Vancouver, B.C. – July 14, 2022. Plank Ventures Ltd. ("Plank" or the "Company") (CSE:PLNK) announces that it has issued a promissory note to Lanebury Growth Capital Ltd ("Lanebury") (CSE:LLL) for the proceeds of CAD $1,300,000 (the "Loan"). The proceeds of the Loan will be used to repay two loans payable to Code Consulting Ltd. ("Code"): a $200,000 CAD loan carrying 10% annual interest maturing on December 31, 2022, and $700,000 USD loan carrying 10% annual interest maturing on December 31, 2022.
The Loan is a related party transaction pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Mr. Lance Tracey is the beneficial owner of Code, a director of Lanebury and a control person of Lanebury and Plank, and, as such, Mr. Tracey has abstained from voting with respect to the Loan.
Lanebury and Plank relied on the exemption from the valuation requirement pursuant to section 5.5(b) (Issuer Not Listed on Specified Markets) of MI 61-101 and from the minority shareholder approval requirement pursuant to section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.
There is no undisclosed material information by Lanebury or Plank. Lanebury and Plank each have at least one independent director, and all independent directors approved the Loan from Code and the Loan to Plank.
About Lanebury Growth Capital Ltd.
Lanebury is an investment company with an investment strategy focused on building a portfolio of high-quality investments in technology start-ups. The Company targets investments, for the most part, that have a monthly revenue model and can be scaled easily using internet and mobile technologies.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company, Lanebury, and their respective business within the meaning of applicable securities laws, including the business plans and prospects of the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in the Company's public filings under its SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Vancouver, B.C. - April 14, 2022. Plank Ventures Ltd. ("Plank" or the "company") (CSE:PLNK) is pleased to announce that the Company's board of directors has approved the granting of stock options (the "Options") exercisable for a total of 1,212,500 common shares to its directors, officers, employees and consultants at an exercise price of CAD$0.23 per common share. All Options were granted pursuant to the Company's stock option plan and are subject to the terms of the applicable grant agreements and the requirements of the Canadian Securities Exchange.
The options are subject to a 4-year vesting period, with ¼ of the options vesting one-year after the date of the grant and the remaining options vesting on a monthly basis thereafter. The options expire 10 years from the date of the grant, subject to the optionees continuing to act as directors, officers or consultants of the Company.
Following the grant of stock options, the Company now has a total of 1,262,500 stock options issued representing approximately 7.12% of the outstanding common shares of the Company.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company, and their respective business within the meaning of applicable securities laws, including the business plans and prospects of the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under its SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Vancouver, B.C. - April 1, 2022. Plank Ventures Ltd. ("Plank" or the "company") (CSE:PLNK) is pleased to announce that on, April 1, 2022, its subsidiary Votigo, Inc. ("Votigo") has purchased 100% of the membership interests of Promotion Activators Management, LLC ("Promotion Activators"), a company in the sweepstakes and contest administration space, for $1,650,000 USD. Votigo will finance the purchase with current cash on hand along with $500,000 USD provided by Plank in the form of a promissory note
"We are thrilled to add Promotion Activators to the Votigo family of businesses. They bring decades of experience in the contest and sweepstakes industry." Jim Risner, Co-CEO, Votigo, Inc.
"We are excited to be joining forces with Votigo and we look forward to taking Promotion Activators to the next level." Max Anderson Jr., Managing Partner of Promotion Activators Management, LLC
About Promotion Activators Management, LLC
Promotion Activators administers sweepstakes, games and contests. Services include promotion concept evaluation, official rules development, legal services, state registrations, entry page development, judging services, winner selection, verification and notification, prize fulfillment and tax form issuance.
About Votigo, Inc.
Votigo is a leading online promotions company with a Software-as-a-Service platform and professional services that supports premium, full-service solutions and easy-to-use self-service tools for brands and their agencies including Kraft Heinz, State Farm, A+E Networks, General Mills, and Air Canada. Votigo’s technology platform allows brands, agencies and enterprises to acquire, engage, and manage their customers across major Social Networks, the Web, and Mobile. Founded in 2006, Votigo has offices located in Boulder, Colorado; San Francisco Bay Area, and Hyderabad, India. Votigo made the Inc. 500 / 5000 list of fastest growing private companies in America in 2013 and 2012
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company, Votigo, Inc., Promotion Activators Management, LLC, and their respective business within the meaning of applicable securities laws, including the business plans and prospects of the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under its SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Vancouver, B.C. - March 29, 2022. Plank Ventures Ltd. ("Plank" or the "company") (CSE:PLNK) is pleased to announce that it has entered into a Simple Agreement for Future Equity subscription agreement (the "SAFE") with Karve IT Ltd. ("Karve"). Over the next 11 months, Plank will make equal monthly subscription payments to Karve for a total subscription amount of $300,000.
About Karve IT
Karve IT builds SaaS Franchise Management software for the home services industry with a focus on smart data tooling and improving the operations life cycle through workflows.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company, Karve IT Ltd., and their respective business within the meaning of applicable securities laws, including the business plans and prospects of the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under its SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Vancouver, B.C. - March 16, 2022. Plank Ventures Ltd. ("Plank" or the "company") (CSE:PLNK) announces that it has entered into a loan agreement with Sitemax Systems Inc. ("Sitemax") for $100,000 CAD. The loan bears interest at a monthly rate of 2%, compounded monthly, and is repayable in six equal monthly installments commencing six months from the date of the loan. The loan will be used to fund general working capital requirements in Sitemax.
About Sitemax Systems Inc.
SiteMax is a software product designed for the field to office communication needs of a commercial general contractor. SiteMax is a full Construction Management software solution that has generated millions of daily logs, safety reports, photos records, time entries and more, all over the world.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company, Sitemax Systems Inc., and their respective business within the meaning of applicable securities laws, including the business plans and prospects of the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under its SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Vancouver, B.C. - January 13, 2022. Plank Ventures Ltd. (CSE:PLNK)("Plank" or the "company") is pleased to announce the results of its annual general and special meeting of its shareholders held on December 30, 2021 (the "Meeting") to consider and vote on, among other things, fixing the number of directors, electing the directors and appointing the auditor.
The matters before the Meeting are described more fully in the management information circular dated November 29, 2021 (the "Circular"). The shareholders voted to fix the number of directors at three, elect Bradley Carlyle and re-elect Laurie Baggio and Brian O'Neill to the board of directors of the Company, and to appoint Dale Matheson Carr-Hilton LaBonte LLP, Chartered Professional Accountants as auditors of the Company for the ensuing year.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage startup companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-805-7498
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company and its business within the meaning of applicable securities laws, including the business plans and prospects of the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in the Company's public filings under its SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Vancouver, B.C. - December 23, 2021. Plank Ventures Ltd. ("Plank" or the "company")(CSE:PLNK) is pleased to announce that on December 22, 2021, its subsidiary Votigo Inc. signed a non-binding Letter of Intent and Term Sheet to purchase 100% of a target in the sweepstakes and contest administration space (the "Target"). The non-binding purchase price for the interests is expected to be $1,650,000 USD and is targeting to close February 1, 2022. The Company intends to finance the purchase with current cash on hand but is also exploring additional methods of financing.
The Target administers sweepstakes, games and contests. Services include promotion concept evaluation, official rules development, legal services, state registrations, entry page development, judging services, winner selection, verification and notification, prize fulfillment and tax form issuance.
About Votigo Inc.
Votigo is a leading online promotions company with a Software-as-a-Service platform and professional services that supports premium, full-service solutions and easy-to-use self-service tools for brands and their agencies including Kraft Heinz, State Farm, A+E Networks, General Mills, and Air Canada. Votigo's technology platform allows brands, agencies and enterprises to acquire, engage, and manage their customers across major Social Networks, the Web, and Mobile. Founded in 2006, Votigo has offices located in Boulder, Colorado; San Francisco Bay Area, and Hyderabad, India. Votigo made the Inc. 500 / 5000 list of fastest growing private companies in America in 2013 and 2012.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company, Votigo Inc., the Target, and their respective businesses within the meaning of applicable securities laws, including the business plans and prospects of the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in the Company's public filings under its SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Vancouver, B.C. - November 26, 2021. Plank Ventures Ltd. (CSE:PLNK)("Plank" or the "company") announces it has filed amended and restated unaudited condensed consolidated interim financial statements for the six and nine month periods ended January 31, 2021 and April 30, 2021.
The Company previously announced on November 24, 2021 that it would be filing Amended and Restated Interim Financial Statements and corresponding Amended and Restated Management Discussion and Analysis to adjust the revenue and cost of revenue for prize fulfilment for Laughton Marketing Communications, Inc. dba US Sweepstakes and Fulfillment Company ("US Sweeps"). The Company had determined that US Sweeps was acting as an agent when it provides prize fulfillment services to its clients, and therefore should account for prize fulfillment income on a net basis consistent with IFRS 15. The Company notes that the above adjustments resulted in no change to the amounts of gross profit or net income reported for any of the periods.
The Amended and Restated Interim Financial Statements and corresponding Amended and Restated Management Discussion and Analysis are available on SEDAR at www.sedar.com. The Amended and Restated Interim Financial Statements and corresponding Amended and Restated Management Discussion and Analysis replace and supersede, in entirety, the respective previous interim financial statements and accompanying management discussion and analysis for the six and nine month periods ended January 31, 2021 and April 30, 2021 (collectively, the "Previous Documents"). The Previous Documents should no longer be relied upon.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of Plank are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Plank are those risks described herein and from time to time, in the filings made by Plank with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedar.com under the profiles of Plank.
Vancouver, B.C. - November 24, 2021. Plank Ventures Ltd. (CSE:PLNK)("Plank" or the "company") announces it will refile its interim financial statements for the six and nine month periods ended January 31, 2021 and April 30, 2021, as they are being amended and restated to reflect certain adjustments. The amendments and restatements include an adjustment to the revenue and cost of revenue for prize fulfilment for Laughton Marketing Communications, Inc. dba US Sweepstakes and Fulfillment Company (the "US Sweeps"). The Company has determined that US Sweeps is acting as an agent when it provides prize fulfillment services to its clients, and therefore should account for prize fulfillment income on a net basis consistent with IFRS 15.
Unaudited condensed consolidated interim statements of comprehensive loss for the three and six months ended January 31, 2021 will be refiled to correct the following:
  • -
    sales revenue for the three months ended January 31, 2021 will be adjusted from $1,713,224 to $702,365
  • -
    sales revenue for the six months ended January 31, 2021 will be adjusted from $2,094,187 to $1,083,328
  • -
    hosting charges and other for the three months ended January 31, 2021 will be adjusted from $1,239,430 to $228,572
  • -
    hosting charges and other for the six months ended January 31, 2021 will be adjusted from $1,299,418 to $288,560
Unaudited condensed consolidated interim statements of comprehensive loss for the three and nine months ended April 30, 2021 will be refiled to correct the following:
  • -
    sales revenue for the three months ended April 30, 2021 will be adjusted from $1,568,273 to $914,337
  • -
    sales revenue for the nine months ended April 30, 2021 will be adjusted from $3,662,460 to $1,997,666
  • -
    hosting charges and other for the three months ended April 30, 2021 will be adjusted from $970,692 to $316,755
  • -
    hosting charges and other for the nine months ended April 30, 2021 will be adjusted from $2,270,110 to $605,315
The Company notes that the above adjustments result in no change to the amounts of gross profit or net income reported for any of the periods.
The Company will also refile its amended and restated management's discussion and analysis ("MD&A") for the periods ended January 31, 2021 and April 30, 2021.
Please refer to the amended and restated financial statements and MD&A that will be refiled on SEDAR and expected to be available for review later this week.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of Plank are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Plank are those risks described herein and from time to time, in the filings made by Plank with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedar.com under the profiles of Plank.
Vancouver, B.C. - October 6, 2021. Plank Ventures Ltd. ("Plank" or the "company")(CSE:PLNK) is pleased to announce that it has appointed Carla Matheson as its Chief Financial Officer and Corporate Secretary, effective October 6, 2021.
"We are excited to have Carla join the team. She will be an asset for Plank as we continue to scale. She will also add value to our growing portfolio of b2b SaaS companies who can leverage her operational and venture financing expertise," said Laurie Baggio, CEO of Plank.
Carla Matheson is a Canadian Certified Professional Accountant with 11 years of experience in a variety of industries, specializing in areas of Business Development, M&A, Financial Reporting, Assurance and Advisory. She has spent her career providing dynamic solutions on all aspects of finance, accounting and business-related issues for both public and private companies.
Carla was CFO of Tiny Capital for 4 years, and in that timeframe was responsible for the strategic oversight of the technology-heavy portfolio. This oversight included on-boarding new acquisitions, development of core financial and operational processes as the primary point of contact for portfolio CEOs experiencing periods of high growth.
Throughout her career, Carla has been on both buy- and sell-sides having closed 30+ majority acquisitions, 50+ minority/venture type transactions, raised over $150M in capital via both debt and equity markets and deployed over $60M in capital.
"I am thrilled to be joining the Plank Ventures team," stated Ms. Matheson. "Plank has a strong business model and strategy and I look forward to working with the leadership group to accelerate growth and deliver value to shareholders."
Vancouver, B.C. - September 20, 2021. Plank Ventures Ltd. ("Plank" or the "company")(CSE:PLNK) is pleased to announce that on September 15, 2021, it invested $300,000 into CodeZero Technologies Inc. ("CodeZero"), a Vancouver-based technology company.
CodeZero issued a convertible promissory note in the amount of $300,000 to Plank (the "Note"). The Note is due on November 15, 2022 and provides for 6% annual interest rate. The Note is eligible to be converted into equity of CodeZero at a 20% discount to the next round of financing by CodeZero.
The funds will be used by CodeZero's team to invest in growth and further develop its tools to deploy and manage Kubernetes, which is an open-source container-orchestration system for automating computer application development, scaling and management.
CodeZero is focused on tools for developers. The relatively new standard for cloud orchestration is called Kubernetes and while it is largely recognized as the de facto standard, most developers would rather not use it because of its current complexity. Tens of millions of developers rely on tens of thousands of DevOps engineers to run Kubernetes, which creates huge bottlenecks that affect all technologies using cloud tools, such as AI, ML, IoT and others. CodeZero believes that Kubernetes will not cross the chasm unless the majority of developers can use it. CodeZero enables all developers to deploy to Kubernetes clusters without having to learn Kubernetes, solving a very big and expensive problem.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company, Shop and Shout Ltd., and their respective business within the meaning of applicable securities laws, including the business plans and prospects of the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under its SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Vancouver, B.C. - September 15, 2021. Plank Ventures Ltd. ("Plank" or the "company")(CSE:PLNK) is pleased to announce that on September 10, 2021, it subscribed and paid for 200,000 common shares of Shop and Shout Ltd., a Vancouver-based technology company doing business as Creator (www.creator.co) by way of participating in the non-brokered private placement financing at a price of $1.00 per common share for a total consideration of $200,000.00 (the "Investment"). The Investment will be used to expand Creator's team to further its growth objectives. Plank now owns 2.84% of the issued and outstanding common shares of Creator.
Creator is an ecosystem built to automate and scale Influencer campaigns for brands, while providing a home for micro-Influencers to grow. Creator currently holds the world's largest community of registered micro-Influencers with over 75,000, and growing at over 1000 per week. With this many new micro-Influencer joining, they've become a destination for SME's to drive cost-effective influencer campaigns. Creator is about to roll out a new affiliate network in Q2, which is expected to empower more brands and creators to profit from joining the site. For more information please visit https://creator.co/.
Ms. Melanie Pump resigned from her role as Chief Financial Officer of Plank on August 13, 2021. She was a tremendous asset to Plank and will be sorely missed. We wish Melanie all the best as she moves on to another early-stage company to assist them in setting up their organization for growth. We are reviewing replacement CFO candidates currently.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company, Shop and Shout Ltd., and their respective business within the meaning of applicable securities laws, including the business plans and prospects of the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under its SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Vancouver, British Columbia, June 30, 2021. Plank Ventures Ltd. ("Plank") is pleased to announce that its common shares will commence trading at market open on July 2, 2021 on the Canadian Securities Exchange under the stock symbol "PLNK".
Plank has 17,740,019 common shares, 50,000 stock options and 3,798,667 warrants issued and outstanding.
Plank's listing documents will be posted on the website of the Canadian Securities Exchange under the profile of Plank.
About Plank Ventures Ltd.
Plank Ventures Ltd. is an investment company. We invest and acquire internet software companies that have high growth potential and proven capabilities to sell services into the marketplace. We focus our investments on business-to-business software as a service (b2b SaaS) in a variety of verticals. Our vision is to find entrepreneurs that want to build strong companies with stable recurring revenue streams that we can help scale with capital, experience and our networks.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Vancouver, B.C. - June24, 2021. Plank Ventures Ltd. ("Plank" or the "Company") is pleased to announce that it has now completed the second and final tranche of its non-brokered Private Placement financing (the "Private Placement"), previously announced on April 5, 2021. Under the second tranche of the Private Placement the Company has issued 6,417,334 units (the "Units") for gross proceeds of $1,925,200. Each Unit consists of one (1) common share in the capital of Plank and one-half of one non-transferable share purchase warrant (a "Warrant"). Each whole Warrant entitles its holder to purchase one common share in the capital of the Company at a price of $0.35 for a period of twenty-four (24) months following the issuance date.
Together with the first tranche, the Company has raised a total of $2,279,200.
The proceeds from the Offering will be used for investment capital in accordance with the Company's investment policy and for working capital and general corporate purposes, as applicable. All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with the applicable securities legislation.
Code Consulting Limited, a company controlled by Lance Tracey, who is a "Control Person" of the Company as defined under the securities laws, has purchased 6,000,000 Units. Mr.Tracey's indirect participation in the private placement through Code Consulting Limited is a "related party transaction" within the meaning of Multilateral Instrument 61-101 ("MI 61-101"). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(c) (Distribution of Securities for Cash) and 5.7(1)(b) (Fair Market Value Not More Than $2,500,000) of MI 61-101 in respect of such participation. The securities were distributed for cash, there is no undisclosed material information by the Company, the fair market value of the securities does not exceed $2,500,000, the Company has at least one independent director and all independent directors of the Company approved the issuance of securities. Code Consulting Limited acquired a total of 6,000,000 common shares and 3,000,000 common share purchase warrants. Mr. Tracey indirectly controls 13,007,865 (73.32%) voting common shares of the Company.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company and its business within the meaning of applicable securities laws, including the business plans and prospects of the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under its SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Vancouver, B.C. - May27, 2021. Plank Ventures Ltd. ("Plank" or the "Company") announces termination of an agreement with Ollie Order, Inc ("OllieOrder"), signedonJanuary 3, 2021(the "Agreement"). Pursuant to the terms of the Agreement, Plank intended to invest $350,000 for 195,530 common shares of upon OllieOrder achieving $75,000 in monthly recurring revenue.
OllieOrder is a business-to-business software-as-a-service business that provides web and mobile tools to liquor industry vendors to better manage customers, order logistics, inventory, payments, accounting and government reporting.
On May 25, 2021 the agreement with OlliieOrder was terminated in exchange for a payment of $100,000, which has been received by the Company.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
Cautionary Statement Regarding "Forward-Looking" Information
This release includes forward-looking information within the meaning of Canadian securities laws regarding Plank and its respective businesses. Such statements are based on the current expectations and views of future events of the management of each entity, and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including market conditions, economic factors, management's ability to manage Plank and the equity markets generally.
Although Plank has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Plank does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Vancouver, B.C. – May 4, 2021. Plank Ventures Ltd. ("Plank" or the "Company") is pleased to announce that following its initial announcement dated as of March 2, 2021, the Company has entered into several agreements (collectively, the"Karve Agreement") with Tracksuit Movers Inc. ("TMI"), DueNorth Systems Inc. ("DueNorth") and the two founders of DueNorth to create Karve IT Ltd. ("Karve").
DueNorth is a Canadian tech development company, whose mission is to bridge the gap between teaching and learning by using innovative technologies to decrease screen time and increase people time, managing the process and workflow of learning along the way. DueNorth has developed a cloud-based SaaS platform called DueMorePlus.
Tracksuit Movers Inc dba You Move Me is a franchisor that has a network of customer-centric and a technology forward franchisees-owned moving businesses throughout Canada and the US.
Pursuant to the Karve Agreement, Karve was incorporated under the BCBCA. Due North transferred certain assets, which include technology, to Karve in exchange for 390,000 common shares of Karve. Plank and TMI subscribed for 310,000 and 200,000 common shares of Karve respectively at $1.00 per one common share.
The Company agreed to pay $310,000 for its 310,000 common shares of Karve as follows: $30,000 was paid on the execution of the Karve Agreement; and (b) thereafter Plank agreed to make fourteen monthly payments of $20,000 commencing June 1, 2021, and ending July 1, 2022. Karve agreed to issue its common shares to Plank upon receipt of each payment.
It is anticipated that upon making all the payments by Plank and TMI, Plank will own 310,000, TMI 210,000 and DueNorth 390,000 common shares of Karve, and that there will be a total of 1,000,000 common shares of Karve issued. Karve will be able to grant up to 100,000 stock options, representing 10% of the total issued and outstanding common shares of Karve.
The Karve Agreement stipulates that the board of directors of Karve will consist of three directors. TMI will nominate one director. Plank will nominate one director, and the two founders of DueNorth will nominate one director.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
Cautionary Statement Regarding "Forward-Looking" Information
This release includes forward-looking information within the meaning of Canadian securities laws regarding Plank, TMI, DueNorth, Karve and their respective businesses. Such statements are based on the current expectations and views of future events of the management of each entity, and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including market conditions, economic factors, management's ability to manage Plank, TMI, DueNorth, Karve and the equity markets generally.
Although Plank, TMI, DueNorth and Karve have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Plank, TMI, DueNorth and Karve do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Vancouver, B.C. – April 5, 2021. Plank Ventures Ltd. ("Plank" or the "Company") is pleased to announce that on March 5, 2021, it has subscribed to 117,647 common shares of Shop and Shout Ltd., a Vancouver-based technology company doing business as Creator (www.creator.co) by way of participating in the non-brokered private placement financing arranged by Shop and Shout Ltd., at a price of $0.85 per common share the total consideration of $99,999.95 (the "Investment"). Shop and Shout issued its common shares to Plank on March 17th, 2021. Plank owns 1.1% of the issued and outstanding common shares of Creator.
Creator is an ecosystem built to automate and scale Influencer campaigns for brands, while providing a home for micro-Influencers to grow. Creator currently holds the world's largest community of registered micro Influencers with over 75,000, and growing at over 1000 per week. With this many new micro Influencer joining, they've become a destination for SME's to drive cost-effective Influencer campaigns. Creator is about to roll out a new affiliate network in Q2, which will empower more brands and creators to profit from joining the site. For more information go to (https://creator.co/).
"We're thrilled to have strategic investors like Plank join the round. In addition to capital, their expertise in technology and early stage start-ups will help drive Creator to the Ecosystem of choice by SME's and Creators around the world.", stated Vinod Varma, Co-Founder & CEO of Creator.
Plank further announces a private placement of up to 7,500,000 units for the total proceeds of up to $2,250,000 (the "Private Placement") through the issuance of units priced at $0.30 per unit (the "Units" or "Unit"). Each Unit consists of one (1) common share in the capital of Plank and one-half of one non-transferable share purchase warrant (a "Warrant"). Each whole Warrant entitles its holder to purchase one common share in the capital of the Company at a price of $0.35 for a period of twenty-four (24) months following the issuance date.
On April 5, 2021, Plank closed the first tranche of the Private Placement and issued 1,180,000 Units for the total consideration of $354,000.
The proceeds from the Offering will be used for working capital and general corporate purposes, as applicable. All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with the applicable securities legislation.
Phoenix Ventures Inc., a company controlled by Laurie Baggio, CEO and Director of the Company, has purchased 340,000 Units, and Code Consulting Limited, a company controlled by Lance Tracey, who is a "Control Person" of the Company as defined under the securities laws, has purchased 840,000 Units. Messrs. Baggio and Tracey's indirect participation in the private placement through Phoenix Ventures Inc. and Code Consulting Limited, respectively, is a "related party transaction" within the meaning of Multilateral Instrument 61-101 ("MI 61-101"). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(c) (Distribution of Securities for Cash) and 5.7(1)(b) (Fair Market Value Not More Than $2,500,000) of MI 61-101 in respect of such participation. The securities were distributed for cash, there is no undisclosed material information by the Company, the fair market value of the securities does not exceed $2,500,000, the Company has at least one independent director and all independent directors of the Company approved the issuance of securities. Phoenix Ventures Inc. acquired a total of 340,000 common shares and 170,000 common share purchase warrants. Code Consulting Limited acquired a total of 840,000 common shares and 420,000 common share purchase warrants. Messrs. Baggio and Tracey indirectly control 1,720,104 (14.44%) and 7,236,058 (60.74%) voting common shares of the Company.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company, Shop and Shout, and their respective business within the meaning of applicable securities laws, including the business plans and prospects of the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under its SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Vancouver, B.C. – March 10, 2021. Plank Ventures Ltd. ("Plank" or the "Company") announced today that it has filed amended and restated interim financial statements, together in each case with an amended and restated corresponding management's discussion and analysis (collectively, the "Amended Interim Filings") for three-month period ended October 31, 2020 (the "Financial Period") to correct accounting errors identified below.
The Company's auditor Dale Matheson Carr-Hilton LaBonte LLP ("DMCL") upon its review of the Company's original financial statements for the Financial Period, at the request of the Company, identified an error in the accounting for the October 2020 purchase of 777,777 Series B Convertible Preferred Shares of Votigo Inc. The correction of this error resulted in an increase to non-controlling interest of $161,893 and a decrease to retained earnings of $161,893. In addition, the fair value of the purchase option was reduced by $23,482 to account for the reduction it its fair value with a corresponding increase in net loss for the period. The Amended Interim Filings now rectify that error and the corresponding management's discussion and analysis for the Financial Period was amended and to reflect the same.
The Amended Interim Filings are available under the Company's profile on SEDAR (www.sedar.com). Each of the Amended Interim Filings replace and supersede the respective previously filed original financial statements and corresponding management's discussion and analysis. The previously filed original financial statements and management's discussion and analyses should be disregarded.
About Plank Ventures Ltd.
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 604-428-7050

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