TORONTO, November 22, 2022 – Cybeats Technologies Corp. (“Cybeats'' or the “Company”)(CSE: CYBT) is pleased to announce its listing and commencement of trading on the Canadian Securities Exchange under the symbol “CYBT”.

Cybeats^[1] is a cybersecurity company offering leading SBOM Management and software supply chain intelligence technology, helping organizations manage cybersecurity risk, comply with regulatory requirements, and secure software from procurement through to operation. Cybeats’ SBOM Studio platform provides customers with enhanced visibility and universal transparency into their software supply chain, and as a result enables them to increase operational efficiencies and revenue.

^[1] https://www.cybeats.com/

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“This milestone marks a truly pivotal moment in Cybeats’ journey. I’d like to take this opportunity to thank investors, Cybeats’ management and the broader team for their tremendous efforts in making this all possible. Cybeats views its public listing as its natural progression to accelerate the global commercial reach of its cybersecurity products. The opportunity is immense, and this go-public step can be viewed as a crucial early milestone of our exciting road ahead,“ said Yoav Raiter, CEO, Cybeats.

“I'm pleased to see Cybeats becoming a public company after having co-founded it almost 6 years ago. We are here now because of all the dedicated people who worked hard and refused to give up, and it validates the proverb - 'it takes a village to raise a child'. Product-market fit is something we strongly value here at Cybeats, and on a daily basis and with open communication lines to our visionary customers, we are building something truly unique and valuable. Our solutions are imperative to making the world a more secure place,“ said Dmitry Raidman, co-founder and CTO, of Cybeats.

"Since joining the Cybeats team in April, the demand for Cybeats’ SBOM Studio has grown exponentially, as demonstrated by the overwhelming number of organisations moving through our commercial pipeline." From the White House Executive Order on Cybersecurity from 2021 to the recent EU regulation called the "Cyber Resilience Act" and several others, they have all helped provide support and validation in the market for Cybeats’ solutions. Organizations being faced with increasing regulatory mandates is further accelerating the growing commercial opportunity for Cybeats,” said Bob Lyle, CRO, Cybeats.

Cybeats’ Management and Directors:

Yoav Raiter, CEO and Director

Yoav’s career has focused on developing innovative software and medical device products, mainly for start-ups and fast-growing companies. He has developed processes to ensure delivery against client needs at a high quality standard, improved operations, and a business strategy. Prior to joining Scryb and Cybeats, he was project manager for strategic accounts at StarFish Medical and director of project management and business development at Kangaroo Group. He has also held several prominent positions managing large-scale ERP product development and implementation projects for broadcasters in Canada and the US for Pilat Media and Sintec Media. Yoav was the co-founder and co-CEO of Panta-Rhei, a software development and consulting firm. He received an MBA, specialising in high-tech innovation strategy, from Haifa University in Israel in 1997 and a B.S. in industrial engineering in 1993.

Dmitry Raidman, CTO

Dmitry is a Canadian-Israeli entrepreneur and cybersecurity professional who has been around the technology ecosystem for over two decades. Dmitry’s specialty is in the areas of application security, cloud architecture, DevOps, DevSecOps, and the automation of cyber defense mechanisms. Dmitry co-founded Cybeats in 2016. In late 2018, Dmitry joined the NTIA group that worked to shape the SBOM standard. In 2020, Dmitry invented the SBOM Studio solution to help enterprises consume and manage SBOMs. To give back to the cybersecurity community, Dmitry co-founded the Security Architecture Podcast in 2020. Today, Dmitry leads innovation, technology, and product in Cybeats as CTO and participates in various working groups to define the future of SBOM, VEX, CSAF, PACE, and OpenC2.

Bob Lyle, CRO

For over 30 years, Mr. Lyle has led high-performing sales teams and fast-growing companies in the US and internationally, holding executive leadership positions at cybersecurity companies including Absolute Software Corporation, a renowned American-Canadian company dual listed on the TSX and NASDAQ. Bob is the Chairman of the Device Security Group at GSMA (Global System for Mobile Communications), an industry IoT device security group that includes 750 mobile device operators around the globe. Bob recently served as Senior Vice President at Spy Cloud, where he led the company’s security business development efforts to engage with key market verticals such as telecommunications, e-commerce, and others. Prior to Spy Cloud, Lyle held leadership positions at Motorola, Samsung and Qualcomm, and co-founded a mobile enterprise security focused startup, Valona Labs, that was acquired 18 months later in 2020 by HMD Global (NOKIA Mobile).

Josh Bald, CFO

Mr. Bald attained an HBA degree from the Richard Ivey School of Business at Western University. He obtained his Chartered Professional Accounting designation. He has held senior financial positions in multiple public companies, involving executive functions, corporate governance, operations, corporate finance, human resources, and strategic partnerships. Mr. Bald supports executive teams in product and commercial strategies, including pricing and market penetration, and leads strategic talent acquisition efforts for senior cybersecurity positions at the company. Previously, he held the position of manager in the audit department at Ernst & Young.

Justin Leger, COO & Director

Justin Leger is a seasoned operations professional who has helped tech and government organisations scale their operations by turning strategic intent into tactical action. As a management consultant, he has helped numerous start-ups operationalize and scale up by leading strategic planning, establishing business processes, supporting product development, and recruiting key personnel. He has served as a senior director of business performance at Maximus Canada, where he led the bid and delivery of a new and complex line of business with the Canadian federal government. He served as a senior officer in the Canadian Armed Forces as a logistics officer, most notably in Canada's Special Operational Forces, where he deployed numerous times on missions of national strategic importance. Justin received his BA in political science from Dalhousie University in 2006 and his MBA from Royal Roads University in 2017.

Greg Falck, Director

Mr. Falck has a diverse leadership background within both the military and private sector. He served nine years as an Electrical and Mechanical Engineering Officer in the Canadian Armed Forces, including two years as a platoon commander in the Canadian Special Operations Regiment, responsible for the support of the unit's equipment during all foreign and domestic activities. As head of R&D at Aluula Composites Ltd., his multidisciplinary team developed a novel ultra-high strength-to-weight ratio composite material, winning the ISPO Textrends 2020 Best Product award in its first year of commercialization. He is currently developing and introducing new variations of the material to commercial fields such as aerospace and protective equipment. He graduated from the University of Western Ontario with a Bachelor of Engineering Science in 2009.

Michael Minder, Director

Michael Minder is a seasoned finance professional with over 25 years of international banking experience. He held senior leadership roles in asset and wealth management for Credit Suisse Group in both Switzerland and North America, managing the assets of high-net-worth accounts. In 1998, he left the Credit Suisse Group to form his own firm, providing international investment banking and investor relations advisory services to numerous U.S., Canadian, and European listed companies. Michael recently completed the University of Oxford Certification in Cyber Security for Business Leaders.

Medhanie Tekeste, Director

Mr. Tekeste is an executive with over 20 years of information systems experience, including many years of broad-based management expertise in system development, implementation, and support. He is experienced in strategically and cost-effectively utilising technology to achieve corporate goals. He has extensive global experience in service delivery in the pharmaceutical industry, including quality, manufacturing, and R&D processes. Medhanie also has considerable experience in laboratory quality assurance testing and computer system validation. Currently, he is the Chief Information Officer at Apotex Inc., where he is responsible for the delivery of all end-to-end IT services globally, including enterprise architecture, cloud and platform services, service design, data governance, software quality assurance, security management, governance, programme management, and business enablement.

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About Cybeats

Cybeats is a leading SBOM management and software supply chain intelligence technology provider, helping organisations manage risk, meet compliance, and secure software from procurement through operation. Our platform provides customers with deep visibility and universal transparency into their software supply chain, which, as a result, enables them to increase operational efficiencies and revenue. Cybeats. Software Made Certain. Website: https://cybeats.com  

Contact:

James Van Staveren

Corporate Development

Phone: 1-888-713-SBOM (7266)

Email: james@cybeats.com

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law.   Forward-looking information is frequently characterized by words such as "plan", "expect "," project", "intend", "believe", "anticipate "," estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.   Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE.  There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein.  The Company under takes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required bylaw.  The reader is cautioned not to place undue reliance on forward-looking statements.  Under the parent company, Scryb Inc., company filings are available atsedar.com.

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