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Venzee Technologies Inc. — Capital/Financing Update 2023
Mar 29, 2023
44470_rns_2023-03-29_3be7d2f3-e237-44e6-bede-22c32a1e42ca.pdf
Capital/Financing Update
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March 29, 2023
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For immediate release
VENZEE TECHNOLOGIES INC. ANNOUNCES ENGAGEMENT OF DIGITAL COMMERCE PAYMENTS INC.
Toronto, Ontario, Canada – Venzee Technologies Inc. (TSXV: VENZ) (" Venzee " or the " Company "), is pleased to announce that it has entered into a consulting and advisory services agreement with Digital Commerce Payments Inc. (“ DCP ”).
Pursuant to the terms of the agreement, DCP will offer certain strategic and advisory services in connection with managing and resolving claims of the Company’s creditors and addressing the Company’s liquidity needs. The Company will pay DCP a monthly fee of $30,000, which shall be payable in common shares of Venzee at the end of each month in which services are provided and calculated on the basis of the closing price on the last trading day of such month. The settlement of the monthly fee in common shares is subject to approval of the TSX Venture Exchange.
All dollar amounts in this news release are denominated in Canadian dollars.
About Venzee Technologies, Inc.
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
About Digital Commerce Payments Inc.
In a world where innovation and disruption are key to success, DCPayments is leading the charge with cutting-edge digital payment solutions. From seamless integrations to fully customizable options, we help you put fast, reliable solutions at the heart of your business.
To learn more about Digital Commerce Payments, visit https://dc-payments.ca/.
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 TSX Venture Exchange’s approval of the settlement of the monthly fee in common shares. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is
Venzee Technologies 422 Richards Street, Suite 170 Vancouver, BC V6B 2Z4 Canada
venzee.com
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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 financial year end, 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 the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, contact:
Peter Montross Chief Operating Officer Venzee Technologies, Inc. 503-320-8046
Pamela Draper President Digital Commerce Payments Inc. 587-885-2170 [email protected]
Venzee Technologies 422 Richards Street, Suite 170 Vancouver, BC V6B 2Z4 Canada venzee.com