Venzee Technologies Announces $1.5M Private Placement

Financing to Accelerate Mesh Connector™ Revenue Growth

VANCOUVER, BC, Dec. 1, 2020 /PRNewswire/ - Venzee Technologies Inc. (TSXV: VENZ) ("Venzee" or the "Company") announced today it intends to complete a non-brokered private placement of units of the Company ("Units") at a price of $.055 per Unit, for anticipated aggregate gross proceeds to the Company of approximately $1,500,000 (the "Offering").

John Abrams, CEO of Venzee states, "Venzee has established sales targets for fiscal 2021 and 2022 relative to the number of active, revenue-producing Mesh Connectors™. Across sales partners and brands active on our platform we have now a Total Addressable Market of more than 13,500. Within that attractive TAM, we have today a significant, active, and accelerating pipeline of Mesh Connector™ sales opportunities for the foreseeable future. With strong engagement from a growing set of sales partners and large, Fortune 500 brands, our intelligent platform and ability to connect to any retailer positions us to deliver strong results and tremendous growth in line with our ambitious plans for fiscal 2021 and beyond."

Each Unit is 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 $0.11 per Common Share at any time up to 36 months following the closing date of the Offering. The Warrants will also be subject to an acceleration clause whereby, in the event the volume weighted average trading price of the Common Shares on the TSX Venture Exchange ("TSXV") is equal to or greater than $.20 for a period of 10 days, the Company will have the right to accelerate the maturity date of the Warrants to a date that is 30 days from the date the Company issues a press release stating its intention to accelerate the expiry date of the Warrants.

In connection with the Offering, the Company intends to pay finders' fees to certain registered brokerage firms, comprising of cash payment equal to 7% of the gross proceeds raised by purchasers introduced by such brokers, and in the issuance of non-transferable compensation units equal to 7% of the number of units purchased by purchasers introduced by such brokers. Such compensation warrants will be issued on substantially the same terms and conditions as the Warrants.

The net proceeds received by the Company from the Offering are expected to be used for general working capital purposes, further advancing the Company's channel partnership business model and completing revenue generating connection requests from its channel partners and brands.

Subject to customary closing conditions, including the approval of the TSXV, the Offering is expected to close on or about December 10th, 2020. However, there is no assurance that the Company will complete the Offering upon the terms set out above, or at all.

About Venzee Technologies, Inc.

Venzee (TSX-V VENZ) is a technology platform used by Global Brands to speed products to market and create competitive supply chain advantage. Venzee displaces costly, labor-intensive last-mile retail processes with a low-cost intelligent platform solution.

We believe intelligent supply chain functionality is inevitable and will significantly benefit growers, makers, brands, sellers, regulators, and consumers. At Venzee, we're building the foundation for a future where seamless, accurate, automated data flow simplifies processes, removes friction, and creates value for all those that rely on the myriad of data and information surrounding any product, anywhere.

Venzee's mission is to unlock shareholder value by creating intelligent technology that removes friction from the global supply chain. Our products disrupt and displace inefficient manual processes in favor of integrated, machine-driven solutions.

To learn more about Venzee, visit venzee.com

On Behalf of the Board,

John Sexton Abrams
President and CEO
Venzee Technologies, Inc.
john@usevenzee.com
888-359-9299

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 terms of the Offering, the completion of the Offering and the expected use of the net proceeds received by the Company. 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, 2018, and the quarter ended August 29, 2019, 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-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Venzee Technologies Inc.