American Marconi Wireless News - Spetz Retracts and Clarifies its News Release From May 14th

Spetz and Sonic Labs have engaged in ongoing discussions regarding potential areas of collaboration and have verbal commitments, nothing has been signed and there can be no guarantee the partnership will proceed. These discussions culminated in a verbal agreement in early May 2025 to work together on a non-binding basis to grow institutional awareness, participation, and infrastructure support for the Sonic ecosystem. No commercial consideration has been exchanged.

Sonic Labs has confirmed its intention to participate in Spetz's current private placement financing. The transaction has not yet closed. The Company will provide a further update on the status of the private placement. There is no guarantee that the private placement will close.

About Spetz Inc.
Spetz Inc. is a multinational technology company operating at the intersection of AI-driven marketplaces and blockchain infrastructure. The Company owns and operates the Spetz application, an AI-powered platform connecting consumers with service providers, as well as SonicStrategy, a leading blockchain staking and infrastructure business.

About Sonic Labs
Sonic Labs is the core development team behind the Sonic blockchain, a high-performance, EVM-compatible Layer 1 built for DeFi and real-world applications. With sub-second finality, low fees, and a rapidly growing ecosystem of developers and applications, Sonic is quickly establishing itself as one of the most scalable and accessible blockchains in the market. The team includes pioneers in DeFi and blockchain infrastructure, including Andre Cronje, and is supported by a global developer and investor community.

Company Contacts
Mitchell Demeter, Spetz Inc CEO
Email: [email protected]
Phone: +1-345-936-9555

Forward-Looking Statements

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

Certain information herein constitutes "forward-looking information" under Canadian securities laws, reflecting management's expectations regarding objectives, plans, strategies, future growth, results of operations, and business prospects of the Company. Words such as "plans," "expects," "intends," "anticipates," "believes," and similar expressions identify forward-looking statements, which are qualified by the inherent risks and uncertainties surrounding future expectations.

Forward-looking statements are based on a number of estimates and assumptions that, while considered reasonable by management, are subject to business, economic, and competitive uncertainties and contingencies. The Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected outcomes. Factors influencing these outcomes include economic conditions, regulatory developments, competition, capital availability, and business execution risks.

The forward-looking information contained in this release represents Spetz's expectations as of the date of this release and is subject to change. Spetz does not undertake any obligation to update forward-looking statements, except as required by law.

This press release does not constitute an offer to sell or solicit an offer to buy securities in any jurisdiction where such an offer, solicitation, or sale would be unlawful. None of the securities issued in connection with the acquisition will be registered under the United States Securities Act of 1933, and they may not be offered or sold in the United States absent registration or an applicable exemption.

We seek Safe Harbor.

SOURCE: Spetz Inc.

View the original press release on ACCESS Newswire

L.Harper--AMWN