Mr. Brian Keane reports

CYPHER METAVERSE INC. ANNOUNCES CLOSING OF FINANCING

As per Canadian Securities Exchange policy, Cypher Metaverse Inc. intends to close its previously announced non-brokered private placement on Dec. 28, 2023. The company accepted subscriptions for 2,325,000 units at a price of 12 cents per unit for gross proceeds of $279,000.

Pursuant to the terms of the financing, each unit consists of one common share and one-half of a common share warrant. Each whole warrant entitles the holder to subscribe for one additional common share for 15 cents for a period of two years from the date of closing, subject to the corporation's option to accelerate the expiry date if the stock trades at 20 cents for 10 trading days.

The common shares and warrants comprising the units will be subject to a four-month-and-one-day hold period in accordance with the policies of the CSE and applicable securities legislation.

The company paid finders' fees to qualified finders in the amount of $18,755 and issued 156,300 broker warrants.

The company intends to use the net proceeds of the offering for the acquisition of Agapi Luxury Brands Inc. Pursuant to the company's agreement to lend funds to Agapi as it works through the exchange's RTO (reverse takeover) process, the company has now lent Agapi a total of $886,692 to advance its business plan.

About Cypher Metaverse Inc.

Cypher Metaverse seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem, fintech (financial technology) and the metaverse. The company identifies such opportunities and applies its relationships and capital to advance its interests.

The company's head office is located at Suite 1780, 355 Burrard St., Vancouver, B.C., V6C 2C8. The common shares of Cypher Metaverse are currently listed on the CSE and Cypher Metaverse is a reporting issuer in the provinces of British Columbia, Alberta and Ontario.