Today, world leading Proactive Digital Display company VSBLTY Groupe Technologies Corp. (CSE:VSBY) (OTCBB:VSBGF) announced the closing of the second tranche of its private placement led by Echelon Wealth Partners Inc.
The second tranche of the offering of $1,000 principal amount 10% convertible unsecured debentures has raised gross proceeds of $1,857,120 CAD. Of that figure, $1,691,000 was generated from the brokered portion of the private placement and $166,120 was generated from the non-brokered portion.
The first tranche of the offering—which raised gross proceeds of $1,165,000—was closed on August 29. As of today’s announcement, VSBLTY has raised a total of $3,022,120 from the private placement, through both the brokered and non-brokered offerings.
Details of the Offering
First announced on August 13, the brokered private placement was initially intended for total proceeds up to $3,000,000.
As a result of significant demand from VSBLTY’s investor community, however, the company has announced that the agreement with Echelon has been amended to increase the size of the offering to up to $4,500,000 in gross proceeds.
The debentures from the second tranche will bear interest from the closing date, September 19, 2019, to the maturity date exactly two years later. The interest will be 10 percent per year on an accrual basis, payable semi-annually. No announcement has yet been made for a third tranche.
As with the proceeds from the first tranche, VSBLTY will use the nearly $2 million for acquisitions and general corporate purposes. In addition to the offering with Echelon, the company also closed a non-brokered private placement in July for gross proceeds of $745,500.
VSBLTY is Deploying it Assets Commercially
VSBLTY Groupe creates audience measurement and security software with transformative applications for retail spaces and public safety. Its solutions—VisionCaptor, DataCaptor, and VSBLTY Vector—employ artificial intelligence, computer vision, and machine learning.
On May 7th, the company partnered with Onyx-Glass, a manufacturer of transparent photovoltaic glass, for a staged deployment of its software in vending machines across South Africa and Australia.
The software will gather information related to the age, gender, and sentiment of vending machine customers. It will also provide audience measurement data such as content touches, traffic counts, and dwell time by location.
On September 4, VSBLTY formalized a three-year, $10 million USD agreement with Energetika Technologies to provide real-time crowd analytics and audience measurement for Mexican municipalities.
The initial deployment, beginning this fall, will see VSBLTY Vector installed in cameras placed around two boroughs of Mexico City. Later, the technology will be used in to serve other municipalities in the country.
On Sept. 11, Seneca Labs—a division of Arrow Electronics, Inc. (NYSE:ARW)—selected VSBLTY as a preferred vendor for its visual media product solutions.
Seneca chose the company for its industry-leading content management systems (CMS) and audience measurement software. VSBLTY’s technology will be included in Seneca’s integration software, “Maestro,” which will come pre-loaded on digital media players.
The Future of the Market
Cash-rich thanks to the private placements, VSBLTY is well-positioned to capture two increasingly lucrative markets.
According to a report from Zion Market Research, the global public safety market, which includes surveillance and security solutions such as those offered by VSBLTY, is projected to be worth $2.7 billion USD by 2025.
Likewise, a report from BIS Research projects that the global video surveillance market is estimated to grow by a staggering $77.21 billion between 2018 and 2023 at a CAGR of 16.14%.
It will be fascinating to watch VSBLTY as its technology continues to transform both the retail customer experience and the method of identifying weapons and persons of interest. Keep watching this space to find out what exciting news the company will announce next.
Featured image: DepositPhotos © efired
