Carbiz Continues Expansion With Auto Credit Center in Downtown St. Petersburg.SARASOTA, Fla. -- 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. , Chief Executive Officer of Carbiz Inc. ("Carbiz" or the "Company") (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 that Carbiz, in continuing its Florida expansion announced in October, has opened a Carbiz Auto Credit Center in downtown St. Petersburg. The business, located at 2324 Central Ave., finances and sells automobiles at reasonable rates to people who otherwise might not qualify for a loan. "We're excited to begin serving the St. Petersburg community," said Norm Pigeon, manager of the Carbiz Auto Credit Center in St. Petersburg. "The success of our credit center business is based on a philosophy of treating customers with dignity and respect. We combine this customer-friendly approach with interest rates below the industry average, which encourages customer loyalty." Mr. Ritter rit·ter n. pl. ritter A knight. [German, from Middle High German riter, from Middle Dutch ridder, from r announced in October that the Company had closed financing to accelerate expansion in Florida, beginning in the Tampa Bay Tampa Bay, inlet of the Gulf of Mexico, 25 mi (40 km) long and 7 to 12 mi (11.3–19 km) wide, W Fla., separated from the Gulf by numerous small islands; it receives the Hillsborough River. St. area, as the Company seeks a listing on the U.S. Over-The-Counter Bulletin Board (OTCBB OTCBB See OTC Bulletin Board (OTCBB). ). Carbiz is currently publicly traded on the Canadian 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. ("CZ":TSX:V). Based in Sarasota, Florida and Toronto, Canada, 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. Carbiz's suite of business solutions includes dealer software products focused on the finance, sub-prime finance and "buy-here, pay-here" markets. The Company has 40 full-time employees and provides finance solutions, lead generation, Internet capability and training services. Carbiz supports more than 3,000 dealers with a recurring revenue model, in addition to individual product sales. The Company also provides a tax refund Tax refund Money back from the government when too much tax has been paid or withheld from a salary. service and refund anticipation loans at a facility in Clearwater that employs 90 people on a seasonal basis. The Company's expansion began in May 2004 with a credit center in Palmetto, FL. A third center is planned for the Tampa area in early 2005. Each credit center originates, funds, manages and collects loans for vehicles sold to customers. Mr. Ritter also announced that Carbiz has granted an aggregate 637,891 options to directors and officers of the Company. The options are exercisable into common shares of Carbiz upon payment of CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $0.20 per share and expire on Dec. 13, 2009. For more information about Carbiz and its services, visit the web site: www.carbiz.com. Forward-Looking Statements 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. 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. Carbiz assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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