Venzee Appoints Enterprise Supply Chain Veteran as President and CEO

VANCOUVER, Aug. 14, 2019 /CNW/ - Venzee Technologies Inc. (TSX-V:VENZ) ("Venzee" or the "Company") has announced the appointment of John Sexton Abrams as President and CEO, effective immediately.

Mr. Abrams' previous leadership successes range from creating Redbox, a non-stop revenue-producing asset for McDonald's Corporation (MCD:NASDAQ) that sold to Coinstar for US$200 million, and the separation of various Cardinal Health (NYSE:CAH) assets to form CareFusion (NYSE:CFN), which was acquired for US$12.2 billion by Becton Dixon and Co (BDX:NASDAQ). 

Most recently, before joining Venzee as VP Channel Partnerships, Mr. Abrams led strategy and partner engagement for Shotfarm, LLC, a Product Information Distribution platform (PID) that was recently acquired by Syndigo, for undisclosed terms.

Mr. Abrams commented, "I'm excited to move into a greater leadership role with Venzee. Our platform enables enterprise clients to unlock unprecedented growth from a fully-integrated, highly-autonomous, global supply chain. My bold vision for Venzee's future growth is based on consumer-driven, highly-efficient trade. I am excited to be in a position to unlock our tremendous potential. I look forward to growing our channel partner base, expanding our list of API integrated retailers, and accelerating the growth of our business."

Over the course of the last year, Mr. Abrams has led Venzee to shift its growth towards a channel partnership model, which has allowed the Company to access industry-leading technology partners and more than 100,000 client brands and manufacturers, including Amazon, Shopify, and Wayfair. Mr. Abrams' strategic approach has allowed Venzee's partners to provide their clients with intelligent technology that removes manual processes and allows brands, manufacturers, distributors, and retailers to operate at the speed of digital commerce.

For more than two decades, Mr. Abrams has helped global brands – McDonald's Corporation, Kaiser Permanente, Cardinal Health – leverage better data to reduce cost, improve supply chain processes and transform the customer experience. As a member of GS1 at the global level, Mr. Abrams worked to unlock the promise of a safer and more efficient healthcare system with better, more complete and more timely data – exchanged with any trading partner seamlessly, on a global scale.

Peter MacKay will be stepping down from his position as President and CEO of Venzee. The Company is thankful for his time during this transition and wishes him well in his future endeavors.

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
[email protected]

 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 its latest annual information form filed August 29, 2018, 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.

SOURCE Venzee Technologies Inc.

Venzee, Investor Relations: Caleb Jeffries, Kin Communications Inc., 1-866-684-6730, [email protected]