01:08:34 EDT Mon 13 May 2024
Enter Symbol
or Name
USA
CA



Superbuzz Inc
Symbol SPZ
Shares Issued 35,922,454
Close 2023-11-20 C$ 0.015
Market Cap C$ 538,837
Recent Sedar Documents

Superbuzz arranges $600,000 financing

2023-11-20 11:46 ET - News Release

Mr. Liran Brenner reports

SUPERBUZZ ANNOUNCES PRIVATE PLACEMENT

Superbuzz Inc. has arranged a non-brokered private placement for gross proceeds of up to $600,000 through the issuance of up to 20 million units at a price of three cents per unit. The company anticipates that, upon completion of the offering, a new control person (as defined below), Yoel Yogev, will be created.

Each unit in the offering shall consist of one common share in the capital of the company and one warrant. Each warrant shall entitle the holder to acquire one common share for a period of 24 months from the closing date of the offering at an exercise price of five cents per common share.

The net proceeds of the offering will be used for general working capital purposes.

Closing of the offering is subject to the company obtaining all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada.

None of the securities issued in the offering will be registered under the United States Securities Act of 1933, as amended, and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such an offer, solicitation, or sale would be unlawful.

Policy 4.1 -- Private Placements of the TSX Venture Exchange corporate finance manual requires shareholder approval where a transaction creates a shareholder that holds or controls 20 per cent or more of an issuer's shares. The company anticipates that, upon completion of the offering, Mr. Yogev will be a new control person pursuant to Policy 4.1. To fulfill the requirements of Policy 4.1, the company intends to seek written approval of shareholders holding or controlling more than 50 per cent of its common shares to approve the creation of the new control person.

Additionally, in connection with the offering, the company intends to appoint Mr. Yogev as the new control person to the board of directors of the company. It is also anticipated that Mr. Yogev will be appointed as chairman.

The company announced a private placement on Aug. 30, 2023. This private placement will no longer be proceeding.

About Superbuzz Inc.

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.

We seek Safe Harbor.

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