Mr. Brian Keane reports

CYPHER METAVERSE INC. CLOSES PRIVATE PLACEMENT

Cypher Metaverse Inc. has closed its previously announced non-brokered private placement of 2,325,000 units at a price of 12 cents per unit for aggregate gross proceeds of $279,000.

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

In connection with the financing, the company paid finders' fees to qualified finders in the amount of $18,755 and issued 156,300 broker warrants. The broker warrants are subject to the same terms as the warrants.

In accordance with the policies of the Canadian Securities Exchange and applicable securities legislation, the common shares and warrants comprising the units will be subject to a four-month-and-one-day hold period.

The company intends to use the net proceeds of the financing for the acquisition of Agapi Luxury Brands Inc. Pursuant to the company's agreement to loan Agapi funds as it works through the Canadian Securities Exchange's reverse process, the company has now loaned 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 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, and its common shares are currently listed on the CSE. Cypher Metaverse is a reporting issuer in the provinces of British Columbia, Alberta and Ontario.