VANCOUVER, BC / ACCESSWIRE / March 22, 2022 / Cypher Metaverse Inc. , formerly Codebase Ventures Inc. ("Cypher" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) announces it has completed its previously announced non-brokered private placement (the "Financing"). The Company raised proceeds on this final tranche of $178,500 through the sale of 2,550,000 Units. The Company paid finders fees to qualified finders of $14,280 and issued 204,000 broker warrants, which are on the same terms as the warrants forming part of the units.
The Company raised a total of $1,102,499.95. A total of 15,749,999 Units and 649,714 broker warrants were issued pursuant to the Financing.
Each unit consists of one common share and one common share purchase warrant at $0.07. Each warrant entitles the holder to purchase one additional common share at $0.09 for a period of two years from the date of closing, subject to the option of the Company to accelerate the expiry date in the event that its shares trade at $0.15 or more for 10 consecutive days..
Securities issued as a result of closing of this final tranche will be subject to a statutory hold period until July 22, 2022.
The net proceeds of the Financing will be used for working capital and for future investments.
About Cypher Metaverse Inc.
Cypher Metaverse Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem, fintech and the metaverse. The Company identifies such opportunities and applies its relationships and capital to advance its interests. www.cypher-meta.com
For further information, please contact:
George Tsafalas - Ivy Lu
Corporate Communications
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: INFO@cypher-meta.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.