Cypher Metaverse Inc. Announces Shares for Debt Settlement

Cypher Metaverse Inc. has announced a plan to settle up to $435,000 in debt through the issuance of up to 870,000 common shares. This debt relates to fees for services provided by insiders and consultants. Each share will be priced at $0.50, in line with Cypher's ongoing offerings.

The issuance will be considered a related party transaction under certain regulatory definitions, though Cypher plans to rely on exemptions due to the value not exceeding 25% of the company's market capitalization. The transaction is set to close around November 10, 2026, pending standard approvals, including from the Canadian Securities Exchange.

All securities will be subject to regulatory hold periods and will not be registered under the U.S. Securities Act.