Already an Automated Content Distribution Option for more than 100,000 Global Manufacturers, this Integration Agreement Targets a High Growth European Market Segment
VANCOUVER, Jan. 17, 2019 /CNW/ - Venzee Technologies Inc. (TSX-V:VENZ) ("Venzee" or the "Company"), the most advanced platform for the distribution of consumer-relevant product information, is pleased to announce today the finalization of an integration agreement for the Venzee distribution platform with an existing product content management engine. This agreement is an enhancement to a relationship with an existing referral partner based in the European Market.
"Integrating to existing platforms with specific geographic and market segment strengths, dramatically accelerates Venzee's growth and allows brand manufacturers to immediately recognize digital supply chain efficiencies, optimize process, and delight their trading partners," stated John Abrams, Vice President for Partner Development. "We are pleased to continue our global partnership growth with the addition of an innovative platform with more than 1,000 existing manufacturers and retailers."
Launched in 2018, Venzee's Channel Partner Program was created to allow Content Management Platforms (PIM, DAM, and MDM platforms) to leverage Venzee's Mesh API to facilitate greater digital content efficiency for their clients - typically high-volume manufacturers, large retailers, and global distributors. Venzee provides its partners with a highly desirable, flexible, and efficient API-based content distribution platform. Venzee's workflow technology complements and extends functional utility without the "rip and replace" challenge of integrating other solutions with Content Management System (CMS), Enterprise Resource Planning (ERP), or other platforms common in complex organizations.
Venzee's intense focus on using modern technology to automate process and remove content distribution friction aligns with and supports the objective of providing "end-to-end" content availability made by traditional content management platforms serving the vast majority of enterprise-class manufacturers, retailers, and distributors.
Including this agreement, Venzee has four signed partners from our funnel of 34 partners in discussion to utilize our technology, of which nine more are in active negotiations.
The Company also announces that it has granted incentive stock options to certain of its directors, officers, and employees to purchase up to an aggregate of 3,350,000 common shares of the Company (the "Options"). The Options are exercisable for a period of five years, at a price of $0.10 per share, being just above the closing price of the Venzee common shares on the TSX Venture Exchange on January 15, 2018, the last trading prior to the date of grant. All Options were granted in accordance with the Company's stock option plan.
Venzee is a data transformation and distribution solution that eliminates inefficiencies in the digital supply chain by delivering consumer-ready product information to retailers. Powered by our core technology, Mesh, Venzee automates content exchange workflows that increase margins and accelerate revenue. Through a suite of products, we provide customized solutions for enterprises of all sizes, meeting each client's desired level of sophistication and automation.
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 execution of the Company's growth strategy, the expected results from the entering into of partnership agreements, the expected results from Venzee's Channel Partner Program, the use of, and expected results from, Venzee's technology by end users and Venzee's expected revenue generation. 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, 2017 and its latest annual information form filed August 29, 2018, 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 Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Venzee Technologies Inc.
For further information: Peter Mackay, President and CEO, [email protected]; Investor Relations, Arlen Hansen, Investor Relations, Kin Communications Inc., 1-866-684-6730, [email protected]