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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. (OTCQB: VENZF) has reported increased demand for its Mesh Connectors™, facilitating faster product information delivery during the global supply chain crisis. These connectors offer brands access to over 500 global retailers, simplifying retail data management. A client that began using the platform in Q4 2021 has seen notable operational improvements. Venzee is in advanced negotiations with three potential customers, which could exceed their 2022 sales target for Mesh Connectors™. The company emphasizes that its technology can boost efficiency and scalability for clients.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) has surpassed its annual target by exceeding 500 automated Mesh Connectors™ for retail channel inventory. Available to global brands, these connectors streamline product data delivery, enhancing speed to market and accuracy while reducing labor costs. In under 30 days, Venzee added over 100 channels, indicating strong demand for digital integration. CEO John Abrams noted this milestone correlates with improved monetization for clients, positioning Venzee for significant growth and competitive advantage in 2022 and beyond.
Venzee Technologies Inc. (TSXV: VENZ) (OTCQB: VENZF) reported strong performance, exceeding its ambitious 2021 goals of $195,000 in Monthly Recurring Revenue (MRR) and over 2,080 sold Mesh Connectors™. The company achieved notable revenue gains driven by the end of discount periods and new sales contracts. Senior Director of Sales Joel Carstedt expressed optimism about future growth, emphasizing the platform's role in automating product content delivery. Venzee aims to accelerate growth and reach significant revenue targets in 2022, enhancing its position in the digital retail supply chain.
Venzee Technologies Inc. (TSX-V:VENZ, OTCQB:VENZF) will present at the SNN Network Canada Virtual Event on December 8, 2021, at 12:30 PM EST. CEO John Abrams will lead the presentation and respond to investor inquiries. Interested parties can access the event via the provided webcast link. Venzee's platform streamlines product data syndication for brands globally, helping to automate supply chain processes. The company emphasizes the importance of intelligent technology in enhancing efficiency across the supply chain.
Venzee Technologies Inc (TSXV: VENZ) (OTCQB: VENZF) will present at the SNN Network Canada investor conference on December 8, 2021, at 12:30 PM EST. CEO John Abrams will lead the presentation and address investor questions. The company recently raised $402,030 CAD by exercising 3,973,000 warrants in November 2021. Additionally, it granted 7,900,000 stock options at an exercise price of $0.12 CAD. Venzee’s AI platform enhances product data automation in retail, supporting over 400 major retail connections.
Venzee Technologies Inc. (TSX-V:VENZ, OTCQB:VENZF) reported its Q3 2021 financial results, showing a revenue of $16,230 from SaaS-based Mesh Connector™ sales, up 19% from Q2. However, net losses widened to $792,221 for Q3, compared to $459,504 in Q3 2020. The company's sales pipeline grew by 43% with over 10,000 active opportunities. Despite zero client churn, operational costs increased due to expanded staffing and marketing efforts. Venzee is optimistic about future revenue, targeting $195,000 MRR by year-end. Two major contracts are in negotiation, potentially exceeding revenue goals for 2021 and 2022.
Venzee Technologies (TSX-V: VENZ, OTCQB: VENZF) announced a new contract with a major kitchen and bath furniture manufacturer, enhancing its presence in the retail market. The company's Mesh Connector™ technology was preferred for its rapid, reliable data management, addressing the complexities of over 50,000 products. Additionally, Venzee reported receiving over $260,000 CAD from warrant exercises and plans to release its Q3 financial results on November 22, 2021, followed by a conference call on November 23, 2021.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) announces a significant new contract with a California-based children's bag brand, expanding retail channels through its AI-driven Mesh Connectors™. The initial purchase includes activation of a connector for a retailer with 1,500 locations across the U.S., Canada, Mexico, and Puerto Rico. The brand plans to utilize additional connectors over the coming year, leveraging Venzee's platform which enhances efficiency by 80% over alternatives, ultimately improving sales margins amid ongoing supply chain challenges.
Venzee Technologies Inc. has secured a significant upfront revenue-based contract with a major digital product content provider. This agreement enhances Venzee's ability to distribute product data at scale, aiding brands in North America, the EU, and Asia-Pacific. CEO John Abrams highlighted the contract as validation of Venzee's AI technology meeting market demands. Additionally, the company is negotiating with two more content providers, potentially exceeding its 2022 sales target of 13,000 Mesh Connectors™. This development underscores Venzee's competitive edge in the evolving supply chain landscape.
Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) reported an 87% increase in product data submissions from consumer brands since July 2021. This growth is attributed to rising sales of its Mesh Connector™ technology, which streamlines data management between brands and retailers. The company emphasizes the value of its AI platform in reducing costs and accelerating market entry for clients. CEO John Abrams highlighted the 'Network Effect' akin to major platforms like Amazon, fostering further expansion in a digital supply chain landscape.
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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.?
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