BRIEF

on Cypher Metaverse Inc. (isin : CA23267C1032)

Cypher Metaverse Inc. Receives Cease Trade Order After Missing Filing Deadline

On May 1, 2025, Cypher Metaverse Inc. announced that it has not filed its audited financial statements for the fiscal year ending December 31, 2024, by the April 30 deadline. Consequently, the company is in default under National Instrument 51-102. The British Columbia Securities Commission has issued a management cease trade order (MCTO) affecting the company's CEO and CFO. However, regular shareholders can still trade their shares.

Cypher has assigned a new auditor, Davidson & Company LLP, and aims to complete the required filings by June 30, 2025. The company states there have been no material changes or additional defaults, is not undergoing insolvency proceedings, and remains committed to regular updates.

R. H.

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