- Spetz Inc. (CSE:SPTZ)(OTC:DBKSF) retracts May 14th news release regarding a Sonic Labs partnership due to lack of formal signed agreements.
- Current partnership status is at a non-binding verbal agreement level, with no commercial considerations exchanged.
- Sonic Labs' participation in Spetz's private placement financing remains unconfirmed, with no guarantee of transaction closure.
Spetz Inc. (CSE:SPTZ)(OTC:DBKSF) has issued a retraction of its May 14th announcement about a strategic partnership with Sonic Labs. The retraction was made at the request of the Canadian Investment Regulatory Organization (CIRO) due to the absence of a formal agreement. While ongoing discussions and verbal commitments exist, nothing has been finalized in writing between the two parties.
The previously announced collaboration was a non-binding verbal agreement initiated in early May 2025, focused on increasing institutional awareness and infrastructure support for Sonic's ecosystem. However, no commercial considerations have been exchanged so far.
Sonic Labs has indicated its intention to participate in Spetz's current private placement financing. Nonetheless, this transaction remains incomplete with no definitive guarantee of closing. Spetz has committed to providing further updates regarding the status of this private placement.
