VANCOUVER, BC / ACCESSWIRE / December 5, 2024 / Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") announces the Company and arms-length third parties and related parties have reached debt settlement agreements whereby the Company will issue 543,079 common shares at a price of $.70 per share for a total of $380,155.54, subject to 4 month restricted hold and subject to exchange approval.
Related parties transactions, account for 107,057 of the shares to be issued will be to 3 directors and officers, making this a related party transaction. The Company is relying upon exemptions contained in sections 5.5(a) and 5.7 (a) of MI 61-101 as the fair market value of the shares being issued is less than 25% of the market capitalization of the Company.
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