Carbeeza Announces Settlement Agreement

CALGARY, AB / ACCESS Newswire / June 13, 2025 / Carbeeza Inc. ("Carbeeza" or the "Company") (TSXV:AUTO)(OTCQB: CRBAF) announces that, further to its news release of June 21, 2024, the Company has entered into a settlement and release agreement (the "Settlement") with Northern Micro Inc. and IDX Systems Corp. (the "Claimants"), in connection with a Statement of Claim filed by the Claimants for unpaid professional services. The claim relates to a licensing and service agreement, sublease, and sales agreement previously entered into between the Company and the Claimants.

In consideration for the mutual full and final release of claims, the Company agreed to pay the Claimants $1,700,000, inclusive of applicable taxes, payable in monthly installments commencing from the date of the Settlement and continuing through to September 2027. The Company may, at its discretion, make additional payments in advance without penalty. Upon full payment of the settlement amount, the parties shall file a discontinuance of claim in Alberta.

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.

Mark Tommasi, Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Mark Tommasi, Interim Chief Executive Officer
Email: [email protected]
Telephone: 604 318 1448
Website: www.carbeeza.com

SOURCE: Carbeeza Inc.

You May Also Be Interested In

• Uber Is Said To Be In Advanced Talks On Delivery Hero Takeover - Bloomberg
• Xcel Brands signs licensing deal for Christie Brinkley home decor line
• UBS Reiterates Buy Rating on Boot Barn (BOOT), Expects Q1 Earnings Beat