February 10, 2022
Vancouver, BC – Venzee Technologies Inc. (TSX-V: VENZ | OTCQB: VENZF) (“Venzee” or the “Company“), the artificial intelligence (AI) platform for product data, is now helping brands accelerate data syndication to the second-largest American hardware retailer using AI-driven Mesh Connectors™.
Compared to legacy product data syndication solutions, Venzee has proven its AI platform enables brands to reduce the time spent on product data transfer by as much as 90%.
According to Venzee CEO John Abrams, “Consumer brands are often dependent on manual processes, low function databases, and other antiquated solutions that fail to keep pace with the speed of modern commerce.”
Continued Mr. Abrams, “Our announcement today is continued proof our advanced AI platform is key to helping brands quickly publish product information to their retailer partners and keep pace with growing demand for more accurate, reliable, and relevant consumer-focused product data.”
The Venzee platform helps customers unlock rapid and automatic content distribution capabilities that:
- Guarantee consistent and accurate product data delivery to retailers, allowing enhanced data governance, master data management abilities and content organization.
- Seamlessly transfer data to an unlimited number of retail channels, using AI to monitor changes and automatically update product content across e-commerce sites in real-time.
- Reduce time spent on data transfer by up to 90%, speeding products to market and helping your brand win on the digital shelf.
With more than 500 major retail Mesh Connectors™ instantly available to brands, Venzee has become an important tool in the simplification and automation of syndication processes for brands globally.
Venzee is pleased to announce the Company has received more than $520,500 CAD from the exercise of share purchase warrants since December 1, 2021. All warrants exercised have been $0.10 and $0.11 strike price.
According to Venzee Technologies COO, Peter Montross, “These warrant exercises assist Venzee to continue to exceed sales projections and meet 2022 objectives. We wish to thank our supportive shareholders who believe in Venzee’s disruptive platform and advantaged sales model as we grow toward becoming the dominant solution for product data delivery around the world.”
The Company has previously announced it is in advanced contract negotiations with three potential customers, that if secured, would result in the Company exceeding its 2022 Mesh Connector™ sales targets of 13,000 and associated revenue. There is no certainty that these partnerships will close.
About Venzee
Venzee (TSX-V: VENZ | OTCQB: VENZF) s 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 Venzee, visit https://venzee.com/
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For more information, contact:
Annie Dysart
Investor Relations Manager
Venzee Technologies, Inc.
ir@venzee.com
888-359-8110
Investor Relations
Kin Communications
Tel: 1-866-684-6730
venz@kincommunications.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.
