BnSellit Technology Inc. Provides Operations Update and Announces Second Closing of Private Placement

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mobtkr4 July 2022Last Update : 1 month ago
BnSellit Technology Inc. Provides Operations Update and Announces Second Closing of Private Placement

Calgary, Alberta–(Newsfile Corp. – July 4, 2022) – BnSellit Technology Inc. (CSE: BNSL) (“BnSellit“or the”Company”) is pleased to announce that it has completed and launched the Full Enterprise HOTEL platform which was in beta testing throughout Q1 and Q2 2022. The Enterprise Hotel platform now includes automated requests housekeeping, maintenance and service, hotel-operated concierge services, essential services access to information, details of hotel amenities, express room payment, communication between guests and staff and self-service point of sale. These features are in addition to the original BnSellit experiences, selling and renting goods and services to customers.

BnSellit also announced its 6-month risk-free trial offer to hotels offering full access to the comprehensive hotel platform for free with an option to unsubscribe at the end of the trial period. BnSellit added 22 new hotels bringing the total number of hotels to 39 representing 4,622 rooms since the release of the full hotel platform in early June 2022 with the risk-free trial offer.

Hotels can now offer their guests a full suite of service options in over 14 languages, using any mobile device, tablet or computer by simply scanning QR codes placed in guest rooms and across the hotel property. the hotel. There are no apps to download or install.

“Domestic leisure travel returns to pre-pandemic levels in 2022, which is great news for hotel operators. However, the pandemic has created serious staffing issues at many hotels serving leisure travelers providing the best guest experience remains the biggest problem facing hotel operators, many of them are turning to technology to help solve their staffing challenges, technology that can replace many of the tasks performed by hotel staff while maintaining the highest level of services.We are extremely pleased to see such high level interest from hotels of all sizes and expect hotel listings and room numbers accelerate in the coming months.” -Tony Comparelli

In addition to transaction fees generated by sales, rental and experience bookings, BnSellit will charge monthly subscription fees to hotels accessing the full enterprise platform starting at $99 per month per hotel .

Announcement of the second closing of the private placement

The Company is also pleased to announce that it has completed the second $136,000 principal tranche of unsecured convertible debentures (the “Convertible debentures“) to date, for a cumulative total of $236,000 at a price of $1,000 per principal amount of convertible debentures (the “Offer“).

The convertible debentures bear interest from the closing date at the rate of 10% per annum, payable monthly in arrears on the 30e day of each calendar month, commencing July 30, 2022. The Convertible Debentures mature 18 months after the date of issue (the “Due date“). The convertible debentures are convertible at the option of the holders into Class A common shares of the Corporation (the “Shares“) at a conversion price of $0.25 per share (the “Processing price“) at any time prior to the close of business on the Maturity Date.

If the volume-weighted average trading price of the shares on the Canadian Securities Exchange (the “CSE“) for 10 consecutive trading days is equal to or greater than $0.60, the Company may force the conversion of the entire principal amount of the Convertible Debentures at the Conversion Price, by giving the holders of Convertible Debentures 15 days written notice , in accordance with the terms of conversion.

Securities issued for an aggregate principal amount of $46,000 and $90,000 under the Offering are subject to the applicable statutory hold period ending October 31, 2022 and November 5, 2022, respectively. The Offer is subject to the approval of the CSE.

For more information, please contact:

Antonio Comparelli, General Manager
Email: [email protected]
Tel: 416-720-8677

Corey Heerensperger, Chief Financial Officer
Email: [email protected]
Tel: 403-630-2779

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129955

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