VSBLTY Groupe Closes First Tranche of Private Placement for $1,165,000

VSBLTY

An exciting development for VSBLTY Groupe Technologies Corp. (CSE:VSBY) (OTCPK:VSBGF) was announced this week. The company has officially closed the first portion of its brokered private placement with Echelon Wealth Partners Inc. The offering, for which Echelon served as lead agent and sole book-runner, has raised gross proceeds of $1,165,000 for VSBLTY.

Initially announced on August 13, the debenture was closed on August 29. It will bear interest annually on an accrual basis at a rate of 10 percent and will mature two years from the closing date.

VSBLTY paid $93,200 as a cash commission to Echelon for the deal. It also provided a finance fee of 99,857 shares and issued 266,286 non-transferable broker warrants. These warrants allow Echelon to buy shares in VSBLTY for $0.60 per share any time before August 29, 2021.

This is VSBLTY’s second non-brokered private placement in as many months. On July 19, it closed a convertible debenture offering for $745,500. Proceeds from both deals will be used for acquisitions as well as general and corporate working capital purposes.

VSBLTY Offers Cutting-Edge Facial Recognition Technology

Based in Philadelphia, VBLTY is transforming the world’s retail and public spaces through facial recognition technology. Its industry-leading solutions employ computer vision, artificial intelligence, machine learning, and biometrics.

In retail, the company offers SaaS solutions that use facial analytics to reveal key customer demographics like age, gender, interactivity, and length of engagement.

This data is gathered through the placement of transparent digital displays in a retail environment. When a customer looks at the signage on the display, VSBLTY’s software utilizes photos, animations, video, and multimedia content related to the retailer’s products in order to engage the customer.

This solution, called VisionCaptor, can be paired with DataCaptor, which analyzes the customer’s demographics and engagement with the display. Those analytics ultimately provide actionable intelligence to the retailer.

>> Penny Stocks to Watch Now: Plug Power and Biocept

For the security sector, VSBLTY’s facial recognition technology can assist security teams to better protect the public. Its security-focused software module, VSBLTY Vector, combines video screens with criminal databases to identify persons of interest through computer vision and machine learning.

VSBLTY Vector also searches the dark web for information related to possible threats. This solution does not require the cloud, meaning it can operate with considerable speed and accuracy even in a closed system.

VSBLTY is Establishing Its Position in a Growing Market

According to a report from Zion Market Research, the global market for IoT public safety solutions was worth just under $1 billion last year. By 2025, it is expected to be worth nearly $2.8 billion, with a compound annual growth rate of 15.83 percent.

In July, VSBLTY showcased its Vector technology at the Shepard Sandbox User Conference in Louisville Kentucky. A month earlier, the company was selected to exhibit Vector at the 2019 NBA Security Conference & Vendor Summit in Las Vegas.

In May, VSBLTY partnered with Onyx-Glass to install its retail-focused software solutions in vending machines across South Africa and Australia.

Before the first tranche of the private placement with Echelon was closed, VSBY stock on the CSE sat at a 52-week low of $0.255. Since the announcement, it has risen more than 25 percent.

>> Read More Tech News

Featured image: Facebook

Please See Disclaimer

If You Liked This Article Click To Share


Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on their research and understanding of the sector.

2) The Article was issued on behalf of a third party, VSBLTY Groupe Technologies Corp. Market Jar Media Inc. has or expects to receive 200,000 options of VSBLTY Groupe Technologies Corp. from 4/23/2019 to 4/23/2020.

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.’s terms of use and full legal disclaimer as set forth here.. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on Microsmallcap.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on Microsmallcap.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.