Carbiz Closes Second Tranche Of Unit Offering.News Editors/Business Editors SARASOTA, Fla.--(BUSINESS WIRE)--May 5, 2004 Carl Ritter Carl Ritter (August 7, 1779 – September 28, 1859) was a German geographer. Along with Alexander von Humboldt, he is considered one of the founders of modern geography. From 1825 until his death, he occupied the first chair in geography at the University of Berlin. , Chairman and Chief Executive Officer of Carbiz Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CZ) is pleased to announce the completion of the second tranche Tranche One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics. tranche A class of bonds. of its previously announced non-brokered private placement for an aggregate 232,628 units of Carbiz at a price of $0.30 per unit for gross proceeds of Cdn $69,788. Each unit consists of one common share and one warrant, with each warrant exercisable into one common share until May 5, 2005 upon payment by the holder of $0.30 per common share. All of the securities will be subject to a 4-month hold period in accordance with applicable securities laws. Final closing is subject to regulatory and stock exchange approval. Carbiz anticipates the third closing of the private placement will occur, within the next month, on the same terms and conditions. In the first two tranches of the offering, an aggregate 1,396,001 units have been issued. In total, the maximum number of units issued pursuant to the offering will not exceed an aggregate 4,166,667 units. ABOUT CARBIZ INC. Based in Toronto and Sarasota, Florida Sarasota is a city located in Sarasota County on the central west coast of Florida, USA. Its official limits include Sarasota Bay and several barrier islands between the bay and the Gulf of Mexico. , Carbiz is a leading provider of Internet and software solutions to the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. . Carbiz's suite of business solutions include dealer software products focused on the finance, sub-prime finance, buy-here pay-here finance solutions, lead generation, Internet and training services. Carbiz has provided thousands of products to dealers in the U.S., Canada, and other countries and currently supports over 3000 dealers with a recurring revenue model plus individual product sales. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Carbiz Inc. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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