Toronto, Ontario--(Newsfile Corp. - November 19, 2022) - Cybeats Technologies Corp. (CSE: CYBT) ("Cybeats' or the "Company") is pleased to report that it has retained Generation ICAP Inc. for Issuer Trading Services. In addition, the Company has retained professional marketing services in order to support its transition into the public markets.
The Company has retained Generation IACP Inc. ("GIACP") to provide services as a market maker in compliance with the policies and guidelines of the TSX Venture Exchange and applicable legislation. Under the agreement, GIACP will receive a fee of C$7,500 plus applicable taxes per month payable quarterly in advance at the direction of GIACP. The initial term of the agreement is six months from the date of execution and the agreement will automatically renew for an additional six-month term unless Everyday People provides written notice of termination to GIACP at least 30 days prior to the end of the term. Commencing on the first anniversary of the agreement, the fee payable to GIACP will automatically increase annually by 3.0%. No stock options are being granted and no compensation other than as stated above is payable in connection with the engagement. GIACP and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither GIACP nor its principals have an interest, directly or indirectly, in the securities of the Company. GIACP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities. GIACP, established in 1998, is a Toronto-based, independently owned, investment dealer providing innovative solutions for institutional, corporate and individual clients in Canada and abroad.
About Generation IACP (GIACP)
GIACP is an independently held and registered broker and member of the Investment Industry Regulatory Organization of Canada, the TSX-V, the Canadian Securities Exchange, and the NEO Exchange, and is a Participating Organization as such term is defined in the rules and policies of the Toronto Stock Exchange.
Other Business
The Company has retained the services of Toronto-based North Equities Corp. to provide marketing services to communicate to the financial community information about the Company for a six-month period which may be renewed or extended by both parties. In connection with the Contract, the Company will pay North Equities CAD $100,000. North Equities currently owns 200,000 common shares of the Company. North Equities specializes in various social media platforms and will be able to facilitate greater awareness and widespread dissemination of the Company's news.
"We are thrilled to be working with Cybeats as it is uniquely positioned to capitalize on the explosion of cybersecurity needs. Cybeats is newly funded and we're excited to be bringing new eyes to their next phase of growth," said Jason Coles, CEO at North Equites.
The Company also announces that it has engaged BullVestor Medien GmBH, and its general manager, Helmut Pollinger, both arm's-length parties to the company, to provide digital marketing services to the company commencing on November 21, 2022, and running a full year to November 21. 2023. The services will include the creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns. In consideration for providing the services, the company has agreed to pay BullVestor $300,000 CAD. Consideration offered to BullVestor does not include any securities of the company. Aside from this engagement, the company does not have any relationship with BullVestor.
Cybeats has recently announced that the common shares of the Company will commence trading on the Canadian Securities Exchange effective at the open of business on Monday, November 21, 2022, under the symbol "CYBT".
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About Cybeats
Cybeats is a leading software supply chain intelligence technology provider, helping organizations manage risk, meet compliance and secure software from procurement, development through operation. Our platform provides customers with deep visibility and universal transparency into their software supply chain, as a result enables them to increase operational efficiencies and revenue. Cybeats. Software Made Certain. Website: https://cybeats.com
Contact:
James Van Staveren
Corporate Development
Phone: 647-244-7229
Email: james@cybeats.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. 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 technology 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. Under the parent company, Scryb Inc., company filings are available at sedar.com.
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