Mr. Sandro Torrieri reports

CARBEEZA INC. APPLIES TO AMEND WARRANT TERMS

Carbeeza Inc. has applied to the TSX Venture Exchange to reprice and extend the expiry date of 10,153,000 common share purchase warrants, which were issued on June 29, 2021, in connection with a reverse takeover transaction with HIT Technologies Inc., whereby all outstanding warrants of HIT Technologies were exchanged on a 1:1 basis for warrants of the company.

The company seeks exchange approval to extend the warrant expiry date from June 29, 2023, to Dec. 29, 2023. The company also seeks approval to reduce the warrant exercise price from $1.00 to 20 cents, provided that at any time prior to the expiry date, the exercise period of the warrants will be reduced to 30 days if, for any 10 consecutive trading days on the stock exchange on which the common shares are then listed or such other principal stock exchange on which the common shares are trading (the premium trading days), the closing price of the listed shares exceeds the exercise price of the warrants by 25 per cent or more and in such case, the reduced exercise period of 30 days will begin no more than seven calendar days after the 10th premium trading day. All other terms of the warrants will remain the same. The extension and the reprice are subject to acceptance by the exchange and in certain circumstances by the warrant holders as detailed herein.

Certain of the warrants (4,025,000) are subject to a warrant indenture between the company and Olympia Trust Company. Pursuant to the warrant indenture, the corporation may amend the terms of the warrants with exchange approval. The reprice of the remaining warrants (6,128,000) not subject to the warrant indenture is subject to warrant holder approval which will be obtained prior to the expiry of the extension.

About 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.

We seek Safe Harbor.