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BEBUZEE, INC. (OTC Pink: ENGA) ANNOUNCES PRIVATE PLACEMENT OFFERING OF UP TO $10 MILLION OF COMMON STOCK

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Bebuzee, Inc. (OTC Pink: ENGA) announced plans to offer up to $10 million in common stock via a private placement under Rule 506(c). This move aims to secure essential capital for core operational objectives in the competitive social media landscape. CEO Joseph Onyero emphasized that the funds will support various needs including working capital and further development of their video-sharing platform.

The offering is contingent on market conditions and is not a solicitation for securities sales.

Positive
  • Plans to raise up to $10 million in a private placement to enhance operational capabilities.
  • Focus on strengthening its position in the competitive social media sector.
Negative
  • Lack of historical profitability raises concerns about long-term viability.
  • Dependence on external funding can lead to shareholder dilution if the offering proceeds.

Contemplated Sale Of Restricted Shares Will Enable Company To Have Sufficient Capital As It Seeks To Become Hi-Profile Global Social Media Platform

MIAMI, FLORIDA, April 14, 2022 (GLOBE NEWSWIRE) -- The executive management of Bebuzee, Inc. (OTC Pink: ENGA) announced today that the company intends to offer, subject to market conditions and other factors, up to $10 million of its common stock in a private placement made subject to the exemption from registration provided for by Rule 506(c) of the Securities Act of 1933, as amended (the “Offering”).

“Raising this much needed capital in the proposed offering will allow Bebuzee to meet a number of its core operational objectives,” stated Joseph Onyero, Chief Executive Officer of Bebuzee, Inc. “Competition in the social media space is intense and having the needed capital to fully offer and market our unique value proposition is essential,” he continued.

Bebuzee intends to use the net proceeds from the Offering for general corporate purposes, including working capital, operating expenses, capital expenditures, and to pay for the further development of the company’s social media platform.

This press release is not an offer to sell and is not soliciting an offer to buy any securities, nor will it constitute an offer, solicitation, or sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

BEBUZEE, INC. (OTC Pink: ENGA) ANUNCIA OFERTA DE COLOCACIÓN PRIVADA DE HASTA $10 MILLONES DE ACCIONES ORDINARIAS

Bebuzee, Inc. (OTC Pink: ENGA)

Based in Miami, Florida, Bebuzee, Inc. offers a unique, proprietary video-sharing platform and streaming service that allows our members to watch a wide variety of content such as movies, series, documentaries and talk shows on any internet-connected device. Bebuzee’s technology scans the world’s news, features and information flow to give its dedicated readers the best of the Internet in one place. A one-stop platform for breaking news, interesting and important blogs, videos, and photos. Bebuzee offers an addictive resource for those millions of people without time to scavenge the Internet and other sources for news and information. Bebuzee’s latest investor pitch deck may be found at: https://www.bebuzeegroup.com/brochure.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, about Bebuzee, Inc. and the company’s industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding the proposed terms of the shares, the completion, timing, and size of the proposed offering of the shares, and the anticipated use of the net proceeds from the proposed offering of the shares are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “going to,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions. Bebuzee cautions you that the foregoing may not include all of the forward-looking statements made in this press release.

You should not rely on forward-looking statements as predictions of future events. Bebuzee has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends, including its financial outlook and the ongoing COVID-19 pandemic, that it believes may affect the company’s business, financial condition, results of operations, and prospects. These forward-looking statements are subject to risks and uncertainties related to: Bebuzee’s financial performance; the lack of historical profitability; the ability to generate and sustain positive cash flow; the ability to attract and retain users, publishers, and advertisers; competition and new market entrants; managing Bebuzee’s international expansion and growth and future expenses; compliance with new laws, regulations, and executive actions; the ability to maintain, protect, and enhance Bebuzee’s intellectual property; the ability to succeed in existing and new market segments; the ability to attract and retain qualified and key personnel; the ability to repay outstanding debt; future acquisitions, divestitures or investments; and the potential adverse impact of climate change, natural disasters, and health epidemics, as well as risks, uncertainties. In addition, any forward-looking statements contained in this press release are based on assumptions that Bebuzee believes to be reasonable as of this date. Bebuzee undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

Contact:
Bebuzee, Inc.
www.Bebuzee.com
pr@bebuzee.com


FAQ

What is Bebuzee's plan for the $10 million offering?

Bebuzee plans to use the proceeds for general corporate purposes, including working capital and further development of its social media platform.

When did Bebuzee announce the private placement?

Bebuzee announced the private placement on April 14, 2022.

What are the risks associated with Bebuzee's financial situation?

Bebuzee faces risks related to lack of historical profitability and reliance on external funding for operations.

What does the private placement mean for Bebuzee shareholders?

The private placement may cause shareholder dilution if new shares are issued, impacting existing investors' stakes.

What is Bebuzee's competitive strategy?

Bebuzee aims to enhance its offerings and marketing efforts to compete effectively in the social media space.

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