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VANCOUVER, Nov. 7, 2019 /CNW/ - Venzee Technologies Inc. (TSX-V:VENZ) ("Venzee" or the "Company") has announced the completion of functional integration to 175 major retail destinations, growing revenue-generating integrations by 16% in under 30 days.
With the addition of these new content distribution channels, the Company is on track to achieve its goal of connecting to the 250 largest retailers around the world, as identified in Deloitte's annual retail ranking (Global Powers of Retailing 2019, Deloitte Touche Tohmatsu Limited).
John Abrams, President and CEO of Venzee said, "Our ability to quickly expand retail integrations reflects both the skill and dedication of our global team and the expansive and flexible capabilities of our intelligent platform."
The Company is also announcing today the consolidation of several operational positions into a new role focused on further accelerating integration with retail and partner systems. Chad Kaczmarek will fill the role of Senior Director of Integrations.
Mr. Kaczmarek states, "I'm extremely excited to join the Venzee team. One of the reasons I accepted the role was how impressed I am with the retail integration capabilities Venzee continues to demonstrate. I can't count the number of conversations I've had with brands and manufacturers who express frustration with having to manually provide content to many different systems. With Venzee, brands can easily syndicate, distribute and automate complete and accurate product information to all their channel partners."
According to Mr. Abrams, Mr. Kaczmarek was recruited specifically for his expertise delivering enterprise-class solutions for major manufacturers and retailers. His work history includes successful revenue growth and platform integration roles with Venzee competitors 1WorldSync (acquired by Battery Ventures) and Edgenet (acquired by Syndigo LLC).
In addition to these announcements, and further to the news release of September 19, 2019, the Company reports they continue to strengthen interest and gather documents to complete the previously announced financing. The Company has obtained an extension from the TSX Venture Exchange to close the unit financing on or prior to November 29, 2019 and the Company expects to close within the next few weeks. However, there is no assurance that the Company will complete the Offering upon the terms set out previously, or at all.
Venzee is an intelligent content distribution solution that eliminates inefficiencies in the digital supply chain by delivering consumer-ready product information to retailers via a peer-to-peer network. Powered by our core technology, Mesh, Venzee automates content exchange workflows that increase margins and accelerates 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.
Venzee operates as a Software as a Service (SaaS) platform, allowing flexibility for enterprise customers of all sizes wishing to improve their digital supply chain solutions. To learn more about Venzee, visit https://venzee.com/.
On Behalf of the Board,
John Abrams, President and CEO
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 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.
SOURCE Venzee Technologies Inc.