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  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Spetz Closes Previously Announced $500,000 Offering, Shares for Debt Settlements and Restructuring of Convertible Debentures

TORONTO, ON / ACCESS Newswire / January 20, 2025 / SPETZ INC. (the " Company " or " Spetz ") ( CSE:SPTZ)(OTC PINK:DBKSF ) is pleased to announce that it has closed its previously announced private placement offering of 5,000,000 common shares of the Company for gross proceeds of $500,000 (the " Offering "), its shares for debt transactions settling $445,645.89 in accounts payable to arm's length parties by way of the issuance of 4,456,457 common shares of the Company (the " Shares for Debt Transactions "), and its restructuring of an aggregate principal amount of $1,015,914 of debt through the issuance of new convertible debentures (the " New Debentures "), the whole as further described in the news release of the Company released on December 27, 2024.

The proceeds from the Offering will be used for general working capital purposes and to seek additional business opportunities that will create value.

All of the foregoing securities are subject to a hold period of four months and day expiring on May 18, 2025. No finder's fees or other compensation was paid in connection with the issuance of the foregoing securities.

None of the securities issued in the Offering, the Shares for Debt Transactions or the New Debentures will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), 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 offer, solicitation, or sale would be unlawful.

About Spetz Inc.

Spetz Inc. is a multinational technology company that operates Spetz, a global online, AI-powered marketplace platform that dynamically connects consumers to nearby top-rated service providers in around 30 seconds. Spetz is available in the USA, United Kingdom, Australia, and Israel. The Spetz vision is to reinvent how people around the world connect to services in their moment of need. Connecting them immediately with the top-matched service provider for any need, anytime, anywhere.

Spetz Website: www.spetz.app

Spetz Investor information: https://investor.spetz.app/

Company Contacts:

Investor Relations

Email: Investors@spetz.app

Nofar Shigani,CFO

Email: nofar@spetz.app

Phone: 647-956-6033

Phone: +972 526238108

NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATION SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Note Regarding Forward-looking Statements

Certain information herein constitutes "forward-looking information" as defined under Canadian securities laws, which reflect management's expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the Company. The words "plans", "expects", "does not expect", "scheduled", "estimates", "intends", "anticipates", "does not anticipate", "projects", "believes", or variations of such words and phrases or statements to the effect that certain actions, events or results "may", "will", "could", "would", "might", "occur", "be achieved", or "continue" and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.

Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements.

SOURCE: Spetz Inc.



View the original press release on ACCESS Newswire

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