Venzee Technologies Announces Amendment to Convertible Debt Financing

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CHICAGO, July 23, 2022 /CNW/ – Venzee Technologies Inc. (TSXV: VENZ) (OTCQB: VENZF) (“Venzee” or the “Company“), artificial intelligence (“AI“) product data platform, today announced changes to the terms of a non-brokered private placement of unsecured convertible debentures (“Debentures“) previously announced on June 23, 2022.

The amendment states that the conversion in the first year can take place at $0.05 per unit (one “Unity“), but for the second and third year it must be the higher of $0.10 or Market Price (as defined in TSXV policy). All other terms remain the same.

About Venzee Technologies, Inc.

Venzee (TSXV: VENZ) (OTCQB: VENZF) is the leading artificial intelligence platform for product data used by global brands to accelerate time to market and create competitive advantages in the supply chain. Venzee’s smart platform automates inefficient last-mile retail processes with a frictionless, machine-driven solution for sending and receiving product data.

Venzee believes that smart supply chain functionality is inevitable and will significantly benefit producers, manufacturers, brands, sellers, regulators and consumers. Venzee is laying the foundation for a future where transparent, accurate and automated data flow simplifies processes, eliminates friction and creates value for everyone who depends on the myriad of data and information surrounding any product. , anywhere.

Venzee unlocks shareholder value by fulfilling its mission to create smart technology that removes friction from the global supply chain. Its Mesh Connector™ product disrupts and replaces inefficient manual processes in favor of integrated machine-driven solutions.

To learn more about the Venzee platform, go to venzee.com

LinkedIn: linkedin.com/company/venzee-inc/
Podcast: https://www.rethinkingsupplychain.com/

Forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the terms of the Offer, the completion of the Offer and the intended 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 planned”, “budget”, “expects”, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or states that certain actions, events or results “may”, “could”, “would”, “could” or “will be taken”, “will occur” or “will be carried out”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information, including but not limited to: business, economic, competitive, geopolitical and social uncertainties; and regulatory risks. Additional information on these assumptions as well as on the risks and uncertainties can be found under the heading “Risk factors and uncertainties” in the Company’s management report for the financial year ended. December 31, 2018and the quarter ended August 29, 2019which are available under the Company’s SEDAR profile at www.sedar.comand in other filings the Company has made and may make in the future with applicable securities authorities.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or expected. 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 press 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 the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Venzee Technologies Inc.

For further information: Peter Montross, Chief Operating Officer, Venzee Technologies, Inc.; Annie Dysart, Director of Marketing, Venzee Technologies, Inc., [email protected]888-359-8110


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