Cypher Metaverse to raise $500K via private placement at $0.33/unit

Cypher Metaverse (CXDEF) announced that it has launched a  private placement to raise up to $500,000, offering common share units at $0.33 each, with each unit including one common share and one warrant, which can be exercised for two years at $0.45.

The company said it may shorten the expiry date if its stock reaches $0.65 for 10 trading days.

The funds will be used for general purposes and to finish the acquisition of Noninvasix Inc.

Securities from this placement will have a 4-month hold period from closing.