Mr. James Van Staveren reports

CYBEATS CLOSES OVERSUBSCRIBED PLACEMENT FOR GROSS PROCEEDS OF OVER $2.4 MILLION

Cybeats Technologies Corp., further to its news releases of Feb. 19, 2024, March 8, 2024, and March 27, 2024, has closed the second and final tranche of its previously announced non-brokered private placement financing for gross proceeds of $1,279,850 through the issuance of 8,532,333 units at a price of 15 cents per unit. The aggregate gross proceeds raised pursuant to the offering was $2,425,105 through the issuance of 16,167,367 units.

Each unit consists of one common share in the capital of the company and one-half of one whole common share purchase warrant. Each whole 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.

In connection with the offering, the company paid certain eligible persons: (i) a cash commission in the aggregate of $27,540; and (ii) an aggregate of 160,200 finder warrants. Each finder warrant is exercisable at a price of 20 cents per common share until Oct. 12, 2025.

The offering constituted a related-party transaction as defined in Multilateral Instrument 61-101 -- Protection of Minority Securityholders in Special Transactions, as an insider of the company acquired 500,000 units. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the offering by insider does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101. The company did not file a material change report in respect of the related-party transaction at least 21 days before the closing of the offering, which the company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the offering in an expeditious manner.

The company also announces it has entered into an investor relations agreement dated April 1, 2024, with Spark Newswire Inc., an arm's-length party to the company. The term of the agreement is for a period of two months. Pursuant to the agreement, Spark has agreed to provide business development and capital markets services to the company in consideration for $200,000, which will be satisfied through the issuance of shares following completion of the term. The company shall issue a press release disclosing the share issuance on completion of term. Spark's business address is 800, 885 West Georgia St., Vancouver, B.C., V6C 3H1, e-mail: info@sparknewswire.com, telephone: 604-999-7361. Spark currently owns nil securities of the company.

The company also announces it has entered into an investor relations agreement dated April 2, 2024, with Outside The Box Capital Inc., an arm's-length party to the company. The term of the agreement is for a period of six months. Pursuant to the agreement, Outside the Box has agreed to provide marketing and distribution services to the company, in consideration for $100,000. Outside the Box's business address is 2202 Green Orchard Pl., Oakville, Ont., L6H 4V4 Canada, e-mail: jason@outsidethebox.capital, telephone: 289-259-4455.

Finally, the company announces that Yoav Raiter has resigned as director of the company, effective immediately. The company wishes to thank Mr. Raiter for his valuable contribution to the company and wishes him every success in his future endeavours.

About Cybeats Technologies Corp.

Cybeats is a cybersecurity company providing SBOM (software bill of materials) 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. The platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats -- software made certain.

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