Carbeeza Inc. Announces Private Placement Extension

CALGARY, Alberta, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Carbeeza Inc. ("Carbeeza" or the "Company") (TSXV:AUTO) (OTCQB: CRBAF). The TSX Venture Exchange (the "Exchange") has approved an extension until October 11, 2024 to close the non-brokered private placement (the "Private Placement"), announced on July 30, 2024, of up to 30,000,000 units of the Company ("Units") at a price of $0.10 per Unit for gross proceeds of up to $3,000,000 (the "Offering"). The net proceeds of the Offering will be used by the Company to scale up its marketing campaign, to scale up the Company’s move into the United States 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 $0.20 per Warrant.

The common shares and the Warrant Shares will be subject to a four month and one day hold period from the date of issuance of the Units in accordance with applicable securities laws and the policies of the Exchange. The Private Placement is expected to close on or around October 1, 2024 or such other date as may be determined by the directors of the Company.

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 up to 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 Common Shares of the Company at $0.20 per Broker Warrant expiring eighteen months from the closing date.