Mr. Sandro Torrieri reports

CARBEEZA INC. ANNOUNCES CLOSING OF $1.25 MILLION PRIVATE PLACEMENT

Carbeeza Inc. has closed its previously announced non-brokered private placement. The company issued a total of 25 million units at a price of five cents per unit for gross proceeds of $1.25-million. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of the company at an exercise price of 15 cents for a period of 24 months from issuance.

All securities issued in connection with the offering are subject to a statutory hold period of four months and one day. The company intends to use the proceeds of the offering for working capital and general corporate purposes. No finders' fees were paid in connection with the sale of the units. The offering is subject to final acceptance by the TSX Venture Exchange.

Insiders of the company subscribed for 12 per cent of the offering. Participation by insiders of the company in the offering constitutes a related party transaction, as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The issuance of securities is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the insiders' participation in the offering, as determined in accordance with MI 61-101, shall not exceed 25 per cent of the company's market capitalization.

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.

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