Cyber App Solutions Corp. announced a private placement to issue convertible promissory note to each investor in the principal amount of $8,000,000 and the aggregate principal amount of the Notes is $16,000,000 on November 21, 2023. The transaction will include participation from Kips Bay Select LP and Cyber One, LTD. The notes are issued with an original issue discount of 50% and bear simple interest accruing as of November 21, 2023, at the rate of five percent 5% per annum prior to any Event of Default or 18% per annum following any Event of Default.

The interest shall be computed on the basis of a 360-day year and twelve 30-day months and shall not compound. Unless sooner paid off or converted in the manner described below, all principal under the Note, together with all accrued and unpaid interest thereupon, will be due and payable on July 21, 2024.