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InvestorNewsBreaks – SPYR Inc. (SPYR) Finalizes Settlement Agreement Resulting in Cancellation of 36,272,684 Common Shares
December 20, 2022

InvestorNewsBreaks – SPYR Inc. (SPYR) Finalizes Settlement Agreement Resulting in Cancellation of 36,272,684 Common Shares

SPYR (OTCQB: SPYR), a diversified technology company developing products leveraging the Internet of Things (IoT) for consumer use and large-scale applications and industries, has entered into a settlement agreement and release with Berkshire Capital Management Co. Inc. and Joseph Fiore. The agreement outlines the cancellation of 36,272,684 total common shares, with Berkshire agreeing to cancel 33,831,508 common shares and Fiore agreeing to cancel 2,441,176. The cancellations were made in exchange for a release of claims of outstanding legal claims between the parties. “I am pleased to report the cancellation of these shares representing over 10% of our current issued and outstanding shares,” said SPYR CEO Timothy Matula in the press release. “The company entered into this agreement to resolve outstanding legal claims between it and Berkshire and Fiore. I am glad to have resolved the company’s claims in an informal matter that terminates Berkshire and Fiore’s beneficial ownership in these shares, and returns them to treasury.”

To view the full press release, visit https://ibn.fm/cqlu0

About SPYR Inc.

SPYR Technologies is a technology company focused on IoT, or the Internet of Things. Through its subsidiary GeoTraq business, SPYR develops and manufactures fully self-contained, ultra-small mobile IoT modules: Trackertracker-M modules for asset tracking and location-based services, and Sensorsensor-M modules used for remote monitoring. SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence (“AI”) and smart-technology products. For more information about this company, visit https://ir.spyr.com.

NOTE TO INVESTORS: The latest news and updates relating to SPYR are available in the company’s newsroom at https://ibn.fm/SPYR

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