Cybeats Grants Stock Options

Rhea-AI Summary

Cybeats Technologies (CSE: CYBT) (OTCQB: CYBCF) has announced the granting of 7,000,000 stock options to various employees, directors, officers, and consultants. The options are exercisable at $0.16 per share for a five-year period. Of the total, 3,250,000 options were granted to directors and officers. All options are subject to a four-month and one-day resale restriction under securities laws. The company utilized exemptions from valuation and minority shareholder approval requirements under MI 61-101 for the insider participation portion.

Positive

• Stock options provide incentive alignment between management and shareholders
• Long-term exercise period of 5 years indicates commitment to company growth

Negative

• Potential future dilution of 7,000,000 shares at $0.16 per share
• Significant insider participation with 46.4% of options granted to directors and officers

Toronto, Ontario--(Newsfile Corp. - December 12, 2024) - Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) ("Cybeats'' or the "Company") announces that it has granted 7,000,000 stock options (the "Options") to various employees, directors, officers and consultants of the Company.

Each Option is exercisable at a price of $0.16 for one common share of the Company (each a "Common Share") for a period of five years from the date of grant and are being issued under the terms of the Company's Omnibus Long-Term Incentive Plan. The Options, and any Common Shares issued upon exercise of the Options, are subject to a four-month and one day resale restriction from the date of grant under applicable securities laws.

The aforementioned grant of Options resulted in certain directors and officers of the Company receiving an aggregate of 3,250,000 Stock Options. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), contained in section 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.

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. Our 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:
James Van Staveren
Corporate Development
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. In particular, this news release contains forward-looking information relating to, among other things, the Company's expectations with respect to the use of proceeds and the use of the available funds following completion of the Offering, and the completion of the Offering. 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. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the products 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233499

FAQ

How many stock options did Cybeats Technologies (CYBCF) grant in December 2024?

Cybeats Technologies granted 7,000,000 stock options in December 2024.

What is the exercise price of CYBCF's December 2024 stock options?

The stock options have an exercise price of $0.16 per common share.

What is the vesting period for CYBCF's December 2024 stock options?

The options have a four-month and one-day resale restriction period from the date of grant.

How many stock options were granted to CYBCF insiders in December 2024?

Directors and officers received 3,250,000 of the total stock options granted.

What is the expiration period for CYBCF's December 2024 stock options?

The options are exercisable for a period of five years from the date of grant.