Venzee Announces Strategic Changes to Its Board of Directors

Venzee Technologies Inc. (TSXV:VENZ) (“Venzee” or the “Company”), in support of a strategic shift to an enterprise selling model, Venzee has announced the appointment of Peter Montross, Markus Westerholz, and Sean Copeland to its Board of Directors. The group joins Dan Wilkinson and John Abrams – both previously named to the Venzee board.

To accommodate these changes, Venzee has accepted the resignations of board members Dan Jeffries, Brian Budd, and Michael (Myke) Clark.

John Abrams, President and CEO of Venzee said, “Dan, Brian, and Myke helped build the foundation of Venzee and bring it to the public markets. Their hard work has positioned our company for growth and I am grateful for their service. As we enter our next stage, we have added significant sales expertise with Dan Wilkinson and Peter Montross. As well, the addition of Sean Copeland and Markus Westerholz bring unparalleled technical strength to our board and, together, these skill sets will unlock the global relationships necessary to outperform our competition and grow revenue.”

Relevant biographical highlights

• Peter Montross, Venzee’s VP Enterprise Business, replaces Dan Jeffries as board chair. Peter brings over 20 years of experience in the retail industry, delivering strong revenue performance and growth. He has extensive sales leadership experience and success with SaaS content exchange solutions, business intelligence products, and product information management software products and services. His experience in the Product Information Distribution space (PIDS) includes leadership positions at Edgenet and Shotfarm, both acquired by Syndigo in 2019.
• Sean Copeland joins the board as an independent director and replaces Brian Budd. Sean brings over 20 years of experience as an operations and technology executive for international commercial operations, with a focus on applying technology and communications to the financial challenges of businesses. Sean has been involved in international payments and has held roles in Fintech, start-up enterprises, providing innovative technology-based financial solutions to customers, including payment processing, invoicing, transacting electronic bills of sale and other solutions. Presently, Sean is Director at BOEX Ltd, the originator of a proprietary end-to-end solution for global supply chains which affords supply chain participants and sovereign nations unprecedented financial and logistics control and visibility. In his more than 10 years of involvement with the Internet Corporation for Assigned Names and Numbers (ICANN), Sean has participated in and led multinational Internet policy development and diplomacy. Sean also serves as technical lead for the domain name registry for the United States Virgin Islands.
• Markus Westerholz, Venzee’s Chief Technology Officer, replaces Michael (Myke) Clark. Markus has been a driving force behind modernizing Venzee’s technology stack and improving development processes and practices. Previously, Markus was a Team Lead and Software Architect at Copperleaf Technologies, a decision analytic company for managing critical infrastructure, and Team Lead and Software Architect at MediaValet, a SAS DAM provider.

Sean Copeland noted, “Retail trade will reach a new level of maturity as ‘last mile’ connectivity challenges are addressed with new and innovative technologies. Venzee is tackling these needs head on and removing the friction from supply chain with integrated, intelligent technologies. I’m excited to be involved with a company that is positioned to catalyse supply chain change at scale.”

According to Peter Montross, “Venzee is well positioned to grow as retail trade continues to accelerate. Venzee’s ability to streamline the syndication process is unmatched in the industry. Our focus now is on execution, and I look forward to working with John, the other board members, and the entire Venzee team to deliver results that positively serve our partners, their clients and our shareholders.”

The Venzee platform is built on an advanced, cloud-based architecture. By leading with a modern, application programming interface (API) integration approach, Venzee reduces technical challenges for both suppliers and retailers, allowing for supply chain improvement without significant technical investment.

About Venzee
Venzee is an intelligent content distribution solution that eliminates inefficiencies in the digital supply chain by delivering consumer-ready product information to retailers via a peer-to-peer network. Powered by our core technology, Mesh, Venzee automates content exchange workflows that increase margins and accelerates 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.

Venzee operates as a Software as a Service (SaaS) platform, allowing flexibility for enterprise customers of all sizes wishing to improve their digital supply chain solutions. To learn more about Venzee, visit https://venzee.com/

On Behalf of the Board,
John Abrams, President and CEO
john@venzee.com

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 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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