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Venzee Announces Closing of Oversubscribed Private Placement for $2.1M
Venzee Announces Closing of Oversubscribed Private Placement for $2.1M Canada News...
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[{"type":"text","content":"\n\n\n\nVenzee Announces Closing of Oversubscribed Private Placement for $2.1M\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, April 29, 2019\n\n\n\nVANCOUVER, April 29, 2019 /CNW/ - Venzee Technologies Inc. (TSX-V: VENZ) (\"Venzee\" or the \"Company\") is pleased to announce that it has completed an oversubscribed non-brokered private placement (the \"Private Placement\") consisting of the issuance of 28,257,789 units of the Company (\"Units\") at a price of $0.075 per Unit, for aggregate gross proceeds to the Company of approximately $2.1 million, as announced by the Company on April 22, 2019.\n\n \n \n\n \nPeter Mackay, President and CEO at Venzee states, \"This additional capital is expected to be utilized to close additional channel partnership agreements and for partner integration, marketing, and general working capital. We believe that the recently executed partnership and the implementation of our Mesh API into our partners' software gives everyone the confidence in our technology, our ability to attract global e-commerce service providers and our intention to build a platform for revenue growth.\"\nEach Unit was comprised of one common share of the Company (\"Common Share\") and one common share purchase Warrant (\"Warrant\"), with each Warrant being exercisable for one Common Share at an exercise price of $0.15 per Common Share at any time up to 36 months following the closing date of the Private Placement. The Warrants are also subject to acceleration in the event the volume weighted average trading price of the Common Shares on the TSX Venture Exchange (\"TSX-V\") is equal to or greater than $0.25 for a period of 10 consecutive trading days. In such case, the Company may, but shall have no obligation to, accelerate the expiry time of the Warrants to a date that is 30 days following the date of issuance of a press release by Venzee announcing its intention to accelerate the expiry time.\nIn connection with the Private Placement, the Company has agreed to pay finders' fees to certain registered brokerage firms, comprising in ...