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.

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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.

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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.

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