Cypher Metaverse Inc (CSE:CODE, OTCQB:BKLLF) announced that it will issue up to 3,333,333 units of the company at $0.12 per unit in a non-brokered private placement to raise up to $400,000.
The proceeds will be used for its acquisition of Agapi Luxury Brands and general working capital purposes.
Each unit will consist of one share and one-half share purchase warrant entitling the holder to purchase an additional share for $0.15 for two years from the closing date, subject to conditions.
Cypher said it may pay qualified finders fees of up to 8% in cash and 8% in brokers warrants.