Mr. Mark Tommasi reports

CARBEEZA ANNOUNCES SETTLEMENT AGREEMENT

Further to Carbeeza Inc.'s news release of June 21, 2024, the company has entered into a settlement and release agreement 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 $1.7-million, inclusive of applicable taxes, payable in monthly instalments 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.

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.