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CHICAGO, May 6, 2020 /CNW/ - Venzee Technologies Inc. (TSX-V:VENZ) ("Venzee" or the "Company") is pleased to report the Company has received more than 100 new requests for retail channels. Now with a total of 359 channel requests, the Company continues to satisfy this first wave of activation requests from leading brands and manufacturers using the Venzee distribution platform.
Brands driving additional retail connection requests - scheduled through Q4 2020 - include a major pharmaceutical manufacturer, two global hard lines manufacturers, and a Canadian wellness brand.
Brands, suppliers, and manufacturers connect to the Venzee platform through technically integrated partners. The Company has previously announced relationships with a total of 11 partners, three of which are operational.
John Abrams, CEO of Venzee, comments, "We are pleased to provide an update on our 2020 work orders. Building out these revenue-generating retail connections for our partners and clients not only validates our technology but provides us a path to profitability in line with our operational growth plans."
Peter Montross, EVP of Commercial Operations for Venzee added, "Retail supply chains are stressed today. Our partners and their manufacturer clients recognize the emphasis placed on online commerce and are taking steps to streamline and accelerate content syndication and rapidly expand to additional selling channels."
Corporate Update and Product Demonstration
The Company will be hosting a conference call on Friday, May 8, 2020 at 8:00 AM PDT (11:00 AM EDT), to give a corporate update and product demonstration to investors and shareholders. The webcast and call will be followed by a Q&A session.
Details of the Call:
Participant toll-free dial-in number: 1-833-513-0552
Audience URL: https://tinyurl.com/VENZ-0508
We believe intelligent supply chain functionality is inevitable and will significantly benefit growers, makers, brands, sellers, regulators, and consumers.
At Venzee, we're building the foundation for a future where seamless, accurate, automated data flow simplifies process, removes friction, and creates value for all those that rely on the myriad of data and information surrounding any product, anywhere.
Venzee's mission is to unlock shareholder value by creating intelligent technology that removes friction from the global supply chain. Our products disrupt and displace inefficient manual processes in favor of integrated, machine-driven solutions.
To learn more about Venzee, visit https://venzee.com/
On Behalf of the Board,
John Sexton Abrams
President and CEO
Venzee Technologies, Inc.
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.
SOURCE Venzee Technologies Inc.