VANCOUVER, Dec. 17, 2018 /CNW/ - Venzee Technologies Inc. (TSX-V:VENZ) ("Venzee" or the "Company") a platform for the distribution of consumer-relevant product information, is pleased to announce its intention to complete a non-brokered private placement (the "Non-Brokered Offering") of units of the Company ("Units") at a price of $0.075 per Unit for anticipated gross proceeds of approximately $1.5 million.
Each Unit is expected to be comprised of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share of the Company at an exercise price of $0.15 for a period of 24 months from the date of issuance of the Warrant, subject to a possible accelerated expiry in the event that the ten-day volume weighted average price of the Common Shares on the TSX Venture Exchange (the "TSXV"), equals or exceeds $0.25. Subject to customary closing conditions, the Non-Brokered Offering is expected to close on or about December 20, 2018.
However, there is no assurance that the Company will complete the Non-Brokered Private Placement upon the terms set out above, or at all.
To learn more about Venzee and its Channel Partner Program, visit https://venzee.com.
Venzee is a data transformation and distribution solution that eliminates inefficiencies in the digital supply chain by delivering consumer-ready product information to retailers. Powered by our core technology, Mesh, Venzee automates content exchange workflows that increase margins and accelerate revenue. Through a suite of products, we provide customized solutions for enterprises of all sizes, meeting each client's desired level of sophistication and automation.