Venzee Technologies Acquires Rights to Digital Commerce Payments’ New E-Commerce Shelf Capability Software

On August 22, 2024, Venzee Technologies Inc. (TSXV: VENZ) completed the acquisition of the exclusive right to use new e-commerce shelf capability software from Digital Commerce Payments Inc. (“DCP”), pursuant to the terms of a software right-of-use agreement.

The purchase price was satisfied by the issuance of 19,318,182 common shares in the capital of Venzee to DCP at a deemed issue price of $0.22 per share and resulted in DCP and its joint actors holding an aggregate of approximately 44% of the issued and outstanding shares following the issuance. In connection with the completion of the transaction, Venzee completed amendments to its outstanding stock options and convertible debentures to reduce the exercise and conversion prices of such securities to $0.35 per share and $0.30 per unit underlying the debentures, respectively.

Venzee operates an e-commerce PIM/PXM platform aimed to disrupt and displace inefficient manual processes in favor of integrated, machine-driven solutions.

DCP operates and develops digital payments solutions for clients across a broad spectrum of sectors. 

Aird & Berlis represented DCP with a team that included Richard Epstein, Sean Mason, Liam Tracey-Raymont, Nadia Narain, Annie Xie and Joshua Ward.