StageAcquired | Acquired
Venzee lets suppliers host their product data and media, making it available to their retailers via multiple channels that improve current workflow. Venzee's API provides access to that data, enabling developers to automate the e-commerce supply chain through the creation of apps and services.
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Expert Collections containing Venzee
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Venzee is included in 1 Expert Collection, including Supply Chain & Logistics Tech.
Supply Chain & Logistics Tech
Companies offering technology-driven solutions that serve the supply chain & logistics space (e.g. shipping, inventory mgmt, last mile, trucking).
Latest Venzee News
Oct 14, 2022
News provided by Share this article Share this article CHICAGO, Oct. 14, 2022 /PRNewswire/ - Venzee Technologies Inc. (TSXV: VENZ) (OTCQB: VENZF ) ("Venzee'' or the "Company"), the artificial intelligence platform for product data, is pleased to update shareholders on the closing of its non-brokered private placement as previously announced on June 23, 2022, July 23, 2022, July 28, 2022 and August 30, 2022. The principal sum of Debentures issued in all tranche closings totals CAD $275,000. In connection with the Debenture Offering, the Company paid finder's fee to certain registered brokerage firms, comprised of cash payment of $18,000 and the issuance of 360,000 finders' warrants upon the same terms and conditions as the Warrants. Venzee CEO John Abrams said, "We deeply appreciate continued support from our investors. Our recent progress validates for clients and investors the enormous potential of Venzee to eliminate supply chain inefficiency with our modern Artificial Intelligence platform." The Debentures have a maturity date of three (3) years from the date of issuance and shall bear interest at a rate of 5% per annum, payable every six (6) months. The principal sum of the Debentures, or any portion thereof, are convertible at the option of the holder, anytime after six (6) months, into debenture units (each, a "Debenture Unit") at CAD $0.05 per Debenture Unit for the first year. In subsequent years, the Debentures are convertible at the greater of $0.10 or Market Price. Each Debenture Unit consists of one common share (a "Share") and one common share purchase warrant (a "Warrant") with each Warrant exercisable at CAD $0.08 for 36 months from the date of issuance. The Warrants will also be subject to an acceleration clause whereby, in the event the volume weighted average trading price of the Company's shares trading on the TSX Venture Exchange (the "Exchange"), or any other stock exchange on which the Company's Shares are then listed, is equal to or greater than $0.25 for a period of 30 consecutive trading days, the Company will have the right, but not the obligation, to accelerate the expiry date of the Warrants by giving written notice to the holders that the Warrants will expire on a date that is not less than 30 days from the date of notice. The Debentures, Debenture Units, Warrants and any Common Shares resulting from the conversion of the Debentures or the exercise of Debenture Warrants will be subject to a hold period of four months and one day after the date of issuance thereof. The Company will use the proceeds of the Debenture Offering for general working purposes. On August 30, 2022, the Company announced a grant of 7,536,430 performance share units under the Company's Omnibus LTIP Plan. The Board of Directors of the Company subsequently determined this grant does not serve the best interests of employees and management of the Company at this time. About Venzee Technologies, Inc. Venzee (TSXV: VENZ) (OTCQB: VENZF ) is the leading artificial intelligence platform for product data used by global brands to speed time to market and create competitive supply chain advantages. Venzee's intelligent platform automates inefficient last-mile retail processes with a frictionless, machine-driven solution for sending and receiving product data. Venzee believes intelligent supply chain functionality is inevitable and will significantly benefit growers, makers, brands, sellers, regulators, and consumers. Venzee is building the foundation for a future where seamless, accurate, automated data flow simplifies processes, removes friction, and creates value for all those that rely on the myriad of data and information surrounding any product, anywhere. Venzee unlocks shareholder value by carrying out its mission to create intelligent technology that removes friction from the global supply chain. Its Mesh Connector™ product disrupts and displaces inefficient manual processes in favor of integrated, machine-driven solutions. To learn more about the Venzee platform, visit venzee.com Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the terms of the Offering, the completion of the Offering and the expected use of the net proceeds received by the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; and regulatory risks. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's management's discussion and analysis for the year ended December 31, 2018, and the quarter ended August 29, 2019, which are available under the Company's SEDAR profile at www.sedar.com , and in other filings that the Company has made and may make with applicable securities authorities in the future. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws. Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. SOURCE Venzee Technologies Inc.
Venzee Frequently Asked Questions (FAQ)
Where is Venzee's headquarters?
Venzee's headquarters is located at 422 Richards Street, Vancouver.
What is Venzee's latest funding round?
Venzee's latest funding round is Acquired.
How much did Venzee raise?
Venzee raised a total of $2.98M.
Who are the investors of Venzee?
Investors of Venzee include Gold Finder Explorations.
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