TORONTO, November 1, 2023 – Cybeats Technologies Corp. (“Cybeats'' or the “Company”)(CSE: CYBT)(OTCQB: CYBCF) is pleased to announce the appointment of Justin Leger^[1], MBA, as Chief Executive Officer. As incoming CEO, Mr. Leger’s primary mandates are to drive the optimization and refinement of growing commercial operations, and to accelerate the company's foundation of dedicated U.S. infrastructure including corporate headquarters and listing on a senior U.S. exchange such as the NASDAQ. The appointment is effective immediately.

Justin’s appointment as CEO follows the successful commercial launch of SBOM Studio, which is now the solution of choice for several of the world’s largest infrastructure and medical device companies from the Fortune 500^[2].  Mr. Leger is an accomplished operator who has led businesses to winning and servicing complex G7 government contracts. He formerly served in the Special Operations Forces, and at Maximus Canada as Sr. Director of Business Performance.

"Having first-hand experience supporting Cybeats launch and explosive series of early commercial successes, I’m very confident in the company's ability to outperform and deliver tangible results moving forward. I strongly believe in the mission of the Company, and in this new role my priorities are clearly defined: streamline operations, elevate sales results and build new momentum and recognition with public markets and wider investor audiences. Expect increased communication from the CEO. Cybeats is at its commercial inflection point, and well-positioned to capitalize on strong regulatory market tailwinds and an expanding revenue opportunity,” said Justin Leger, CEO, Cybeats.

Mr. Leger will assume the CEO role from his previous position of Chief Operating Officer at Cybeats, held since March 2022. Having worked closely with Cybeats’ technology and commercial divisions, he is well equipped to assume the CEO role to drive sales performance and business outcomes. Having held roles in the Special Operations Forces Command as well as senior executive, operational, and business development roles, Justin comes to this leadership position with the momentum, drive, and focus to deliver commercial results for Cybeats.

Yoav Raiter was instrumental in the development and commercialization of the SBOM Studio^[3] product, bringing it to its leadership position in the SBOM management marketplace today. Mr. Raiter successfully navigated the spinout of the Company, and transformed the Software Bill of Materials (SBOM) project into a compelling and marketable product –SBOM Studio– that has earned validation from Fortune 500 customers. Yoav is stepping down from the role to focus his efforts on continued development as CEO of Scryb, Inc. where Cybeats was developed and brought to market. Yoav Raiter will continue to contribute to Cybeats' as a special advisor and as a member of the Company’s Board of Directors. The Company would like to thank Yoav for his leadership and continued dedication to Cybeats.

“I have worked closely with Justin for the last 18 months, while launching the product and establishing our initial commercial practices and I have the utmost confidence that he is the right person to take Cybeats to the next stage now as we close in on Cybeats first year in the commercial market. I am incredibly proud to transfer this role to Justin with Cybeats as the market leader in SBOM Management and look forward to supporting  him and the team as Cybeats continues to achieve success in the industry.” said Yoav Raiter, Director, Cybeats.

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About Cybeats

Cybeats is a cybersecurity company providing SBOM management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. Our platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Software Made Certain. Website: https://cybeats.com

SUBSCRIBE: For more information, or to subscribe to the Company’s mail list, visit: https://www.cybeats.com/investors

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Contact:

James Van Staveren

Corporate Development

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

Email: ir@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 products described in this news release will come into effect on the terms or time frame described herein.  The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law.  The reader is cautioned not to place undue reliance on forward-looking statements.  Company filings are available at sedar.com.
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^[1] https://www.linkedin.com/in/justin-leger/

^[2]https://www.cybeats.com/news/cybeats-announces-engagement-with-global-smart-manufacturing-leader-provides-commercial-update-highlighting-237-mrr-growth

^[3] https://www.cybeats.com/sbom-studio

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