News

Here is a compendium of our latest news...

Plank Announces Borrowing $300,000
Vancouver, B.C. – February 8th, 2024, Plank Ventures Ltd. ("Plank" or the "Company") (CSE:PLNK) announces it has borrowed $250,000 CAD (the "Loan from Code") from Code Consulting Ltd ("Code") and has issued a promissory note to Code. The Loan from Code bears interest at an annual rate of 12% and matures on June 30th, 2024, at which date the principal and interest are due in full.
The Company also announces that it has borrowed $50,000 CAD (the "Loan from Phoenix") from Phoenix Ventures Inc. ("Phoenix"). The Loan from Phoenix carries 12% interest per annum and matures on June 30th, 2024, at which date the principal and interest are due in full. Plank issued a promissory note to the Company with respect to the Loan from Phoenix.
The Loan from Code and the Loan from Phoenix are related party transactions pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Mr. Laurie Baggio is the beneficial owner of Phoenix, a director of Plank and a control person of Phoenix and Plank, and, as such, Mr. Baggio has abstained from voting with respect to the Loan from Phoenix to Plank. Mr. Lance Tracey is the beneficial owner of Code, and a control shareholder of Plank.
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 prescribed by section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.
There is no undisclosed material information by Plank and Plank has at least one independent director, and the independent directors have approved the Loan from Code and the Loan from Phoenix.
The loans from Code and Phoenix will be used for general working capital purposes 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: 778 300-7565
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 profile of Plank. Investors must not rely on the forward-looking statements.
Plank Announces Results of its Annual General and Special Meeting
Vancouver, B.C. – January 15th, 2024 – 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 29, 2023 (the "Meeting").
The matters before the Meeting are described more fully in the management information circular dated November 24, 2023 (the "Circular"). The shareholders voted to fix the number of directors at three, re-elect Laurie Baggio, Bradley Carlyle and Brian O’Neill to the board of directors of the Company, and to appoint Davidson and Company 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: 778 300-7565
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.
Extension of Loans Payable
Vancouver, B.C. - December 29th, 2023, Plank Ventures Ltd. ("Plank" or the "Company")(CSE:PLNK) announces that it plans to extend the maturity of existing loans the Company has with Lanebury Growth Capital Ltd ("Lanebury"), Phoenix Ventures Inc ("Phoenix"), Cascadia Junk Removals Inc and Code Consulting Limited.
Extension of Repayment Terms of Loans from Lanebury Growth Capital Ltd, Phoenix Ventures Inc, Cascadia Junk Removals Inc and Code Consulting Limited.
The Company has entered into agreement with Lanebury Growth Capital Ltd. that on December 29th, 2023, they will extend a loan which was originally due to mature on December 31st, 2023 to mature on June 30th, 2024. The interest rate of the loan shall remain at 12% annual. The loan was entered into on September 30th, 2023 for the original principal amount of $4,308,251 CAD.
The Company has also entered into agreement with Phoenix Ventures Inc. that on December 29th, 2023, they will extend a loan which was originally due to mature on December 31st, 2023 to mature on June 30th, 2024. The interest rate of the loan shall remain at 12% annual. The loan was entered into on September 30th, 2023 for the original principal amount of $216,232 CAD.
The Company has also entered into agreement with Cascadia Junk Removals Inc. that on December 29th, 2023, they will extend a loan which was originally due to mature on December 31st, 2023 to mature on June 30th, 2024. The interest rate of the loan shall remain at 12% annual. The loan was entered into on August 30th, 2018 for the original principal amount of $300,000 USD.
The Company has also entered into agreement with Code Consulting Limited that on December 29th, 2023, they will extend a loan which was originally due to mature on December 31st, 2023 to mature on June 30th, 2024. The interest rate of the loan shall increase to 12% annual. The loan was entered into on December 13th, 2022 for the original principal amount of $200,000 CAD.
The Loans from Cascadia Junk Removals Inc., Phoenix Ventures Inc., Code Consulting Limited and Lanebury Growth Capital Ltd. are related party transactions pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Mr. Laurie Baggio is the beneficial owner of Cascadia Junk Removals Inc and Phoenix Ventures Inc, a director of Plank and a control person of Cascadia, Phoenix and Plank, and, as such, Mr. Baggio has abstained from voting with respect to the Loans from Cascadia and Phoenix to Plank. Mr. Lance Tracey is the beneficial owner of Code, and a control person of Plank and Lanebury Growth Capital Ltd.
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 prescribed by section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.
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: 778 300-7565
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 profile of Plank. Investors must not rely on the forward-looking statements.
Combination and Extension of Loans Payable
Vancouver, B.C. – October 3rd, 2023, Plank Ventures Ltd. ("Plank" or the "Company") (CSE:PLNK) announces that it plans to combine and extend the maturity of existing loans the Company has with Lanebury Growth Capital Ltd ("Lanebury") and Phoenix Ventures Inc ("Phoenix"). Further to this, The Company announces extension of the due date on existing loans with Cascadia Junk Removals Inc and Code Consulting Limited.
Combination of Loans from Lanebury Growth Capital Ltd. and extension of the maturity date:
The Company has entered into an agreement with Lanebury Growth Capital Ltd. to combine the following two existing loans, as of September 30th, 2023, into a single new promissory note:
  • -
    Loan with the principal amount of $3,673,028 CAD carrying 10% interest originally entered on January 1, 2023;
  • -
    Loan with the principal amount of $350,000 CAD carrying 12% interest originally entered on June 22nd, 2023;
The maturity date of these two loans was September 30th, 2023. The due date of the new combined loan shall be December 31, 2023 carrying 12% interest.
The above combination and extension of the repayment terms of the loans from Lanebury Growth Capital Ltd. are related party transactions pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") because Mr. Lance Tracey is a control person of both Plank and Lanebury Growth Capital Ltd. 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 prescribed by section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.
Combination of Loans from Phoenix Ventures Inc. and extension of the maturity date:
The Company has entered into an agreement with Phoenix Ventures Inc. to combine the following three existing loans, as of September 30th, 2023, into a single new promissory note:
  • -
    Loan with the principal amount of $100,000 USD carrying 10% interest originally entered on September 2nd, 2022;
  • -
    Loan with the principal amount of $50,000 CAD carrying 10% interest originally entered on December 13th, 2022;
  • -
    Loan with the principal amount of $50,000 CAD carrying 10% interest originally entered on June 20th, 2023;
The maturity date of these three loans was September 30th, 2023. The due date of the new combined loan shall be December 31, 2023 carrying 12% interest.
Company's CEO Laurie Baggio is the owner of Phoenix. He abstained from voting on the extensions of the repayment terms of these two loans. The extensions of the repayment terms of these three loans are related party transactions pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). 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 prescribed by section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.
Extension of Repayment Terms of Loans from Cascadia Junk Removals Inc. and Code Consulting Limited.
The Company has also entered into agreement with Cascadia Junk Removals Inc., US C-Corp, that on September 30th, 2023, they will extend a loan which was originally due to mature on September 30th, 2023 to mature on December 31st, 2023. The interest rate of the loan shall increase to 12% annual. The loan was entered into on August 30th, 2018 for the original principal amount of $300,000 USD and carried an interest rate of 10%.
The Company has also entered into agreement with Code Consulting Limited., that on September 30th, 2023, they will extend a loan which was originally due to mature on September 30th, 2023 to mature on December 31st, 2023. The interest rate of the loan shall increase to 12% annual. The loan was entered into on December 13th, 2022 for the original principal amount of $200,000 CAD and carried an interest rate of 10%.
The Loan from Cascadia Junk Removals Inc and the Loan from Code are related party transactions pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Mr. Laurie Baggio is the beneficial owner of Cascadia Junk Removals Inc, a director of Plank and a control person of Cascadia and Plank, and, as such, Mr. Baggio has abstained from voting with respect to the Loan from Cascadia to Plank. Mr. Lance Tracey is the beneficial owner of Code, and a control shareholder of Plank.
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 prescribed by section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.
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: 778 300-7565
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 profile of Plank. Investors must not rely on the forward looking statements.
Plank Announces Issuance of Promissory Note
Vancouver, B.C. - June 23rd, 2023. Plank Ventures Ltd. ("Plank" or the "Company") (CSE:PLNK) announces it has borrowed $350,000 CAD (the "Loan from Lanebury") from Lanebury Growth Capital Ltd ("Lanebury"). and has issued a promissory note to Lanebury. The Loan from Lanebury bears interest at an annual rate of 12% and matures on September 30th, 2023 at which date the principal and interest are due in full.
The Company also announces that it has borrowed a $50,000 CAD (the "Loan from Phoenix") from Phoenix Ventures Inc. ("Phoenix"). The Loan from Phoenix carries 10% interest per annum and matures on September 30th, 2023, at which date the principal and interest are due in full. Plank issued a promissory note to the Company with respect to the Loan from Phoenix.
The Loan from Phoenix and the Loan from Lanebury are related party transactions pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Mr. Laurie Baggio is the beneficial owner of Phoenix, a director of Plank and a control person of Phoenix and Plank, and, as such, Mr. Baggio has abstained from voting with respect to the Loan from Phoenix to Plank. Mr. Lance Tracey is a director, a control person of Lanebury, and a control shareholder of Plank.
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 prescribed by section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.
There is no undisclosed material information by Plank and Plank has at least one independent director, and the independent directors have approved the Loan from Phoenix and the Loan from Lanebury.
The loans from Phoenix and Lanebury will be used for general working capital purposes 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.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
"Laurie Baggio"
CEO and Director
For additional information please contact:
Laurie Baggio, CEO Tel: 778 300-7565
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 profile of Plank. Investors must not rely on the forward looking statements.
Plank Signs Loan Agreement with Karve IT Ltd
Vancouver, B.C. – March 28th, 2023. Plank Ventures Ltd. ("Plank" or the "Company") (CSE:PLNK) announces that it has entered into a loan agreement with Karve IT Ltd. (“Karve IT”) for total proceeds of $150,000 CAD, to be issued in two equal distributions of $75,000. The first distribution is due upon signing, the second is available to Karve IT on request. The loan is payable on demand, bears interest at a monthly rate of 2% compounded monthly, and can be pre-paid in full. The loan will be used to fund general working capital requirements of Karve IT.
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: 778 300-7565
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.
Plank Announces Results of its Annual General and Special Meeting
Vancouver, B.C. – January 16th, 2023 – 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, 2022 (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, 2022 (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 contact:
Laurie Baggio, CEO Tel: 778 300-7565
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.
Combination and Extension of Loans Payable
Vancouver, B.C. - December 22nd, 2022 Plank Ventures Ltd. ("Plank" or the "company") (CSE:PLNK) announces that it plans to combine and extend the maturity of existing loans the Company has with Lanebury Growth Capital Ltd ("Lanebury"). Further to this, The Company announces extension of the due date on existing loans with Cascadia Junk Removals Inc and Phoenix Ventures Inc.
Combination of Loans from Lanebury Growth Capital Ltd. and extension of the maturity date:
The Company has entered into an agreement with Lanebury Growth Capital Ltd. to combine the following four existing loans, as of December 31st, 2022, into a single new promissory note:
  • -
    Loan with the principal amount of $600,000 CAD carrying 10% interest originally entered on September 2nd, 2022:
  • -
    Loan with the principal amount of $1,300,000 CAD carrying 10% interest originally entered on July 12th, 2022:
  • -
    Loan with the principal amount of $400,000 USD carrying 10% interest originally entered on September 16th, 2020: and
  • -
    Loan with the principal amount of $700,000 CAD carrying 10% interest originally entered on January 29th, 2019.
The maturity date of these four loans was December 31st, 2022. The due date of the new combined loan shall be September 30, 2023.
The above combination and extension of the repayment terms of the loans from Lanebury Growth Capital Ltd. are related party transactions pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") because Mr. Lance Tracey is a control person of both Plank and Lanebury Growth Capital Ltd. 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 prescribed by section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.
Extension of Repayment Terms of Loans from Cascadia Junk Removals Inc. and Phoenix Ventures Inc.
The Company has also entered into agreement with Cascadia Junk Removals Inc., US C-Corp, that on December 31st 2022, they will extend a loan which was originally due to mature on December 31st, 2022 to mature on September 30, 2023. The loan carries an interest rate of 10%, was entered into on August 30th, 2018 for the original principal amount of $300,000 USD.
The Company has also entered into agreement with Phoenix Ventures Inc., that on December 31st, 2022 that they to wish to extend a loan which was originally due to mature on December 31, 2022 to mature on September 30, 2023. The loan carries an interest rate of 10%, was entered into on September 2nd, 2022 for the original principal amount of 100,000 CAD.
Company's CEO Laurie Baggio is the owner of both Phoenix and Cascadia Junk Removals Inc. He abstained from voting on the extensions of the repayment terms of these two loans. The extensions of the repayment terms of these two loans are related party transactions pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). 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 prescribed by section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.
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: 778 300-7565
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 profile of Plank. Investors must not rely on the forward looking statements.
Plank Announces Investment into Creator.co / Shop and Shout Ltd.
Vancouver, B.C. - December 5th, 2022. Plank Ventures Ltd. ("Plank" or the "Company") (CSE:PLNK) is pleased to announce that they have invested $200,000 CAD into Shop and Shout Ltd, a Vancouver-based technology company doing business as Creator.co ("Creator").
The follow-on investment is part of the original agreement from August 30th, 2022, whereby the Company agreed to a second loan of $200,000 CAD in the form of a convertible promissory note (the "Note") if Creator were to achieve set monthly recurring revenue targets, directly related to its main software as a service business. The monthly reccurring revenue amount has now been reached by Creator. The convertible promissory note carries 10% annual interest rate and matures on August 30th, 2023 (the "Maturity Date"). Upon maturity, the Note is convertible into common shares of Creator at the election of the holder at a conversion price equal to: (i) the Valuation Cap divided by (ii) the aggregate number of common shares of Creator outstanding as of the Maturity Date. The Note is subject to additional conversion and maturity features as follows:
  • a) in the event that, at any time when this Note remains outstanding, Creator completes equity financing resulting in the issuance and sale of its equity securities (the "Qualified Securities") for the proceeds of at least $1,000,000 (a "Qualified Financing"), excluding any proceeds resulting from conversion of Notes, then the outstanding principal and accrued Interest under this Note shall automatically convert into Qualified Securities at a conversion price equal to the lesser of: (a) 80% of the price per share paid upon Qualified Financing, or (b) price per share equal to: (ii) the valuation cap divided by (ii) the aggregate number of common shares of Creator outstanding immediately prior to the initial closing of the Qualified Financing. The Qualified Securities to be issued upon conversion of the Note shall be entitled to the same rights and subject to the same obligations provided in the purchase agreement entered into upon Qualified Financing.
  • b) in the event Creator proposes to effect (x) the acquisition of Creator by means of any transaction or series of related transactions (including, without limitation, any reorganization, merger or consolidation, but not including a bona fide equity financing transaction) that results in the transfer of 50% or more of the outstanding voting power of Creator, or (y) the sale or transfer of all or substantially all of Creator's assets other than to an affiliate of Creator (either, a "Corporate Transaction") prior to the conversion or repayment in full of this Note, then at Plank's election: (x) the Note will be converted into common shares of Creator at a conversion price equal to: the valuation cap divided by the aggregate number of common shares of Creator outstanding immediately prior to the closing of the Corporate Transaction (assuming conversion of all outstanding securities convertible into common shares and exercise of all outstanding options and warrants, including all common shares of reserved and available for future grant under any equity incentive or similar plan of Creator but excluding equity securities of Creator issuable upon the conversion of convertible notes, or other indebtedness), or (y) Creator will pay Plank an aggregate amount equal to the outstanding principal and unpaid accrued interest as of the closing of the Corporate Transaction.
About Creator.co
Creator.co is a globally recognized top 5 Influencer marketing platform originally built to automate and scale influencer campaigns for brands. Creator has evolved into an ecosystem for brands and creators to collaborate, grow, and earn more - together. Over 140,000 influencers have registered to the platform so far, and over 6,000 new creators are signing up monthly to the platform.
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: 778 300-7565
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.
Plank Announces an Investment into Sitemax Systems Inc.
Vancouver, B.C. – November 3rd, 2022. Plank Ventures Ltd. ("Plank" or the "Company") (CSE:PLNK) announces that they have committed to a $177,200 CAD investment into Sitemax Systems Inc ("Sitemax") in the form of a convertible promissory note (The "Note"). The Note carries a simple interest rate of 8% per annum ("Interest") and matures two years from initial closing on October 27, 2024 ("Maturity"). Interest accrued is due and payable annually on the anniversary date of the Note. The Note is secured by the general security agreement against the assets of Sitemax.
The Note includes an automatic conversion clause whereby it converts into equity securities of Sitemax upon significant financing transaction defined as the issuance and sale of preferred shares at a value of no less than $15,000,000 CAD pre-money resulting in aggregate gross proceeds of no less than $3,000,000 CAD to Sitemax. Additionally, the Note includes an optional conversion clause whereby the Company may elect to convert the Note into the most senior class of shares upon change of control or convert into Class 1 Common shares of Sitemax at anytime prior to maturity. The valuation cap used in determining the conversion price is $7,500,000 CAD pre-money.
The Company will provide the investment amount of $177,200 CAD via termination of currently outstanding loans receivable from Sitemax, in particular: the loan initiated on March 16th, 2022 with the combined principal and interest balance of $113,667 CAD, and the loan initiated on September 29th, 2022 with the combined principal and interest balance of $63,533 CAD. The Company will roll these promissory note receivables to make up the $177,200 CAD. There is now no further indebtedness due to Plank from Sitemax.
The proceeds of the investment will be used for operations, sales and marketing, product development, hiring core team members, business development and other general working capital purposes of 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: 778 300-7565
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.
Plank Announces Issuance of Promissory Note and Investment into Creator.co / Shop and Shout Ltd.
Vancouver, B.C. – September 2nd, 2022. Plank Ventures Ltd. ("Plank" or the "Company") (CSE:PLNK) announces it has borrowed $600,000 CAD (the "Loan from Lanebury") from Lanebury Growth Captial Ltd ("Lanebury") and issued a promissory note to Lanebury. The Loan from Lanebury bears interest at an annual rate of 10% and matures on December 31, 2022, at which date the principal and interest are due in full.
The Company also announces that it has borrowed a $100,000 CAD (the "Loan from Phoenix") from Phoenix Ventures Inc. ("Phoenix"). The Loan from Phoenix carries 10% interest per annum and matures on December 31, 2022, at which date the principal and interest are due in full. Plank issued a promissory note to the Company with respect to the Loan from Phoenix.
The Loan from Phoenix to Plank are related party transactions pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Mr. Laurie Baggio is the beneficial owner of Phoenix, a director of Plank and a control person of Phoenix and Plank, and, as such, Mr. Baggio has abstained from voting with respect to the Loan from Phoenix to Plank.
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 prescribed by section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101.
There is no undisclosed material information by Plank and Plank have at least one independent director, and the independent director has approved the Loan from Phoenix to Plank.
$300,000 of the loan from Phoenix and Lanebury will be used to invest in Shop and Shout Ltd, a Vancouver-based technology company doing business as Creator.co ("Creator"). The remaining $400,000 will be used for working capital for the Company.
On August 30th, 2022, Plank has committed to a $300,000 CAD investment in Creator in the form of a convertible promissory note carrying 10% annual interest rate upon closing (The "Note"). The principal and interest on the Note is due on August 30th, 2023 (The "Maturity Date"). Upon maturity, the Note is convertible into common shares of Creator at the election of the holder at a conversion price equal to: (i) the Valuation Cap divided by (ii) the aggregate number of common shares of Creator outstanding as of the Maturity Date. The Note is subject to additional conversion and maturity features as follows:
  • a) In the event that, at any time when this Note remains outstanding, Creator completes equity financing resulting in the issuance and sale of its equity securities (the "Qualified Securities") for the proceeds of at least $1,000,000 (a "Qualified Financing"), excluding any proceeds resulting from conversion of Notes, then the outstanding principal and accrued Interest under this Note shall automatically convert into Qualified Securities at a conversion price equal to the lesser of: (a) 80% of the price per share paid upon Qualified Financing, or (b) price per share equal to: (ii) the valuation cap divided by (ii) the aggregate number of common shares of Creator outstanding immediately prior to the initial closing of the Qualified Financing. The Qualified Securities to be issued upon conversion of the Note shall be entitled to the same rights and subject to the same obligations provided in the purchase agreement entered into upon Qualified Financing.
  • b) In the event Creator proposes to effect (x) the acquisition of Creator by means of any transaction or series of related transactions (including, without limitation, any reorganization, merger or consolidation, but not including a bona fide equity financing transaction) that results in the transfer of 50% or more of the outstanding voting power of Creator, or (y) the sale or transfer of all or substantially all of Creator's assets other than to an affiliate of Creator (either, a "Corporate Transaction") prior to the conversion or repayment in full of this Note, then at Plank's election: (x) the Note will be converted into common shares of Creator at a conversion price equal to: the valuation cap divided by the aggregate number of common shares of Creator outstanding immediately prior to the closing of the Corporate Transaction (assuming conversion of all outstanding securities convertible into common shares and exercise of all outstanding options and warrants, including all common shares of reserved and available for future grant under any equity incentive or similar plan of Creator but excluding equity securities of Creator issuable upon the conversion of convertible notes, or other indebtedness), or (y) Creator will pay Plank an aggregate amount equal to the outstanding principal and unpaid accrued interest as of the closing of the Corporate Transaction.
In addition to the convertible promissory note, Plank is entitled to 100,000 share purchase warrants for the subscription price of $100 where each warrant provides Plank the right to purchase 1 Class A Common Share of Creator at $0.50 per Warrant Share for a period of two years from the date of issuance.
About Creator.co
Creator.co is a globally recognized top 5 Influencer marketing platform originally built to automate and scale influencer campaigns for brands. Creator has evolved into an ecosystem for brands and creators to collaborate, grow, and earn more - together. Over 140,000 influencers have registered to the platform so far, and over 6,000 new creators are signing up monthly to the platform.
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: 236 705-5136
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.
Plank Announces Issuance of Promissory Note
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.
Plank Announces Stock Option Grants
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.
Plank Announces that its Subsidiary Votigo, Inc. has Acquired Promotion Activators Management, LLC
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.
Plank Announces a $300,000 CAD SAFE Subscription Agreement with Karve IT Ltd.
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.
Plank Signs Loan Agreement with Sitemax Systems Inc.
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.
Plank Announces Results of its Annual General and Special Meeting
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.
Plank Announces that its Subsidiary Votigo Inc. has Signed a Non-Binding Letter of Intent and Term Sheet to Purchase 100% of a Company in the Sweepstakes Space
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.
Plank Ventures Files Amended and Restated Interim Financial Statements
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.
Plank Ventures to Restate Quarterly Financial Statements
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.
Plank Announces Appointment of New CFO and Corporate Secretary
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."
Plank Announces Investment into CodeZero Technologies Inc.
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.
Plank Announces Further Investment in Creator.co / Shop and Shout Ltd. and Resignation of Chief Financial Officer
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.
Plank Ventures Ltd. Announces Listing of its Common Shares on the Canadian Securities Exchange
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.
Plank Announces Closing of the Second Tranche of its oversubscribed Private Placement Financing
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.
Plank Terminates Agreement with Ollie Order
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.
Plank Signs Definitive Agreement to Acquire Assets of DueNorth Systems Inc.
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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