CyberCatch Announces Debt Settlement for Shares

Vancouver, British Columbia and San Diego, California--(Newsfile Corp. - September 3, 2024) - CyberCatch Holdings, Inc. (TSXV: CYBE) ("CyberCatch'' or the "Company"), a cybersecurity company offering an AI-enabled platform solution for compliance and cyber risk mitigation, announces that it has settled US$ 720,000 of debt (the "Debt") through the issuance of common shares of the Company (the "Shares"). In accordance with the settlement of the Debt (the "Debt Settlement") the Company will issue 4,900,000 Common Shares at a deemed price of $0.20 per share to the Company's Founder and CEO Sai Huda. The loan was Incurred to cover operating expenses. The Debt Settlement will provide Sai Huda as beneficial owner of 6.5 million shares of 10,592,165 shares issued and outstanding.

"Settlement improves the balance sheet and shows my commitment to do what is in the best interest of shareholders, and it also reflects my confidence in the Company's future. Revenues increased 194.46% over nine months this fiscal year compared to previous and we have continued growth momentum with a robust sales pipeline," commented Sai Huda.

The Debt Settlement constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101") as the creditor is a control person, director and CEO of the Company. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(g) and 5.7(e) of MI 61-101, due to financial hardship and as the transaction is designed to improve the financial position of the Company, as determined in accordance with MI 61-101. The Debt Settlement is subject to final approval of the TSXV.

The Debt Settlement was approved by the members of the board of directors of the Company who are independent for the purposes of the Debt Settlement. No special committee was established in connection with the Debt Settlement.

About CyberCatch
CyberCatch Holdings, Inc. (TSXV: CYBE) provides a proprietary, AI-enabled Software-as-a-Service (SaaS) solution that provides continuous compliance and cyber risk mitigation to organizations in critical segments, so they can be safe from cyber threats. The CyberCatch platform focuses on solving the root cause of why cyberattacks are successful: security holes from control deficiencies. It first helps implement all mandated and necessary controls, then the platform automatically and continuously tests the controls from three dimensions (outside-in, inside-out and social engineering) to find control failures so one can fix them promptly to stay compliant and safe from attackers. Learn more at: https://www.cybercatch.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Investor Relations
Phone: 1-866-756-2923
Email: info@cybercatch.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221918