CALGARY, Alberta--(BUSINESS WIRE)--Carbeeza Inc. ("Carbeeza" or the "Company") (TSX.V:AUTO) (OTCQB: CRBAF) is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 10,000,000 units of the Company (“Units”) at a price of $0.20 per Unit for gross proceeds of $2,000,000. The net proceeds of the Private Placement will be used by the Company to scale up the marketing campaign, to support the Company's move into the United States market and for general corporate purposes.
The Units will consist of one common share and one full common share purchase warrant (“Warrant”) exercisable for a period of eighteen months from the closing date at a price of $0.25 per Warrant.
The Private Placement will be conducted pursuant to available prospectus exemptions including sales to accredited investors, family members, close friends and business associates of directors and officers of the Company, and to existing shareholders of the Company pursuant to the exemption set out in Alberta Securities Commission Rule 45-516 (Prospectus Exemptions for Retail Investors and Existing Security Holders) (the "Existing Shareholder Exemption"). The Company encourages existing shareholders who wish to participate in the Private Placement to contact the Company at the contact details below.
A finder's fee may be paid in connection with the Private Placement to finders as determined by mutual agreement between the Company and the finders and subject to TSX Venture Exchange (“TSXV”) approval. The finders' fee shall consist of a cash fee of eight percent (8.0%) of the gross proceeds of the Private Placement raised by the finder and common share purchase warrants of the Company (the “Broker Warrants”) equal to eight percent (8%) of the number of Units issued as a result of the finder under the Private Placement. Each Broker Warrant entitles the holder thereof to acquire one Unit of the Company at $0.25 per Broker Warrant expiring eighteen months from the closing date.
The Private Placement is expected to close in late 2023 on such date as may be determined by the directors of the Company. The closing of the Private Placement is subject to regulatory approval including but not limited to, the approval of the TSXV.
Carbeeza Inc.
Carbeeza is a Canadian-based software company whose platform is targeted to the automotive marketplace. It is the first application to harness the power of Artificial Intelligence to accurately predict the best financing scenario for consumers, all while keeping the consumer anonymous. Using state-of-the-art technology, Carbeeza brings the process of buying a car right to the phone, tailor-made for the consumer. Carbeeza is highly beneficial to both consumers and auto dealers.
ON BEHALF OF THE BOARD OF DIRECTORS OF CARBEEZA INC.
Sandro Torrieri, Chief Executive Officer
Neither the TSXV nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.