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Venzee Technologies Announces Convertible Debt Financing
Venzee Technologies Announces Convertible Debt Financing Canada NewsWire ...
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[{"type":"text","content":"\n \n \n \n Venzee Technologies Announces Convertible Debt Financing\n \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 Canada NewsWire\n \n \n \n \n \n \n CHICAGO\n \n \n ,\n \n \n June 23, 2022\n \n \n /CNW/ -\n \n \n \n Venzee Technologies Inc.\n \n (TSXV: VENZ) (OTCQB: VENZF) (\"\n \n Venzee\n \n '' or the \"\n \n Company\n \n \"), the artificial intelligence (\"\n \n AI\n \n \") platform for product data, wishes to announce a proposed non-brokered private placement of unsecured convertible debentures (\"\n \n Debentures\n \n \") to raise gross proceeds of\n \n CAD$600,000\n \n (the \"\n \n Debenture Offering\n \n \").\n \n \n \n \n \n \n \n \n \n The Debenture Offering will have a minimum investment of\n \n CAD$25,000\n \n and in multiples of\n \n CAD$25,000\n \n . The Debentures will have a maturity date of three (3) years from the date of issuance and shall bear interest at a rate of 5% per annum, payable every six (6) months. The principal sum of the Debentures, or any portion thereof, are convertible at the option of the holder, anytime after six (6) months, into debenture units (each, a \"\n \n Debenture Unit\n \n \") at\n \n CAD$0.05\n \n per Debenture Unit.  Each Debenture Unit will consist of one common share (a \"\n \n Share\n \n \") and one common share purchase warrant (a \"\n \n Warrant\n \n \") with each Warrant exercisable at\n \n CAD$0.08\n \n for 36 months from the date of issuance. The Warrants will also be subject to an acceleration clause whereby, in the event the volume weighted average trading price of the Company's shares trading on the TSX Venture Exchange (the \"\n \n Exchange\n \n \"), or any other stock exchange on which the Company's shares are then listed, is equal to or greater than\n \n $0.25\n \n for a period of 30 consecutive trading days, the Company will have the right, but not the obligation, to accelerate the expiry date of the warrants by giving written notice to the holders that the warrants will expire on a date that is not less than 30 days from the date of notice.\n \n \n In connection with the Debenture Offerin...