AUTO:CC - Sandro Torrieri Announces Purchase of Units of Carbeeza Inc.
Files Early Warning Report
Sandro Torrieri (" Torrieri ") announces that he has acquired 5,000,000 units (“ Purchased Units ”) of Carbeeza Inc. (the " Company ") pursuant to a non-brokered private placement. The Units 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.
Immediately prior to the transaction described in Item 2.2, Torrieri owned (i) 10,640,330 Common Shares, and (ii) 1,000,000 options, representing approximately 16.65% of the currently outstanding Common Shares of the Company on a non-diluted basis.
After giving effect to the transaction described in Item 2.2, Torrieri owns a total of Common Shares and securities convertible or exercisable into Common Shares, comprised of (i) 15,640,330 Common Shares, (ii) 1,000,000 options, (iii) the Units, and (iv) the Warrants, which are exercisable into 5,000,000 Common Shares, this represents approximately 22.3% of the currently outstanding Common Shares of the Company on a non-diluted basis.
Torrieri acquired ownership of the Purchased Units for investment purposes. Depending on the market and other conditions, Torrieri will evaluate his investment in the Company and may increase or decrease his investment by future acquisitions and dispositions of Common Shares or other securities at his discretion, as circumstances warrant.
This press release is being issued pursuant to the requirements of Part 3 of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues . A copy of the Early Warning Report filed by Torrieri will be available under the Company's profile on SEDAR at www.sedar.com .
The TSX Venture Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release.
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Sandro Torrieri
620, 10180 - 101 Street
Edmonton, AB T5J 3S4
Telephone: 1-855-216-8802