Cybeats Amends Conversion Price of Convertible Debentures

Rhea-AI Summary

Cybeats Technologies (OTCQB: CYBCF), a software supply-chain security provider, has announced amendments to its $1.825 million convertible debentures issued on January 25, 2024. The company has received approval from holders of 66 2/3% of the principal amount to modify the conversion terms.

The conversion price has been reduced from $0.30 to $0.10 per common share. If the company's shares trade above $0.125 for 10 consecutive trading days, debenture holders will have 30 days to convert at the new price, after which it reverts to $0.30. The debentures mature on January 25, 2026.

Positive

• None.

Negative

• Potential significant dilution for existing shareholders at the lower $0.10 conversion price
• Current stock price likely trading below original $0.30 conversion price, indicating market weakness

Toronto, Ontario--(Newsfile Corp. - August 1, 2025) - Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) ("Cybeats" or the "Company"), a leading provider of software supply-chain security, announces a conversion price amendment to the $1.825 million principal amount of convertible debentures that were issued on January 25, 2024 (the "Convertible Debentures"). The Company has received written approval for the amendment from holders of 66 2/3% of the principal amount owing under the Convertible Debentures as required by the certificates governing the Convertible Debentures. As the Company seeks to enter a period of commercial expansion, it wishes to reduce the principal amount owing under the Convertible Debentures which are due to be paid on January 25, 2026.

The conversion price for the convertible debentures has been repriced to $0.10 per common share which was previously at $0.30 ‎per common share. As part of the repricing amendment, each holder of Convertible Debentures shall have thirty (30) days to convert the Convertible Debentures following written notice to the holders if during the term the common shares of the Company close above $0.125 per share on each trading day for a period of ten (10) consecutive trading days (the "Acceleration Period"). If the Holder does not elect to convert during the Acceleration Period, then the conversion price shall be reverted back to $0.30.

About Cybeats Technologies Corp.

Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) is a cybersecurity company providing Software Bill of Material (SBOM) management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. Cybeats platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency, increase revenue, and align organizations with current and future regulations. Cybeats. Software Made Certain. Website: https://cybeats.com

Contact:
Justin Leger, CEO
Phone: 1-888-713-SBOM (7266)
Email: ir@cybeats.com

Sean Peasgood, Investor Relations
Phone: (905) 667-6761
Email: Sean@SophicCapital.com

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE, and other risks as described in the Company's filings available on the Company's SEDAR+ profile at www.sedarplus.ca. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Company filings are available under the Company's SEDAR+ profile at www.sedarplus.ca.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261013

FAQ

What is the new conversion price for CYBCF's convertible debentures?

The conversion price has been reduced from $0.30 to $0.10 per common share for the $1.825 million convertible debentures.

When do CYBCF's convertible debentures mature?

The convertible debentures mature on January 25, 2026.

What triggers the 30-day conversion period for CYBCF's debenture holders?

The 30-day conversion period is triggered if Cybeats' shares close above $0.125 per share for 10 consecutive trading days.

How much approval was required for CYBCF's debenture amendment?

The amendment required and received approval from holders of 66 2/3% of the principal amount of the convertible debentures.

What happens if CYBCF debenture holders don't convert during the acceleration period?

If holders don't convert during the 30-day acceleration period, the conversion price reverts back to the original $0.30 per share.