Mr. James Van Staveren reports

CYBEATS ANNOUNCES UPSIZE TO PRIVATE PLACEMENT

Further to the press releases of Feb. 19, 2024, and March 8, 2024, Cybeats Technologies Corp. has increased the size of its previously announced non-brokered private placement to up to 16,666,666 units at a price of 15 cents per unit for aggregate gross proceeds of $2.5-million. The company closed the first tranche of the offering for gross proceeds of $1,145,255 on March 8, 2024.

Each unit consists of one common share in the capital of the company and one-half of one whole common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of 20 cents per common share until the date that is 18 months from the date of issuance.

Gross proceeds raised from the offering will be used for working capital and general corporate purposes. The securities issued upon closing of the offering will be subject to a hold period of four months plus a day from the date of closing pursuant to applicable securities laws. The closing of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange.

About Cybeats Technologies Corp.

Cybeats is a cybersecurity company providing SBOM management and software supply chain intelligence technology and helping organizations to manage risk, meet compliance requirements and secure their software from procurement to development and operation. Its platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue.

We seek Safe Harbor.