Carbiz.com Inc. -- Announces Filing Of Final Prospectus
18 July 2000
Carbiz.com Inc. -- Announces Filing Of Final Prospectus
TORONTO--July 18, 2000--Carbiz.com Inc. (CDNX:CZ) is pleased to announce that it has received receipts from the Alberta, British Columbia, and Ontario Securities Commissions for its prospectus dated July 14, 2000 qualifying 6,750,000 common shares and 3,375,000 common share purchase warrants (the Series B Warrants), issuable upon exercise of Series A special warrants sold to subscribers under a private placement closed on March 16, 2000.Canaccord Capital Corporation and Goepel McDermid Inc. acted as agents pursuant to the private placement of Series A special warrants. All special warrants will be deemed to have been exercised on July 21, 2000.
Carbiz.com is a Toronto-based company that provides e-commerce software and solutions to financial institutions and the retail automotive industry resulting in cost savings and efficiencies in the research, purchase and financing of car transactions. Its flagship product, Full Spectrum 2000, enables automobile dealers to arrange "on-the-spot" financing for consumers by connecting the dealers to credit bureaus and financial institutions via the Internet. The Carbiz.com vision is to evolve to an automotive financing portal providing consumers with one-stop shopping and financing for automobiles and auto services. Since February 2000, Carbiz.com has completed, or is in the process of completing, 6 U.S. acquisitions, which solidifies its leading position in automotive finance and insurance ('F&I') software in North America. Following the closing of these deals, Carbiz.com will have over 5600 automotive dealer customers located throughout North America.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release