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Venzee Technologies Inc. (TSXV: VENZ) has entered into a software right-of-use agreement with Digital Commerce Payments Inc. for CDN$4,250,000. This strategic partnership will enhance Venzee's e-commerce software offerings by acquiring the DCP Software, expanding market capabilities, improving management functionality, and providing AI-enabled product description recommendations.
The integration of the DCP Software is expected to automate the connection of retail channels within customer ERP systems, enable digital shelf capability, and offer multi-lingual and order information return features. The Purchase Price will be satisfied in Shares at CDN$0.22 per Share, resulting in the issuance of 19,318,182 Shares. DCP and its Joint Actors are expected to hold approximately 41.62% of the issued and outstanding Shares on a partially diluted basis following the completion of the Transaction.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) announced that it will release its Q1 2022 financial results on May 30, 2022, followed by a conference call on May 31, 2022. CEO John Sexton Abrams stated they adjusted their release schedule to support market activity. The conference will be available via live audio webcast starting at 10:00 AM CST. Venzee continues to enhance its AI platform for product data, streamlining syndication processes for brands, with over 500 retail Mesh Connectors™ in use.
Venzee Technologies Inc. (TSXV: VENZ, OTCBQ: VENZF) will release its first quarter 2022 financial results after market close on May 26, 2022. A conference call to discuss these results is scheduled for May 27, 2022, at 9:30 AM EST. This call will feature CEO John Sexton Abrams and CFO Darren Battersby, followed by a Q&A session. Venzee has over 500 retail Mesh Connectors™ available, enhancing data syndication processes for brands globally, positioning the company as a vital player in AI-driven supply chain solutions.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) announced the closing of a $405,200 CAD non-brokered private placement, issuing 5,065,000 units. The company plans to initiate a new non-brokered private placement at $0.05 per unit, aiming for gross proceeds of $1.0M CAD. The net proceeds will support working capital and advance the company’s business model. The first tranche is expected to close by May 31, 2022, pending TSXV approval. CEO John Abrams noted necessary adjustments to pricing due to current market conditions.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) reported its financial results for the fourth quarter and full year ending December 31, 2021. Revenues for FY2021 totaled $67,519, a significant increase of 91% compared to $35,336 in 2020. The fourth quarter revenue reached $28,994, up from $16,230 in Q3 2021. However, net losses grew to $3,606,109 in FY2021 from $1,762,727 in FY2020. The company continues to enhance its platform and expand partnerships, expecting ongoing revenue growth.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) announced a significant expansion of its Mesh Connectors™ system after a brand requested to increase its active connections from 5 to 19. This decision follows the brand's successful experience with the platform, which streamlined its product data syndication to multiple global retail channels. The enhanced automation provided by Venzee's technology reduces operational time by 90% compared to traditional methods, positioning Venzee as a critical player in optimizing digital product data for modern commerce.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) will announce its 2021 fourth quarter and full year financial results on May 2, 2022, after market close. A conference call is scheduled for May 3, 2022, at 8:30 AM EST to discuss these results, featuring CEO John Sexton Abrams and CFO Darren Battersby. Venzee offers a leading AI platform for product data, streamlining supply chain processes. With over 500 retail Mesh Connectors™ operational, Venzee enhances its clients' efficiency in data management.
On April 6, 2022, Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) announced the closure of the first tranche of a private placement, raising gross proceeds of $405,200 through the issuance of 5,065,000 units at $0.08 per unit. Each unit consists of one common share and one common share purchase warrant, exercisable at $0.12 for up to 36 months. The company expressed appreciation for strong support from Canadian investors, aiming to enhance retail supply chain processes. Finder's fees of $32,416 and 405,200 warrants were also approved.
Venzee Technologies Inc. (TSX-V: VENZ, OTCQB: VENZF) has announced a non-brokered private placement of units for $0.08 each, aiming to raise up to $1.2 million CDN. Each unit consists of a common share and a warrant exercisable at $0.12 for 36 months. Proceeds will support working capital and revenue-generating efforts. The Offering's first tranche is expected to close by March 31, 2022. Venzee also updated market expectations, predicting contracts will yield over $200,000 in monthly recurring revenue once finalized, anticipated in Q2 2022.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) has announced a significant enhancement to its AI platform, achieving a milestone of processing over 1 million product attributes. This improvement in data accuracy and speed aims to provide a competitive edge in product data syndication. The company emphasizes that its AI capabilities, shaped by extensive partnerships, enable a reduction of up to 90% in time spent on product data transfers compared to traditional methods. Venzee is currently in advanced contract negotiations with potential new partners to further increase its market presence.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) is enhancing product data syndication for the second-largest American hardware retailer using its AI-driven Mesh Connectors™. The platform allows brands to reduce data transfer time by up to 90%, ensuring accurate and timely product information delivery. Venzee has raised over $520,500 CAD from warrant exercises, boosting growth projections. They are in advanced negotiations with three potential clients for additional partnerships to exceed 2022 sales targets, although outcomes remain uncertain.
FAQ
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What agreement did Venzee Technologies Inc. enter into with Digital Commerce Payments Inc.?
What is the strategic significance of the partnership between Venzee Technologies Inc. and Digital Commerce Payments Inc.?
How will the integration of the DCP Software benefit Venzee Technologies Inc.?
How will the Purchase Price for the software agreement be satisfied?
What percentage of issued and outstanding Shares are expected to be held by DCP and its Joint Actors following the completion of the Transaction?
