Carbeeza Inc. Announces CEO Appointment

Rhea-AI Summary

Carbeeza Inc. (OTCQB:CRBAF) has appointed Kenneth W. Brizel as its new Chief Executive Officer, effective immediately. Brizel, with extensive executive leadership experience in technology companies including RCA/GE and Lucent Technologies, replaces interim CEO Mark Tommasi.

The company also announced the return of Joanna Hampton as Chief Financial Officer. As part of Brizel's employment agreement, he is eligible for an equity incentive of up to 25 million common shares, tied to performance milestones including product commercialization, profitability targets, and achieving consolidated net income of $0.05 per share.

Positive

• Appointment of experienced technology executive Kenneth Brizel as CEO with proven track record in scaling tech businesses
• Return of Joanna Hampton as CFO providing financial leadership continuity
• Performance-based equity incentive structure aligning management interests with shareholders

Negative

• Significant potential dilution from 25 million share equity incentive agreement
• Current products not yet commercialized or profitable as indicated by CEO's performance milestones

CALGARY, AB / ACCESS Newswire / July 25, 2025 / Carbeeza Inc. ("Carbeeza" or the "Company") (TSXV:AUTO)(OTCQB:CRBAF) is pleased to announce the appointment of Kenneth W. Brizel as Chief Executive Officer of the Company, effective immediately.

Mr. Brizel brings a wealth of executive leadership and capital markets experience to Carbeeza, with a demonstrated track record in scaling technology businesses and leading go-to-market strategies across emerging fintech sectors. As CEO, Mr. Brizel will lead Carbeeza's operational strategy, business development, investor relations, and regulatory compliance. Mr. Brizel has held senior executive positions with both public and private corporations, consistently driving the successful commercialization of advanced technology products. His extensive background includes leadership roles at prominent companies such as RCA/GE, Lucent Technologies, Oplink Communications, LightPath Technologies, ACAMP, ColdChase, Mostek, and Star Semiconductor.

Over the course of his career, Mr. Brizel's responsibilities have spanned strategy and business development, engineering, manufacturing, sales, and marketing-making him uniquely qualified to lead Carbeeza in a rapidly evolving market landscape.

"I am honored to join Carbeeza at such a pivotal time," said Mr. Brizel. "The company has a strong foundation, a talented team, and a compelling vision. I look forward to working closely with our stakeholders to accelerate growth, drive innovation, and create long-term value."

Leadership Transition

In conjunction with the CEO appointment, Carbeeza announces that Kenneth W. Brizel replaces Mark Tommasi, the current interim CEO. The Board of Directors extends its sincere thanks to Mark Tommasi for his dedicated efforts and valuable contributions in advancing the Company's objectives.

Additionally, Carbeeza is pleased to announce that Joanna Hampton has agreed to rejoin the Company in her role as Chief Financial Officer (CFO). Her return brings valuable continuity and financial leadership to the executive team as the Company enters its next phase of growth.

Equity Incentive Agreement

In connection with his appointment, the Company has entered into an employment agreement with Mr. Brizel that includes an equity incentive component of up to 25,000,000 common shares of the Company (the "Shares"), issuable in tranches upon the achievement of defined performance-based milestones. These milestones include, among other things: (i) commercialization of the Company's first and second products; (ii) achieving profitability for each of the first and second products; and (iii) achieving consolidated net income of $0.05 per share (undiluted), prior to any share consolidation.

The issuance of any Shares under the agreement is subject to: (i) TSX Venture Exchange ("TSXV") acceptance, (ii) disinterested shareholder approval, and (iii) compliance with TSXV Policy 4.4 - Security-Based Compensation. Once issued, such Shares will be subject to a four-month hold period under applicable Canadian securities laws.

The Board of Directors believes this compensation structure aligns the long-term interests of management and shareholders, and appropriately incentivizes performance milestones that are expected to materially enhance shareholder value.

About Carbeeza Inc.

Carbeeza is a Canadian-based software company whose platform is targeted to the automotive marketplace. It is the first application to harness the power of Artificial Intelligence to accurately predict the best financing scenario for consumers, all while keeping the consumer anonymous. Using state-of-the-art technology, Carbeeza brings the process of buying a car right to the phone, tailor-made for the consumer. Carbeeza is highly beneficial to both consumers and auto dealers.

ON BEHALF OF THE BOARD OF DIRECTORS OF CARBEEZA INC.

Ken Brizel, Chairman

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Ken Brizel
CEO
Carbeeza Inc.
kbrizel@gmail.com
Website: www.carbeeza.com

Notice Regarding Forward-Looking Information:

This news release contains forward-looking statements including but not limited to statements regarding the Company's business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

SOURCE: Carbeeza Inc.

View the original press release on ACCESS Newswire

FAQ

Who is the new CEO of Carbeeza (OTCQB:CRBAF)?

Kenneth W. Brizel has been appointed as the new CEO of Carbeeza, bringing extensive executive leadership experience from companies like RCA/GE and Lucent Technologies.

What is the equity incentive package for Carbeeza's new CEO?

The CEO is eligible for up to 25 million common shares, issued in tranches upon achieving specific milestones including product commercialization, profitability, and reaching $0.05 per share in consolidated net income.

Who did Kenneth Brizel replace as CEO of Carbeeza?

Brizel replaced Mark Tommasi, who was serving as the interim CEO of Carbeeza.

Who is the CFO of Carbeeza following the management changes?

Joanna Hampton has rejoined Carbeeza as Chief Financial Officer (CFO).

What are the key performance milestones for Carbeeza's new CEO?

The key milestones include commercialization of first and second products, achieving profitability for each product, and reaching consolidated net income of $0.05 per share.