June 22, 2018
Vancouver, BC – Venzee Technologies Inc. (TSX-V: VENZ) (the “Corporation” or “Venzee”), reports the results of its annual general meeting (the “Meeting”) of holders of common shares of the Company (the “Shareholders”) held on June 21, 2018. The total number of shares represented at the meeting was 19,048,293 shares, representing approximately 30.57% of the 62,300,746 issued and outstanding common shares of the Company.
The following four (4) director nominees, as set out in the management information circular of the Company dated May 2, 2018 (the “Information Circular”), were elected to serve as directors of the Company, to hold office until the next annual meeting or until their successors are otherwise elected or appointed. Votes received by proxy or exercised by persons entitled to vote at the Meeting were as follows:
1. M. Brian Budd – 98.15% For; 1.85% Withheld/Abstain
2. Daniel Jeffries – 99.99% For; 0.01% Withheld/Abstain
3. Michael Clarke – 99.99% For; 0.01% Withheld/Abstain
4. Marco Sylvestre – 99.99% For; 0.01% Withheld/Abstain
The Shareholders approved Davidson & Company LLP, Chartered Accountants by a vote of 100% For; 0% Withheld/Abstain, to serve as auditor of the Company, to hold office until the next annual meeting of Shareholders of the Company or until their successors are appointed and that the remuneration of the auditor be fixed by the Board of Directors of the Company.
In addition, following the Meeting, the Board approved the grant of stock options to an officer of the Company allowing him to acquire a total of 400,000 common shares at an exercise price of $0.50 per share, which is higher than the closing price of the common shares of Venzee on the TSX Venture Exchange on June 21, 2018, the last closing price before the grant. These options have been granted pursuant to the Company’s stock option plan and expire on June 21, 2023.
Further details on these matters are set forth in the Company’s materials accessible on the Company’s SEDAR profile at www.sedar.com.
Venzee is a data transformation platform that seamlessly integrates the world’s largest retailers with their suppliers, bringing products to market faster than ever before. Our API replaces manual data entry, resulting in a digital supply chain that increases margins and accelerates revenue. Venzee is leveraging their technology to partner with established supply chain leaders to deliver a real time solution to a global audience.
Venzee operates as a Software as a Services (SaaS), allowing flexibility for enterprise customers of all sizes wishing to improve their digital supply chain solutions. To learn more about Venzee, visit https://venzee.com/
On Behalf of the Board
Peter MacKay, CEO
Investor Relations, Kin Communications Inc.
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 execution of the Company’s growth strategy. 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, 2017, which is 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 Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.