Venzee Technologies Announces Convertible Debt Financing

CHICAGO, June 23, 2022 /CNW/ – Venzee Technologies Inc. (TSXV: VENZ) (OTCQB: VENZF) (“Venzee” or the “Company“), artificial intelligence (“AI“) product data platform, wishes to announce a proposed non-brokered private placement of unsecured convertible debentures (“Debentures“) to raise the gross proceeds of CA$600,000 (there “Debenture Offering“).

The Debenture Offering will involve a minimum investment of CA$25,000 and in multiples of CA$25,000. The debentures will have a maturity date of three (3) years from the date of issue and will bear interest at the rate of 5% per annum, payable every six (6) months. The principal amount of the Debentures, or any part thereof, is convertible at the option of the holder, at any time after six (6) months, into Debenture Units (each, a “Debenture unit“) at CA$0.05 per debenture unit. Each Debenture Unit will consist of one common share (a “To share“) and one common share purchase warrant (a “To guarantee“) with each Warrant exercisable at CA$0.08 for 36 months from the date of issue. The Warrants will also be subject to an acceleration clause whereby, in the event that the volume weighted average trading price of the Company’s shares on the TSX Venture Exchange (the “Swap“), or any other stock exchange on which the shares of the Company are then listed, is equal to or greater than $0.25 during a period of 30 consecutive trading days, the Company shall have the right, but not the obligation, to accelerate the expiry date of the Warrants by notifying the holders in writing that the Warrants will expire on a date which is not less than 30 days from the date of notification.

In connection with the offering of Debentures, the Company may pay a finder’s fee to certain registered brokerage firms, as permitted by the policies of the Exchange and in accordance with applicable securities laws. The Debentures, Debenture Units, Warrants and any Common Shares resulting from the conversion of the Debentures or the exercise of the Debenture Warrants will be subject to a hold period of four months and one day after their date of issue. .

The Company intends to use the proceeds of the Debenture Offering for general corporate purposes.

The Debenture Offering will be subject to customary closing conditions, including the approval of the Exchange, and there can be no assurance that the Company will complete the Debenture Offering on the terms set forth above, or at all.

Following press releases from the Société du May 6, 2022and June 9, 2022, the Company also announces that the previously announced unit private placement has been closed. The Company raised total proceeds of $171,000 and issued 3,420,000 units. Each unit consisted of one common share of the Company and one common share purchase warrant, each warrant exercisable for one common share at an exercise price of $0.10 for a period of 36 months. The Company paid finder’s fees of $13,600 and issued 272,000 warrants on the same terms and conditions as the shareholder warrants.

About Venzee Technologies, Inc.

Venzee (TSXV: VENZ) (OTCQB: VENZF) is the leading artificial intelligence platform for product data used by global brands to accelerate time to market and create competitive advantages in the supply chain. Venzee’s smart platform automates inefficient last-mile retail processes with a frictionless, machine-driven solution for sending and receiving product data.

Venzee believes that smart supply chain functionality is inevitable and will significantly benefit producers, manufacturers, brands, sellers, regulators and consumers. Venzee is laying the foundation for a future where transparent, accurate and automated data flow simplifies processes, eliminates friction and creates value for everyone who depends on the myriad of data and information surrounding any product. , anywhere.

Venzee unlocks shareholder value by fulfilling its mission to create smart technology that removes friction from the global supply chain. Its Mesh Connector™ product disrupts and replaces inefficient manual processes in favor of integrated machine-driven solutions.

To learn more about the Venzee platform, go to venzee.com

LinkedIn: linkedin.com/company/venzee-inc/
Podcast: https://www.rethinkingsupplychain.com/

Forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the terms of the Offer, the completion of the Offer and the intended 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 planned”, “budget”, “expects”, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or states that certain actions, events or results “may”, “could”, “would”, “could” or “will be taken”, “will occur” or “will be carried out”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information, including but not limited to: business, economic, competitive, geopolitical and social uncertainties; and regulatory risks. Additional information on these assumptions as well as on the risks and uncertainties can be found under the heading “Risk factors and uncertainties” in the Company’s management report for the financial year ended. December 31, 2018and the quarter ended August 29, 2019which are available under the Company’s SEDAR profile at www.sedar.comand in other filings the Company has made and may make in the future with applicable securities regulatory authorities.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or expected. 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 press 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 the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Venzee Technologies Inc.

For further information: Peter Montross, Chief Operating Officer, Venzee Technologies, Inc.; Annie Dysart, Director of Marketing, Venzee Technologies, Inc., [email protected]888-359-8110

Carol M. Barragan