Toronto, Ontario--(Newsfile Corp. - July 10, 2025) - SuperBuzz Inc. (TSXV: SPZ) ("SuperBuzz" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement, raising aggregate gross proceeds of C$1,051,812 through the issuance of 7,512,942 units of the Company (each, a "Unit") at a price of C$0.14 per Unit (the "Offering"). Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional Common Share at a price of C$0.24 per Common Share for a period of 24 months from the date of issuance.
The net proceeds of the Offering will be used for general working capital purposes.
In connection with the Offering, the Company paid eligible finders an aggregate cash commission of C$35,363 and issued an aggregate of 214,591 non-transferable finder's warrants (each, a "Finder's Warrant"). Each Finder's Warrant entitles the holder to acquire one Common Share at a price of C$0.14 per Common Share for a period of 24 months from the date of issuance.
Two insiders of the Company participated in the Offering and subscribed for an aggregate of 500,714 Units. Such participation constitutes a "related-party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued to the insiders, nor the consideration paid by them, exceeded 25% of the Company's market capitalization (as determined in accordance with MI 61-101).
All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. The closing of the Offering remains subject to final approval by the TSX Venture Exchange.
The securities issued under this Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
About SuperBuzz
SuperBuzz is revolutionizing how people interact with technology. Its AI platform leverages GPT-3 to automate many processes, including push notifications and content creation. The platform simplifies the user experience, allowing for advanced digital interaction that cuts back on manual tasks. Moreover, SuperBuzz's AI platform intelligently responds to small and medium-sized businesses' unique needs, making it an incredibly reliable and powerful tool for various applications.
Additional information in respect of the Company's business is available under the Company's SEDAR+ profile at www.sedarplus.ca.
For Additional Information, Contact:
Liran Brenner
Chief Executive Officer
Email: liran@superbuzz.io
Phone: 972 548167755
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information and Cautionary Statements
This press release contains certain statements regarding SuperBuzz Inc. that constitute forward-looking information under applicable securities laws. These statements reflect management's current beliefs and are based on information currently available to management.
Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. These risks and uncertainties include, but are not limited to, risks relating to the Company's: (a) financial condition, including lack of significant revenues to date and reliance on equity and other financing; (b) business, including its early stage of development, government regulation, market acceptance for its products, rapid technological change and dependence on key personnel; (c) intellectual property including the ability of the Company to protect its intellectual property and dependence on its strategic partners; and (d) capital structure, including its lack of dividends on its Common Shares, volatility of the market price of its Common Shares and public company costs.
Further information about these and other risks and uncertainties can be found in the disclosure documents filed by the Company with applicable securities regulatory authorities, available at www.sedarplus.ca. The Company cautions that the foregoing list of factors that may affect future results is not exhaustive.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258290
SOURCE: SuperBuzz Inc.
