Mr. Peter Mackay reports
VENZEE REVIEWING TOKEN-BASED CAPITAL POSSIBILITIES
Venzee Technologies Inc. has begun discussions with experienced financial and technology firms to design and distribute blockchain-based tokens in compliance with applicable Canadian securities laws. Management of the company is exploring the possibility of completing a token offering to complement the development of its solutions.
The company is not conducting an offering of tokens at the moment, and if it decides to do so after considering its various alternatives, it will determine and disclose the terms of any such offering at the appropriate time. Any tokens offered by the company may be a distribution of securities under applicable Canadian securities laws, in which case the distribution of any such token would require a prospectus or an exemption from the prospectus requirement. Any issuance of tokens would also be subject to the approval of the TSX Venture Exchange. Venzee has not applied to the TSX-V for conditional acceptance of any sale of tokens. There are no assurances that an offering of tokens will be successful if it is pursued and there are no assurances that secondary market trading of the token will be permitted.
Venzee provides high value customized SaaS (software-as-a-service) solutions to mid-market and Tier 1 enterprise clients around the world. Additionally, it accommodates the budgets of up-and-coming retailers hosted on platforms like Shopify. Venzee's platform transforms product information from suppliers and manufacturers into the requirements of retailers, a labor intensive and costly process that the retail industry still performs using spreadsheets.
As part of its growth strategies, Venzee seeks to grow its customer base, expand sales within its customer base and leverage its technology to offer new solutions, including Mesh, the company's middleware solution that enables businesses to easily connect everyday apps and enterprise solutions with blockchain networks.
About Venzee Technologies
Venzee is a software-as-a-service company that launched in 2014 to help e-commerce vendors and retailers easily share product information in a $23-trillion (U.S.) retail industry (source: Statista). The company graduated from 500 Startups, a notable start-up accelerator program, and is already powering some of the biggest brands in the world.
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