Mr. George Tsafalas reports

CYPHER METAVERSE INC. ANNOUNCES CLOSING OF FINANCING

Cypher Metaverse Inc. has closed its previously announced non-brokered private placement of 219,125 units at a price of 32 cents per unit for aggregate gross proceeds of $55,120.

Under the financing, each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder thereof to subscribe for one additional common share at a price of 40 cents for a period of two years from the date of closing, subject to the company's option to accelerate the expiry date if the stock trades at 60 cents for 10 trading days.

In connection with the financing, the company paid finders' fees to qualified finders in the amount of $409.60 and issued 1,280 finders' warrants. The finders' warrants are subject to the same terms as the warrants.

In accordance with the policies of the Canadian Securities Exchange and applicable securities legislation, the common shares and warrants comprising the units will be subject to a four-month-and-one-day hold period.

The company intends to use the net proceeds of the financing for general working capital and to review possible acquisitions.

About Cypher Metaverse Inc.

Cypher focuses on identifying and investing in early-stage opportunities across the digital landscape, participating in blockchain projects, including proof-of-work mining, proof-of-stake cryptocurrencies and decentralized finance. The company engages in digital experiences, collectively referred to as the Metaverse, which include non-fungible token-based gaming experiences.

The company leverages its strategic relationships to drive innovation and growth, creating new possibilities and opportunities.

We seek Safe Harbor.