The executive management of Bebuzee, Inc. (OTC Pink: ENGA) announced today that the company intends to offer, subject to market conditions and other factors, up to $10 million of its common stock in a private placement made subject to the exemption from registration provided for by Rule 506(c) of the Securities Act of 1933, as amended (the "Offering").
"Raising this much needed capital in the proposed offering will allow Bebuzee to meet a number of its core operational objectives," stated Joseph Onyero, Chief Executive Officer of Bebuzee, Inc. "Competition in the social media space is intense and having the needed capital to fully offer and market our unique value proposition is essential," he continued.
Bebuzee intends to use the net proceeds from the Offering for general corporate purposes, including working capital, operating expenses, capital expenditures, and to pay for the further development of the company's social media platform.
This press release is not an offer to sell and is not soliciting an offer to buy any securities, nor will it constitute an offer, solicitation, or sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Bebuzee, Inc. (OTC Pink: ENGA)
Based in Miami, Florida, Bebuzee, Inc. offers a unique, proprietary video-sharing platform and streaming service that allows our members to watch a wide variety of content such as movies, series, documentaries and talk shows on any internet-connected device. Bebuzee's technology scans the world's news, features and information flow to give its dedicated readers the best of the Internet in one place. A one-stop platform for breaking news, interesting and important blogs, videos, and photos. Bebuzee offers an addictive resource for those millions of people without time to scavenge the Internet and other sources for news and information. Bebuzee's latest investor pitch deck may be found at: https://www.bebuzeegroup.com/brochure.
