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CHICAGO, June 30, 2020 /CNW/ - Venzee Technologies Inc. (TSX-V:VENZ) ("Venzee" or the "Company") – at the request of the Investment Industry Regulatory Organization of Canada (IIROC) – wishes to confirm that the Company's management is unaware of any material change in the Company's operations that would account for the recent increase in market activity.
IIROC oversees all investment dealers and trading activity on debt and equity markets in Canada.
Venzee operates a SaaS platform focused on the "last mile" of supply chain - automating the flow of digital product information from brands and manufacturers to global retail.
Separately, following approval from its Board of Directors on June 17, 2020, the Company has announced it has granted incentive stock options to its directors, officers, consultants and employees for the right to purchase up to an aggregate of 9,850,000 common shares of the Company (the "Options"). The Options are exercisable at a price of $0.075 per share for a term of five (5) years. The terms of the Options granted are in accordance with the Company's Fixed Share Option Plan and vest over a period of two (2) years. The option grants are subject to shareholder and TSX Venture Exchange approval.
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.
Rethinking Supply Chain
Now available on Apple, Spotify, and other Podcast services, Venzee CEO, John Abrams, shares his expertise from years of work in the global supply chain - alongside other industry experts. On the show, we dive into all aspects of the supply chain. We discuss the history of the supply chain, how it is changing, and what makes for a resilient supply network in today's rapidly changing world.
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.