Scryb Closes Oversubscribed Private Placement for over $1.4M

Core Points - Scryb Inc. has successfully completed an oversubscribed private placement, raising gross proceeds of $1,470,970 by issuing 14,709,700 units at a price of $0.10 per unit [1][2] - The offering was initially announced for up to 6,000,000 units and was later upsized to 15,000,000 units [1] - The proceeds from the offering will be used for general working capital purposes [3] Offering Details - Each unit consists of one common share and one half of a common share purchase warrant, with each full warrant exercisable into one common share at a price of $0.18 for 18 months [2] - The company paid finders a cash fee of up to 7% of the gross proceeds, totaling $36,733, and issued 469,700 finder warrants under the same terms as the regular warrants [4] Insider Participation - Insiders acquired a total of 5,560,000 units in the offering, which is classified as a related party transaction [5] - The company relied on exemptions from certain requirements under Multilateral Instrument 61-101 due to the insider participation [5]