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Cypher Metaverse Inc. Terminates Agreement with Agapi Luxury Brands Inc.
Settlement Agreement Details
Cypher Metaverse Inc. (CSE:CODE) has officially terminated its agreement with Agapi Luxury Brands Inc. The settlement agreement, dated November 14, 2024, involves Agapi issuing 802,290 common shares at $1.20 per share and a royalty on all future sales to settle the $962,748 in principal and interest advanced by Cypher.
The royalty agreement includes a 5% royalty on the first $5,000,000 of gross sales, an additional 2.5% royalty on sales between $5,000,001 and $7,5000,000, and another 2.5% royalty on sales between $7,500,001 and $10,000,000.
About Cypher Metaverse Inc.
Cypher Metaverse Inc. specializes in early-stage investments in emerging sectors, leveraging its relationships and capital to drive growth. The company currently has 1,435,253 issued and outstanding common shares.
Contact Information
If you need more information, you can contact Cypher Metaverse Inc. Corporate Communications, headed by CEO and Director George Tsafalas, at toll-free 1 (778) 373-8578.
Forward-Looking Statements
This news release contains forward-looking information subject to applicable securities laws. While Cypher Metaverse Inc. believes this information to be reasonable, readers are advised not to rely solely on it as actual results may vary. Cypher Metaverse Inc. commits to updating stakeholders on any significant developments.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
