Venzee Technologies Inc.
TSX VENTURE : VENZ

Venzee Technologies Inc.

January 18, 2018 07:30 ET

Trans Globe Lighting, a Leading Lighting Manufacturer, Chooses Venzee to Update Retailers

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 18, 2018) - Venzee Technologies Inc. (TSX VENTURE:VENZ) ("Venzee" or the "Company") is pleased to announce that Trans Globe Lighting, a leading manufacturer of residential lighting to retailers including Walmart, Amazon, and The Home Depot, is expanding its use of Venzee to support its 100+ additional retailers.

Using artificial intelligence, Venzee transforms product information from suppliers and manufacturers into the requirements of retailers, eliminating a labor intensive process. Recent research has shown that 94% of spreadsheets contain errors after deployment, a problem solved using Venzee's platform (source: Supply Chain DIVE).

Peter Mackay, CEO of Venzee, commented, "Venzee represents substantial return on investment for both vendors and retailers by removing an unnecessary step from their product workflow. By removing this step, Venzee eliminates human error, reduces human resources, and increases margins which is critical for e-commerce businesses to be successful."

"We're thrilled to be expanding our relationship with Trans Globe Lighting, who have utilized our platform not only to update some of their largest retailers, but to sync with their supply chain in China. They're a great example of a forward-thinking brand in the residential lighting space", added Mr. Mackay.

Venzee provides high value customized SaaS (software-as-a-service) solutions to tier-1 enterprise clients around the world. Additionally, it accommodates the budgets of smaller retailers, with pricing starting from US$49 per month for paying members.

According to Statista, in 2016, the global e-commerce industry achieved estimated US$1.8 trillion dollars in sales, and is expected to grow to US$4.5 trillion by 2021. As e-commerce sales continue to grow at staggering rates, the need for better delivery of product information for businesses is now solved with the Venzee software solution.

About Trans Globe Lighting

Trans Globe Lighting is proud to be a leading manufacturer of residential lighting, lamps and home décor since 1986. Born from the hopes and aspirations of two entrepreneurial spirits, Trans Globe Lighting is a true testament to the American dream. Trans Globe Lighting's mission from the start was exceeding the industry standard in value, style and selection. Today that mission remains stronger than ever. For more information on Trans Globe lighting, visit the corporate website at https://www.tglighting.com

About Venzee

Venzee is a SaaS company that launched in 2014 to help e-commerce vendors and retailers easily share product information in a US$23 trillion retail industry (source: Statista). Traditionally, this was done using spreadsheets which created a labor-intensive process that delayed products from reaching the marketplace. Venzee's technology, leveraging artificial intelligence to streamline product information management, allows thousands of vendors and retailers to seamlessly share information, avoiding delays and getting products to market faster than ever. The Company graduated from notable startup accelerator program 500 Startups and is already powering some of the biggest brands in the world.

To learn more about Venzee, visit https://venzee.com. For more about Mesh, visit https://meshblockchain.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 execution of the Company's growth strategy. 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" in the Company's filing statement dated December 12, 2017, which is 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.

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