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Venzee Technologies Announces Revised Private Placement
Venzee Technologies Announces Revised Private Placement Canada NewsWire ...
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[{"type":"text","content":"\n \n \n \n Venzee Technologies Announces Revised Private Placement\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 May 6, 2022\n \n \n /CNW/ -\n \n \n Venzee Technologies Inc.\n \n \n (TSXV: VENZ) (OTCQB: VENZF\n \n )\n \n (\"\n \n Venzee\n \n '' or the \"\n \n Company\n \n \"), the artificial intelligence (\"AI\") platform for product data, announced it has closed a non-brokered private placement, previously announced on\n \n March 30, 2022\n \n at\n \n $405,200\n \n CAD issuing 5,065,000 units. The Company now intends to complete a new non-brokered private placement of units of the Company (\"Units\") at a price of\n \n $0.05\n \n per Unit, for anticipated gross proceeds of\n \n $1.0M\n \n CAD (\"the revised Offering\").\n \n \n \n \n \n \n \n \n \n \n John Abrams\n \n , CEO of Venzee, said, \"Although we have continued demonstrable shareholder support, in all fairness we believe we had to reprice our offering to reflect current worldwide market conditions.\"\n \n \n With respect to the revised Offering, each Unit is comprised of one common share of the Company and one common share purchase warrant, with each warrant being exercisable for one common share at an exercise price of\n \n $0.10\n \n 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\n \n $0.25\n \n 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.\n \n \n In connection with the revised Offering, the Company intends to pay finders' fees to certain registered brokerage firms, comprising of cash payment equal to 8% of the gross proceeds raised by purchasers introduced ...