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TORONTO, ON / ACCESSWIRE / December 27, 2024 / SPETZ INC. (the "Company" or "Spetz") (CSE:SPTZ)(OTC Pink:DBKSF) is pleased to announce that it is arranging a private placement offering (the "Offering") of up to 5,000,000 Common Shares, at a price of $0.10 per share, for gross proceeds of up to $500,000. In addition, Spetz is proposing to settle an aggregate of $445,645.89 in accounts payable to arm's length parties by way of the issuance of 4,456,458 shares for debt at an issue price of 0.10 per share (the "Shares for Debt Transactions"), and is negotiating the restructuring of certain outstanding debt, in the aggregate principal amount of $1,017,673, consisting primarily of convertible debentures that have become due, as further described below (the "New Debentures"). The Company has been working on the foregoing initiatives for the past several weeks and believes that they are in the best interests of the Company. The Offering Spetz intends to close the Offering shortly. The proceeds from the Offering will be used for general working capital purposes and to seek additional business opportunities that will create value. Spetz does not anticipate any insider participation in the Offering, or the creation of a new insider or control person as a result of the closing of the Offering. No finder's fees or other compensation will be paid in connection with the Offering. Shares for Debt Transactions The Company is proposing to settle an aggregate of $445,645.89 of current payables to arm's length parties by the proposed issuance of a total of 4,456,458 shares, at an issue price of $0.10 per share. Spetz does not anticipate the creation of a new insider or control person as a result of the closing of the Shares for Debt Transactions. The closing of the Shares for Debt Transactions is anticipated to close concurrently with the Offering. New Debentures Spetz is working to issue new convertible debentures in the aggregate principal amount of $1,017,673, replacing primarily the principal amount of outstanding convertible debentures that have matured and are currently due and payable by Spetz. The principal amount of the new debentures would be convertible into units of the Company ("Units"), at a price per Unit of $0.20, with each Unit comprised of one (1) Common Share and one-half (1/2) of a common share purchase warrant ("Warrant"). Each whole Warrant would be exercisable for one Common Share, at a price of $0.40 per share, for a period of 24 months following the issuance of the Warrants. The New Debentures would be outstanding for a minimum of 18 months following the closing in order to allow Spetz to execute its business. Otherwise, the New Debentures would be unsecured obligations of the Company and bear interest at a rate of 12% per annum. Assuming conversion of the entire principal amount of the New Debentures, the Company would issue an aggregate of up to 5,088,365 Common Shares and up to 2,544,182 Warrants. The Company believes that the Offering, the Shares for Debt Transactions and the New Debentures are in the best interests of the Company, and the foregoing have been approved by the independent directors of the Company as well due to the fact that the completion of the proposed transactions, taken as a whole, would result in the issuance of more than 100% of the currently issued and outstanding Common Shares of Spetz, on a fully-diluted basis. Accordingly, as a result of the potential significant dilution of the Common Shares, the Company intends to issue the securities contemplated in the Offering, the Shares for Debt Transactions and the New Debentures without securityholder approval in reliance on the exceptions outlined in Section 4.6(2)(b) of CSE Policy 4, as the Company is in serious financial difficulty. The Company has explored several avenues to secure additional funding in order to continue ongoing operations and to service its outstanding debt obligations. To date, the Company has been unable to secure any such funding due to challenging capital markets conditions for venture issuers and the Company's current debt obligations. The Company recently secured some interim relief (see press release dated November 29, 2024) wherein the board of directors waived their compensation and the current holders of the outstanding secured debentures agreed to extend the maturity date from October 31, 2024 to December 31, 2024. The Company currently does not have sufficient funding to continue as a going concern, and therefore, if the proposed Offering, the Shares for Debt Transactions and the New Debentures are not completed, and no alternative arrangements are secured, there is significant doubt about the Company's ability to continue as a going concern. The Company's independent directors have also determined that the Offering, the Shares for Debt Transactions and the New Debentures are in the best interests of the Company and reasonable based on the Company's current financial circumstances in order keep the Company solvent. The Company's independent directors have determined that neither (i) seeking shareholder approval for the Offering, the Shares for Debt Transactions and the New Debentures nor (ii) a rights offering to existing securityholders on the same terms as the Offering would be feasible to complete, based on the Company's immediate liquidity requirements. All securities issued pursuant to the Offering, the Shares for Debt Transactions and the New Debentures will be subject to a statutory hold period expiring four months and one day after the closing of the Offering, the Shares for Debt Transactions and the New Debentures, respectively. Completion of the Offering, the Shares for Debt Transactions and the New Debentures is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Canadian Securities Exchange. 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 Phone: 647-956-6033 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 on accesswire.com

Furthermore, China's continued efforts to deepen market reforms and open up its financial sector to foreign investment have further bolstered confidence in the country's long-term growth prospects. Initiatives such as the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect have facilitated greater access for foreign investors to China's capital markets, promoting greater liquidity and transparency.Farage: Badenoch must apologise for ‘crazy conspiracy theory’ on Reform numbers

Companies must also uphold ethical standards and prioritize honesty and integrity in their business practices. Short-term gains achieved through deception or infringement can have long-lasting repercussions on a company's reputation and legal standing. By fostering a culture of compliance and ethical conduct, businesses can build trust with consumers and contribute to a sustainable and responsible industry environment.Trump taps Rollins as agriculture chief, completing proposed slate of Cabinet secretaries

There are many good reasons to bring about reforms in zoning, but reducing the cost of housing is certainly not the best one. There are other far more effective strategies to make housing more affordable. In the current housing crisis, zoning is often singled out as a major obstacle to building affordable housing. Restrictive urban planning regulations are said to limit the supply of new housing and drive up prices and rents in the process. There is some truth to this criticism . A change in practices is necessary. But the question of zoning must be placed in its historical and political-economic context and be approached with care. The potential and problems of zoning Research into the history and evolution of zoning – to which I have contributed since my doctoral studies and as a full professor at the Université de Montréal’s School of Urban Planning and Landscape Architecture – clearly shows that in North America , zoning was used from the outset to protect middle- and upper-class neighbourhoods, and keep poor and racial and ethnic minority households out of them. Zoning regulations were adopted with the active support of real estate developers, or even at their request, because they protected property values. Yet zoning actually serves a variety of functions. Adopted under the police power, which allows the state to impose constraints without compensation if they promote the health, safety and well-being of the population, zoning can be used to achieve a variety of goals . In addition to protecting the financial and social capital of property owners, it can keep sources of nuisance and danger away from residential neighbourhoods, help in planning public infrastructure according to the needs of the various zones to be urbanized, shape living environments where every dwelling has good access to light and air, and create greater visual harmony in the city. Starting in the 1960s, other issues were then added to these: protection of cultural and natural heritage, protection of agricultural land and, in a historical reversal against exclusionary zoning , the inclusion of affordable housing and public facilities in private development projects. This article is part of our series, ‘Our cities from the past to the future.’ Urban life is going through many transformations, each with cultural, economic, social and political implications. To shed light on these diverse issues, La Conversation Canada and The Conversation Canada are inviting researchers to discuss the current state of our cities. The rigidity of North America Zoning presents a double problem. As Sonia Hirt, professor of landscape architecture and urban planning at the University of Georgia, has shown in her book “Zoned in the USA,” unlike European countries, the United States and Canada have used zoning in a very rigid way, strongly separating the various uses and forms of dwellings. This practice has had a particularly profound effect on the construction of North American suburbs and their monofunctional landscapes. In addition, our zoning attributes significant power to individuals and associations who want to defend the local status quo. So it is prized not only by property owners, whose investments it protects, but also by defenders of local democracy, whose input can become a de facto veto. Although zoning is meant to serve the public interest, it makes rational planning of urban and regional development more difficult by giving a central place to local conflicts over individual projects . A reform that does little to reduce costs Faced with this double problem, many, including the Canadian government, are calling for zoning reform, both in content and in process . I have no doubt that some changes are necessary. At the very least, zoning reform should be carried out to serve the following purposes: simplify regulations and speed up permit issuance; allow the construction of secondary units or duplexes in zones currently reserved for single-family homes; require higher densities in any corridor served by public transit; reduce parking space requirements; promote mixed-use development; promote the creation of quality public space; prevent small groups of citizens from blocking projects that serve the public interest. Changes in this direction are already underway in many municipalities. They need to be multiplied and generalized. Zoning reform: not a cure all However, I do not think zoning reform is the best way to bring down the cost of housing, for four reasons. Firstly, in large cities, there is generally great development potential that is poorly utilized in residential, commercial and industrial areas where zoning changes won’t create much controversy. These areas, which are already served by public infrastructure, as well as federal, provincial or municipal public lands , should be given priority for redevelopment. Secondly, the main change hoped for – the increase in project density – does not necessarily bring prices down . Aiming for affordability generally means building at good densities, but with average building heights. Thirdly, the rise in housing prices is due to many reasons other than inadequate zoning regulations. These include the financialization of the housing sector by major economic players , as well as rapidly rising construction costs and the lack of productivity gains in a construction sector that is still dominated by traditional, on-site production . These trends need to be countered by supporting the community sector and its not-for-profit players, and by supporting technological innovation in building materials, techniques and processes. Finally, zoning reform will do nothing to change the fact that today’s standard housing is simply too expensive for part of the population, and that the poorest households cannot find decent housing without state assistance, as I explained in a previous article. Read more: Choices made nearly a century ago explain today's housing crisis A multifactoral crisis There are many legitimate reasons to criticize our regulatory practices in urban development. This criticism is already dated; it goes back to the 60s (e.g. under the impetus of Jane Jacobs ). However, it is wrong to think that zoning reform is the main solution to the current housing crisis. This crisis has multiple causes and will only be resolved by using a variety of strategies. Simplifying and streamlining regulations is one of these, but much better financing of the community sector is another.

Trump Selects Brooke Rollins to Serve as the Secretary of AgricultureThese Predatory Marketing Tactics Could Be Your Company's Biggest Threat

The attempted assassination of the CEO of United Health serves as a stark reminder of the dangers faced by top executives in the healthcare industry. As the nation grapples with the aftermath of this tragic event, it is imperative that steps are taken to ensure the safety and security of all individuals in leadership positions, so that such a heinous act may never occur again.Dillard’s, Inc. Announces Special Dividend of $25.00 Per Share and Quarterly Cash Dividend of $0.25 Per Share

One of the most intriguing aspects of this young talent's story is his decision to snub offers from other top clubs, including Arsenal and Chelsea, in favor of Manchester United. While the reasons behind his choice remain undisclosed, it is clear that he sees the Red Devils as the best platform to further his career and reach his full potential. The lure of playing for a club with such a rich history and tradition, as well as a track record of nurturing young talents, was undoubtedly a key factor in his decision.

As a leading technology company in the field of graphics processing units (GPUs) and artificial intelligence (AI) solutions, Nvidia plays a critical role in shaping the future of the tech industry. With its innovative products and cutting-edge technologies, Nvidia has established itself as a prominent player in the global market, driving advancements in AI, data analytics, and gaming.In the fast-paced world of financial markets, innovative strategies often play a crucial role in boosting investor confidence and driving up stock prices. Recently, one company has taken the market by storm with a groundbreaking promotion that has captured the attention of both existing and potential shareholders. By offering a unique incentive of "buy 1 share, get 1 year of free mobile data," this company has witnessed an unprecedented surge in its stock price, setting a record for the biggest increase in a span of three months. The combination of shareholder benefits and clever marketing tactics has proven to be a winning formula that has not only rewarded investors but has also solidified the company's position as a market leader.Two charged in connection with Iran-backed drone strike that killed 3 US troops in the Middle East

In the world of agriculture, the unexpected can often lead to groundbreaking transformations. Recently, a metaphorical "lifesaving straw" has emerged in the form of a new technology or innovation that has the potential to revolutionize the corn industry. The question on everyone's mind now is whether corn, a staple crop with deep historical roots, is poised for a significant change. This potential shift is being accompanied by a subtle but noticeable change in market sentiment, as players in the industry begin to consider the implications of this new development.Starmer to visit troops serving on Russian border in push for Ukraine support