Carbeeza Inc. Announces Private Placement

Rhea-AI Summary

Carbeeza Inc. (TSX.V:AUTO) (OTCQB: CRBAF) plans a non-brokered private placement of up to 10,000,000 units at $0.20 per unit, aiming to raise $2,000,000 for expanding marketing efforts and entering the US market. The units include common shares and warrants, and the private placement is expected to close in late 2023, subject to regulatory approval. Carbeeza is a Canadian-based software company using AI to predict the best financing scenario for car buyers, benefiting both consumers and auto dealers.

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.

Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"). By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231201017683/en/

Sandro Torrieri, Chief Executive Officer

Investorrelations@carbeeza.com

1-855-216-8802

www.carbeeza.com

Source: Carbeeza Inc.

FAQ

What is the purpose of Carbeeza Inc.'s (TSX.V:AUTO) private placement?

Carbeeza Inc. plans to raise $2,000,000 through a non-brokered private placement to expand its marketing campaign and enter the US market.

How many units is Carbeeza Inc. (OTCQB: CRBAF) offering in the private placement?

Carbeeza Inc. is offering up to 10,000,000 units at a price of $0.20 per unit in the private placement.

When is the expected closing date of Carbeeza Inc.'s (TSX.V:AUTO) private placement?

The private placement is expected to close in late 2023.

What is the purpose of the units in the private placement of Carbeeza Inc. (OTCQB: CRBAF)?

The units in the private placement include one common share and one full common share purchase warrant, aiming to raise funds for the company's expansion.

What is the business focus of Carbeeza Inc. (TSX.V:AUTO)?

Carbeeza Inc. is a Canadian-based software company using AI to predict the best financing scenario for car buyers, benefiting both consumers and auto dealers.