Le Lézard
Classified in: Science and technology, Business
Subject: STOCK/OTHER MARKET NEWS

Carbeeza Inc. Announces Share Purchase by CEO and Promissory Note


CALGARY, Alberta, Nov. 28, 2022 (GLOBE NEWSWIRE) -- Carbeeza Inc. (the "Company" or "Carbeeza"; TSX.V: AUTO) announces that it has been advised Sandro Torrieri, President and CEO of the Company, has purchased shares of Carbeeza Inc. in the public market. The company further announces that, in continued support of the Company, Mr. Torrieri has loaned $250,000 CAD to the Company (the "Loan").

Following the acquisition of 102,500 common shares of Carbeeza, Mr. Torrieri holds an aggregate of 10,640,330 common shares representing 16.65% of the issued and outstanding shares of the Company. Mr. Torrieri acquired these securities for investment purposes and may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.

Carbeeza issued a promissory note to the Mr. Torrieri with respect to the Loan. The principal amount of the loan bears interest at an annual rate of 12% per annum and matures November 1, 2024, at which date the principal and interest are due in full.

The Loan by Mr. Torrieri constitutes a related party transaction, as defined under applicable securities laws. The fair market value of the subject matter of the Loan is less than 25% of the Company's market capitalization and the Company is relying on the exemption under Section 5.7(f) of Multilateral Instrument 61-101 - Protection of Minority Security Holders In Special Transactions from the minority shareholder approval requirements.

There was no undisclosed material information by the Company at the date of the Loan and the independent directors of the Company have approved the Loan from Mr. Torrieri.

Torrieri commented: "Despite strong macro-economic headwinds, I am optimistic about the potential of the Company and its future positioning."

The Carbeeza platform is accessible on the web at www.carbeeza.com and the app is available for download on the Apple App and Google Play stores.

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, President and Chief Executive Officer

Neither the TSX Venture Exchange 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.

For further information please contact:

Interim Chief Financial Officer
Joanna Hampton, CPA, CGA
Email: ap@carbeeza.com

Investor Relations
Email: investorrelations@carbeeza.com
Telephone: 1-855-216-8802
Website: www.carbeeza.com  

Source: Carbeeza Inc.



These press releases may also interest you

at 09:10
LiveWorld, Inc. today reported financial results for the fiscal year ending December 31, 2022. 2022 Financial and Business Highlights Total revenues of $11.1 million, up 11% year-over-year Healthcare revenues of $9.9 million, up 12%...

at 09:09
Oakworth Capital Bank's (Oakworth) Central Carolinas location is expected to open its doors by mid-year and uniquely suits the company's mission to serve privately held businesses, professionals and families in the Charlotte area....

at 09:08
Broadview Group Holdings, LLC ("Broadview"), a leader in direct middle-market investing, announced today its investment in Coffman Stair Parts ("Coffman" or the "Company") in partnership with Hunters Gate Holdings, LLC. Terms of the transaction were...

at 09:07
Retro Hospitality, the Virginia hospitality firm, has selected Tambourine, the digital marketing company serving hotels, resorts, and tourism destinations, to re-imagine the Quirk Hotels digital experience....

at 09:07
RTK Group, LLC, ("RTK Group"), an early-stage advisory and investment fund supporting emerging technologies in the biotech and pharmaceutical sector, today announced it has joined the Massachusetts Biotechnology Council ("MassBio") as a member...

at 09:07
The Dominican Republic (the "Republic") announced today (i) the aggregate principal amount of bonds that have been validly tendered pursuant to its previously announced offer to purchase for cash the bonds (the "Existing Bonds") listed in the table...



News published on 28 november 2022 at 20:35 and distributed by: