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Spetz Extends and Upsizes Private Placement up to $10 Million Amid Strong Investor Demand

TORONTO, ON / ACCESS Newswire / May 12, 2025 / Spetz Inc. (the "Company" or "Spetz") (CSE:SPTZ)(OTC PINK:DBKSF) would like to announce that the Canadian Securities Exchange has granted an extension, until June 23, 2025, for the Company's current non-brokered private placement financing, which was originally announced on March 24, 2025. In response to strong investor demand, the Company is also pleased to announce that it is upsizing the offering to a maximum of $10 million. The Company anticipates the financing will close in the very near term.

"Investor demand has been very strong, and we're in the final stages of completing this raise," said Mitchell Demeter, CEO and Director of Spetz. "We're excited about the strategic capital coming in and what it will enable us to build moving forward."

The Company also confirms that all common shares of Spetz held directly or indirectly by CEO and Director Mitchell Demeter are subject to a three-year escrow agreement. Under the terms of this agreement, 10% of the escrowed shares will be released upon the filing of a Business Acquisition Report (BAR), with the remaining shares subject to a scheduled release over the following 36 months in accordance with applicable regulations.

Additionally, the Company is pleased to update shareholders that it intends to hold its Annual General Meeting of shareholders in early July. Additional details regarding the final record and meeting date, meeting format, location, and materials will be provided in the upcoming information circular to be prepared and filed in accordance with applicable securities laws.

The Company looks forward to engaging with shareholders and stakeholders as it continues to execute its long-term strategic vision.

About Spetz Inc.
Spetz Inc. is a multinational technology company operating at the intersection of AI-driven marketplaces and blockchain infrastructure. The Company owns and operates the Spetz application, an AI-powered platform connecting consumers with service providers, as well as Sonic Strategy, a blockchain staking and infrastructure company supporting the Sonic ecosystem.

Company Contacts
Investor Relations
Email: investors@spetz.app
Phone: 647-956-6033

Nofar Shigani, CFO
Email: nofar@spetz.app
Phone: +972 526238108

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

Certain information herein constitutes "forward-looking information" under Canadian securities laws, reflecting management's expectations regarding objectives, plans, strategies, future growth, results of operations, and business prospects of the Company. Words such as "plans," "expects," "intends," "anticipates," "believes," and similar expressions identify forward-looking statements, which are qualified by the inherent risks and uncertainties surrounding future expectations.

Forward-looking statements are based on a number of estimates and assumptions that, while considered reasonable by management, are subject to business, economic, and competitive uncertainties and contingencies. The Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected outcomes. Factors influencing these outcomes include economic conditions, regulatory developments, competition, capital availability, and business execution risks.

The forward-looking information contained in this release represents Spetz's expectations as of the date of this release and is subject to change. Spetz does not undertake any obligation to update forward-looking statements, except as required by law.

This press release does not constitute an offer to sell or solicit an offer to buy securities in any jurisdiction where such an offer, solicitation, or sale would be unlawful. None of the securities issued in connection with the acquisition will be registered under the United States Securities Act of 1933, and they may not be offered or sold in the United States absent registration or an applicable exemption.

We seek Safe Harbor.

SOURCE: Spetz Inc.



View the original press release on ACCESS Newswire

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