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CALGARY, AB / ACCESS Newswire / February 27, 2025 / Carbeeza Inc. ("Carbeeza" or the "Company") (TSXV:AUTO)(OTCQB:CRBAF) today announced that, further to its news releases of July 30, 2024, and September 24, 2024, it has received final acceptance from the TSX Venture Exchange (the "Exchange") in regards to a private placements originally closed on July 29, 2024 and September 26, 2024, respectively.
On July 29, 2024, the Company sold a total of 700,000 units (each, a "Unit") for gross proceeds of $70,000. Each Unit sold consisted 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 $0.20 per Warrant.
On September 26, 2024, the Company issued 12% convertible unsecured debentures (the "Debentures") for gross aggregate proceeds of $300,000. The Debentures were issued at a price of $1,000 per Debenture and bear interest at a rate of 12% per annum, payable in arrears on the maturity date. The Debentures mature on September 26, 2026. The Debentures are convertible at any time prior to maturity at the option of the holders into units ("Conversion Units") of the Company at a conversion price of $0.10 per Conversion Unit. The Units will consist of one common share and one full common share purchase warrant ("Conversion Warrant") exercisable for a period of twenty-four months from the closing date at a price of $0.20 per Conversion Warrant.
There were no finder's fees payable in connection with the issuance of the Units or Debenture.
The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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.