Carbeeza Inc. Secures Extension for Private Placement Closing

Author: Hannah Lewis Updated: 09-13-2024 07:00 PM

Carbeeza Inc. Announces Private Placement Extension

CALGARY, Alberta -- Carbeeza Inc. (TSXV:AUTO) (OTCQB: CRBAF) is excited to share that the TSX Venture Exchange has approved an extension to the non-brokered private placement, originally communicated on July 30. This extension allows the Company until October 11 to potentially close the offering, with up to 30,000,000 units priced at $0.10 each. The expected gross proceeds may reach as much as $3,000,000. The funding will be instrumental in scaling the Company’s marketing efforts and further advancing its expansion into the U.S. market.

Details of the Private Placement

The units being offered will include one common share along with a warrant. These warrants provide holders the right to purchase additional shares at $0.20 for a period of eighteen months from the closing date. Investors should note that the common shares and warrant shares will be subject to a hold period of four months and one day post-issuance, in accordance with the prevailing securities laws.

Target and Schedule for Closing

The anticipated closing date of the placement is around October 1, although this may change based on discretion from the Company’s board of directors. This provides potential investors a brief window to engage with the offering while ensuring compliance with regulatory measures.

Who Can Participate?

Participation in the Private Placement is open to accredited investors, close friends, and family of the board of directors, among others. Existing shareholders can also take part in the offering under the Existing Shareholder Exemption framework set forth by the Alberta Securities Commission. Carbeeza encourages any existing shareholder interested in this opportunity to reach out through the contact details provided.

Finder’s Fees and Other Considerations

In connection with the private placement, the Company may pay finder’s fees, as mutually agreed with finders. This can include a cash fee of up to 8% of the raised proceeds and common share purchase warrants, again amounting to 8% of the issued units. Each warrant allows the holder to acquire one common share at $0.20 within the same eighteen-month timeframe.

Company Overview

Carbeeza is revolutionizing the automotive sector with its AI-powered platform designed to enhance financing processes seamlessly. The software aims to offer a personalized experience in car buying by delivering optimal financing options while preserving user confidentiality. This innovative approach not only benefits consumers seeking vehicle purchases but also aids auto dealers in streamlining their operations.

Team Leadership

The initiative is led by Sandro Torrieri, Chief Executive Officer, who is dedicated to steering Carbeeza forward in bringing transformative solutions to the automotive marketplace.

Frequently Asked Questions

What is the purpose of the private placement?

The private placement aims to raise funds for expanding Carbeeza's marketing efforts and supporting its U.S. market entry.

How many units is Carbeeza planning to issue?

Carbeeza plans to issue up to 30,000,000 units during this private placement.

What is included in the units being offered?

Each unit will consist of one common share and one warrant, the latter of which can be used to purchase additional common shares at $0.20.

Who can invest in this offering?

The offering is open to accredited investors, family, friends, and existing shareholders under the Existing Shareholder Exemption.

Who is leading Carbeeza?

Carbeeza is led by Chief Executive Officer Sandro Torrieri, who provides strategic direction for the firm.

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