BnSellit Technology Inc. provides an update to operations and announces the second closure of the private placement

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

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

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

“Domestic leisure travel is returning to pre-pandemic levels in 2022, which is great news for hotel operators. However, the pandemic has created serious staffing problems in many hotels that serve domestic leisure travelers. The best guest experience remains the most important. Problem facing Hotel operators. Many of them are looking for the technology to address their staffing problems, a technology that can replace many of the activities performed by hotel staff while maintaining the Highest level of services. We are extremely excited to see a high level of interest from hotels of all sizes and expect hotel registrations and room counts to accelerate in the coming months. ” – Tony Comparelli

In addition to the transaction fees earned from sales, rental and experience bookings, BnSellit will charge monthly subscription fees to hotels that access the Full Enterprise platform starting at $ 99 per month per hotel.

Announcement of the second closure of the private placement

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

The Convertible Bonds accrue interest from the closing date at 10% per annum, payable monthly in arrears on 30th day of each calendar month, starting from 30 July 2022. The Convertible Bonds have a maturity of 18 months from the date of issue (the “Expiration date“). The Convertible Bonds are convertible, at the option of the holders, into ordinary Class A shares of the Company (the”Actions“) at a conversion price of $ 0.25 per Share (the”Conversion price“) at any time prior to the close of business on the Maturity Date.

If the volume weighted average price of the Shares on the Canadian Securities Exchange (the “CSE“) for 10 consecutive trading days equal to or greater than $ 0.60, the Company may force the conversion of any principal amount of the Convertible Bonds at the Conversion Price upon written notice to the holders of the Convertible Bonds 15 days in advance. , in accordance with the terms of conversion.

The securities issued for a aggregate nominal amount of $ 46,000 and $ 90,000 under the Offer are subject to the applicable legal holding period ending October 31, 2022 and November 5, 2022, respectively. The Offer is subject to the approval of the CSE.

For more information, please contact:

Antonio Comparelli, Chief Executive Officer
Email: [email protected]
Tel: 416-720-8677

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

Neither the CSE nor its regulatory service provider (as that term is defined in the CSE’s policies) accepts responsibility for the adequacy or accuracy of this version.

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

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