Welcome to our dedicated page for Venzee Technolog news (Ticker: VENZF), a resource for investors and traders seeking the latest updates and insights on Venzee Technolog stock.
Venzee Technolog Inc. (VENZF) delivers intelligent e-commerce integration and supply chain automation solutions for global enterprises. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, technological innovations, and strategic initiatives shaping the future of digital commerce infrastructure.
Access official press releases and curated analysis covering VENZF's product enhancements, partnership announcements, and financial performance. Our comprehensive resource eliminates the need to track multiple sources, offering centralized access to critical information for informed decision-making.
Key updates include advancements in Mesh Connector™ technology, digital shelf capability integrations, and ERP system optimizations. Monitor developments in artificial intelligence applications for inventory management and cross-platform data synchronization essential for modern retail operations.
Bookmark this page for streamlined access to Venzee's evolving market position and operational milestones. Regularly updated content ensures stakeholders maintain awareness of fundamental changes impacting the company's trajectory in enterprise software solutions.
Venzee Technologies Inc. (TSXV: VENZ) has closed its previously announced acquisition of exclusive rights to use e-commerce shelf capability software from Digital Commerce Payments Inc. (DCP) for CDN$4,250,000. The purchase was satisfied through the issuance of 19,318,182 common shares at CDN$0.22 per share. The transaction, approved by shareholders, resulted in DCP and its joint actors owning 44.3% of Venzee's outstanding shares.
Additionally, Venzee completed amendments to 690,000 outstanding stock options, reducing exercise prices to $0.35 per share, and amended $470,000 of convertible debentures, lowering the conversion price to $0.30 per unit and warrant exercise price to $0.48 per share. These changes were approved by disinterested shareholders and are subject to TSXV final acceptance.
Venzee Technologies (TSXV: VENZ) has entered into a software right-of-use agreement with Digital Commerce Payments (DCP), an existing consultant, to acquire exclusive usage rights to DCP's e-commerce shelf software for CDN$4,250,000. This will be paid either in cash or common shares upon the transaction's closing. The deal aims to enhance Venzee's product offerings, integrating DCP's software to expand functionality and efficiency. This integration is expected to broaden Venzee's market reach, offering automated retail channel connections and enhanced inventory management. The transaction involves issuing 19,318,182 shares at CDN$0.22 per share, subject to TSXV and shareholder approvals. Post-transaction, DCP and its affiliates are projected to own 41.62% of Venzee shares. Conditions for closing include regulatory and shareholder approvals. The transaction has been deemed fair from a financial standpoint by RwE Growth Partners.
On October 14, 2022, Venzee Technologies Inc. announced the successful closing of its non-brokered private placement, raising CAD $275,000 through a series of debenture issuances. The debentures have a three-year maturity and bear a 5% annual interest. Investors can convert debentures into units at $0.05 per unit in the first year. Additionally, the company paid $18,000 in finder’s fees and issued 360,000 warrants. The funds will support general working capital, reflecting ongoing investor confidence in Venzee’s AI-driven supply chain solutions.
Venzee Technologies Inc. announced the grant of 7,536,430 performance share units (PSUs) under its Long Term Incentive Plan. These PSUs will vest based on performance goals set by the Board of Directors. Each PSU grants the holder the right to one common share. Additionally, the company has secured $102,000 in funding through a convertible debenture, bringing the total to $275,000. Venzee's COO expressed gratitude towards the Board for this incentive, while the CEO highlighted the community's support for their AI-driven platform aimed at optimizing retail supply chains.
Venzee Technologies Inc. (OTCQB: VENZF) reported its Q2 2022 financial results, showing a revenue of $13,000 compared to $13,595 the previous year. The net loss decreased to $707,528 from $889,109. Cash usage decreased significantly from over $900,000 in Q1 to below $400,000 in Q2, reflecting cost-cutting measures initiated in March 2022. CEO John Abrams emphasized the strong performance of the company's AI-driven Mesh Connector™ product, which is expected to drive revenue growth moving forward.
Venzee Technologies Inc. has successfully closed the first tranche of its non-brokered private placement offering, issuing unsecured convertible debentures totaling CAD $175,000. The debentures will mature in three years and bear an interest rate of 5% per annum, with the option to convert into debenture units at CAD $0.05 in the first year. Proceeds will be used for general working purposes. CEO John Abrams expressed gratitude to investors for their support in Venzee's AI-driven supply chain optimization projects.
Venzee Technologies Inc. (TSXV: VENZ) (OTCQB: VENZF) announced amendments to its non-brokered private placement of unsecured convertible debentures. The conversion terms allow for $0.05 per unit within the first year, but for subsequent years, the conversion must be the greater of $0.10 or the market price. Venzee aims to enhance supply chain efficiencies through its AI platform for product data, automating retail processes and benefiting various stakeholders in the global supply chain.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) announced a proposed non-brokered private placement of unsecured convertible debentures aiming to raise CAD$600,000. The debentures will mature in three years, bearing a 5% interest rate, convertible into debenture units at CAD$0.05. Each unit includes one common share and one warrant, exercisable at CAD$0.08 for 36 months. Additionally, the company closed a previous unit private placement, raising CAD$171,000. Proceeds will support general working purposes, subject to regulatory approval.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) announced the successful closing of a tranche of its non-brokered private placement, issuing 3,420,000 units at $0.05 per unit, generating gross proceeds of $171,000. The company paid finders' fees totaling $13,600 and issued 272,000 warrants. Venzee continues to experience customer growth and platform validation, particularly with its Mesh Connector™ product, which supports cost savings for brands by syndicating to over 500 global retailers. The company plans to close additional tranches of financing, though no certainty is provided.
Venzee Technologies Inc. released its financial results for Q1 2022, reporting revenues of $10,375, a 19% increase from Q1 2021's $8,750. However, the company experienced a net loss of $1,008,696, up from a loss of $657,072 year-over-year. CEO John Abrams highlighted ongoing testing and integration for large contract clients, expressing expectations for future revenue generation. A conference call is scheduled for May 31, 2022, at 10:00 AM CST to discuss the results further.
