Venzee Activates Major Retail Channels for Youth Apparel Brand

Rhea-AI Summary

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.

Positive

• New revenue-generating contract with a major children's bag brand.
• Initial activation through 1,500 retail locations in North America.
• Plans to activate additional Mesh Connectors™ over the next 12 months.
• Platform efficiency is 80% better than competing solutions, reducing labor costs and increasing sales margins.

Negative

• None.

Mesh Connectors™ Expand Sales Channels for Brand Looking to Grow Rapidly Amid Supply Chain Challenges

CHICAGO, Oct. 26, 2021 /PRNewswire/ - Venzee Technologies Inc. (TSXV: VENZ) (OTCQB: VENZF) ("Venzee'' or the "Company"), the artificial intelligence (AI) platform for product data, is pleased to announce a new revenue-generating contract with a California-based children's bag and accessories brand.

Initially, the brand purchased a single Mesh Connector™ to a retailer on the Venzee platform. The retailer serves the home goods and apparel sector through some 1,500 store locations in the United States, Canada, Mexico, and Puerto Rico.

Following their initial purchase, the brand engaged Venzee sales and contracted for additional retail channels in the home goods retail sector. Under the agreement, the client plans to activate a number of Venzee's Mesh Connectors™ over the next 12 months.

According to Chad Kaczmarek, Senior Director of Integrations at Venzee, "Our easy to use Mesh Connectors™ allowed this brand to sidestep the complexities of getting their products active and sold through a major retail chain. Because our AI-based platform is 80% more efficient than alternatives, this brand saves time, labor, and improves sales margin by using Venzee."

With more than 400 retail Mesh Connectors™ instantly available to brands, Venzee has become a revolutionary tool in the simplification and automation of syndication processes for consumer brands globally.

John Abrams, CEO of Venzee said, "We have begun to recognize a trend where brands start using a single Mesh Connector™ and quickly purchase more channels as they recognize the labor benefit our platform provides."

Mr. Abrams continued, "Brands and retailers today face unprecedented supply chain challenges. Our hyper-efficient Mesh Connectors™ give brands an important tool they need to efficiently manage their product data operations at scale and improve sales performance globally."

About Venzee Technologies, Inc.

Venzee (TSXV: VENZ) (OTCQB: VENZF) is 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 the Venzee platform, visit venzee.com

Twitter: @usevenzee
LinkedIn: https://www.linkedin.com/company/venzee-inc/
Podcast: https://www.venzee.com/resources/podcast

On Behalf of the Board,

Peter Montross
Chief Operating Officer

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.

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SOURCE Venzee Technologies Inc.

FAQ

What is Venzee Technologies Inc.'s stock symbol?

Venzee Technologies Inc. is traded under the stock symbol VENZF on the OTCQB.

What new contract did Venzee recently announce?

Venzee announced a new contract with a California-based children's bag brand to expand retail channels using its Mesh Connectors™.

How many retail locations does the children's bag brand's retailer have?

The retailer has approximately 1,500 store locations in the U.S., Canada, Mexico, and Puerto Rico.

What advantages does Venzee's platform provide?

Venzee's platform increases efficiency by 80% compared to alternatives, saving time and labor while improving sales margins.

How does Venzee address supply chain challenges?

Venzee's Mesh Connectors™ help brands manage product data operations efficiently, addressing supply chain challenges.