CHICAGO, Feb. 10, 2022 /CNW/ - Venzee Technologies Inc.
(TSXV: VENZ) (OTCQB: VENZF) ("Venzee'' or the
"Company"), the artificial intelligence (AI) platform for
product data, is now helping brands accelerate data syndication to
the second-largest American hardware retailer using AI-driven Mesh
Connectors™.
Compared to legacy product data syndication solutions, Venzee
has proven its AI platform enables brands to reduce the time spent
on product data transfer by as much as 90%.
According to Venzee CEO John
Abrams, "Consumer brands are often dependent on manual
processes, low function databases, and other antiquated solutions
that fail to keep pace with the speed of modern commerce."
Continued Mr. Abrams, "Our announcement today is continued proof
our advanced AI platform is key to helping brands quickly publish
product information to their retailer partners and keep pace with
growing demand for more accurate, reliable, and relevant
consumer-focused product data."
The Venzee platform helps customers unlock rapid and automatic
content distribution capabilities that:
- Guarantee consistent and accurate product data delivery to
retailers, allowing enhanced data governance, master data
management abilities and content organization.
- Seamlessly transfer data to an unlimited number of retail
channels, using AI to monitor changes and automatically update
product content across e-commerce sites in real-time.
- Reduce time spent on data transfer by up to 90%, speeding
products to market and helping your brand win on the digital
shelf.
With more than 500 major retail Mesh Connectors™ instantly
available to brands, Venzee has become an important tool in the
simplification and automation of syndication processes for brands
globally.
Venzee is pleased to announce the Company has received more than
$520,500 CAD from the exercise of
share purchase warrants since December 1,
2021. All warrants exercised have been $0.10 and $0.11
strike price.
According to Venzee Technologies COO, Peter Montross, "These warrant exercises assist
Venzee to continue to exceed sales projections and meet 2022
objectives. We wish to thank our supportive shareholders who
believe in Venzee's disruptive platform and advantaged sales model
as we grow toward becoming the dominant solution for product data
delivery around the world."
The Company has previously announced it is in advanced contract
negotiations with three potential customers, that if secured, would
result in the Company exceeding its 2022 Mesh Connector™ sales
targets of 13,000 and associated revenue. There is no certainty
that these partnerships will close.
About Venzee Technologies, Inc.
Venzee (TSXV: VENZ) (OTCQB: VENZF) is the leading artificial
intelligence platform for product data used by global brands to
speed time to market and create competitive supply chain
advantages. Venzee's intelligent platform automates inefficient
last-mile retail processes with a frictionless, machine-driven
solution for sending and receiving product data.
Venzee believes intelligent supply chain functionality is
inevitable and will significantly benefit growers, makers, brands,
sellers, regulators, and consumers. Venzee is building the
foundation for a future where seamless, accurate, automated data
flow simplifies processes, removes friction, and creates value for
all those that rely on the myriad of data and information
surrounding any product, anywhere.
Venzee unlocks shareholder value by carrying out its mission to
create intelligent technology that removes friction from the global
supply chain. Its Mesh Connector™ product disrupts and displaces
inefficient manual processes in favor of integrated, machine-driven
solutions.
To learn more about the Venzee platform, visit venzee.com
Twitter: @usevenzee
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 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.
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SOURCE Venzee Technologies Inc.
