Mr.
Peter Montross reports
VENZEE TECHNOLOGIES INC. ANNOUNCES PROPOSED DEBT SETTLEMENT
Venzee Technologies Inc. has amended the debt settlement previously announced April 13, 2023. The company will
settle debt owed from salary and wages due to the current and former employees, contractors and
consultants to settle an aggregate of up to
$236,931.30 in payables owed to the parties in exchange for an aggregate of up to
21,513,200 common shares in the capital of the company at a deemed issuance
price of one cent per settlement share. The company is proposing to issue the settlement shares to settle
the payables in order to preserve cash for general working capital purposes.
All securities issued pursuant to the debt settlement agreements will be subject to hold periods until the
date that is four months and one day from the date of issuance. Settlement of the payables and issuance
of the settlement shares will also be subject to the acceptance of the TSX Venture Exchange. There is no guarantee that such conditions precedent will be satisfied or that any of the transactions will
be completed as described herein or at all.
About Venzee Technologies Inc.
Venzee unlocks shareholder value by carrying out its mission to create intelligent technology that removes
friction from the global supply chain. Its Mesh Connector product disrupts and displaces inefficient
manual processes in favour of integrated, machine-driven solutions.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.