Scryb Inc. announced a non-brokered private placement of up to 40,000,000 units at an issue price of CAD 0.125 per unit for gross proceeds of up to CAD 5,000,000 on March 20, 2023. Each unit is comprised of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of CAD 0.15 on or before the date that is 18 months from the date of issuance. Gross proceeds raised from the Offering will be used for working capital and general corporate purposes. The securities issued upon closing of the offering will be subject to a hold period of four months plus a day from the date of closing, pursuant to applicable securities laws. The closing of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange. Certain eligible persons were issued 210,000 units representing cash commission in the amount of CAD 26,250.

On the same date, the company issued 10,555,000 units at an issue price of CAD 0.125 per unit for gross proceeds of CAD 1,319,375 in its first tranche closing.