Cypher Metaverse Inc. Completes $247K Private Placement

Cypher Metaverse Inc. (CSE:CODE.X) has announced the successful closure of its non-brokered private placement, issuing 749,258 units at $0.33 each. The total gross proceeds from this financing round amount to $247,256.14. Each unit comprises one common share and one purchase warrant, allowing holders to buy an additional share at $0.45 within two years, with a potential accelerated expiry if the stock hits $0.65 over ten trading days.

As part of the transaction, Cypher paid $10,256.40 in finder's fees and issued 31,080 finder's warrants, aligned with the main warrants' terms. The raised funds are earmarked for general corporate use, though the shares and warrants will be under a regulatory hold period of four months and a day.