anthony D’Andrea, President & Chief Executive Officer of Tego. "Settling these variable-rate convertible debts eliminates significant potential dilution overhang off our shareholders and gives us a clean balance sheet as we move forward with the transition from cyber security to conservative faith-based streaming," continued Mr. D’Andrea.
Additional information regarding the Company's strategic transformation and ongoing corporate developments will be provided through future press releases and regulatory filings.
For past news and current investor presentation please visit: https://www.otcmarkets.com/stock/TGCB/news
About Tego Cyber Inc. (transitioning to Everlight Media Group Inc.)
Tego Cyber Inc. is a publicly traded company currently undergoing a strategic transformation into Everlight Media Group Inc., a media company being built to deliver a trusted, values-driven streaming platform for conservative Christian and family audiences. The Company intends to build a diversified digital media business centered on subscription streaming, advertising, live events, merchandising, and strategic content partnerships designed to deliver long-term shareholder value. Tego Cyber Inc. was originally founded to provide enterprises with AI-driven cybersecurity solutions integrated into leading SIEM platforms.
Forward-Looking Statements
The statements contained in this press release, those which are not purely historical or which depend upon future events, may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements regarding the Company's expectations, hopes, beliefs, intentions or strategies regarding the future constitute forward-looking statements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. All forward-looking statements included in this press release are based on information available to the Company on the date hereof and the Company assumes no obligation to update any such forward-looking statement. Prospective investors should also consult the risk factors described from time to time in the Company's reports and other public disclosures.
Contact:
Tego Cyber Inc.
8565 S Eastern Avenue, Suite 150
Las Vegas, Nevada 89123
USA
Tel: 855-939-0100 (North America)
Tel: +1 725-726-7840 (International)
Email: investor@tegocyber.com
Web: tegocyber.com