12:17 PM EDT, 08/07/2025 (MT Newswires) -- Cybeats Technologies ( CYBCF ) on Thursday said it raised $3.24 million as it closed a best efforts private placement of units of the company.

Under the LIFE offering, the company issued 32.37 million units priced at $0.10 each.

Each unit is made up of a share and one-half of a two-year warrant to buy a second share for $0.15.

The company plans to use the proceeds for the scale up of commercial activities, research and development and working capital and general corporate purposes.

The company's shares were last seen down $0.005 to $0.10 on the Canadian Securities Exchange.