Shelfie-Tech Announces $2 Million Private Placement to Advance Retail Inventory Technology

Shelfie-Tech Ltd. (CSE: SHLF) (OTCQB: SHLFF) has announced plans to raise up to USD $2 million through a non-brokered private placement, offering up to 2,000,000 common shares at USD $1.00 per share. The company, which specializes in retail inventory management technology, will use the proceeds for corporate purposes, research and development, potential acquisitions, and working capital requirements. This funding initiative comes at a time when retail automation and inventory optimization have become increasingly critical for large grocery stores and supermarkets facing operational challenges.

The private placement includes provisions for finders' fees of up to 8% payable to eligible finders in accordance with Canadian Securities Exchange policies. All securities issued through this offering will be subject to a standard four-month-plus-one-day hold period under applicable securities laws, with closing contingent upon customary regulatory approvals. The company's focus on retail technology solutions positions this funding round as strategically important for scaling its operations and technological capabilities in a competitive market.

Shelfie-Tech's core business revolves around providing shelf inventory management technological solutions using patent-pending technology that includes a robotic retail shelf monitoring system. The company's proprietary software utilizes machine learning and image processing algorithms to automatically optimize shelf inventory management, addressing a significant pain point for large retail operations where out-of-stock items and inventory inaccuracies can lead to substantial revenue losses. More information about the company's technology and services can be found at https://shelfietech.com/.

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This funding initiative represents a significant step for Shelfie-Tech as it seeks to expand its market presence and technological capabilities in the rapidly evolving retail automation sector. The retail industry continues to face challenges related to inventory management, with studies showing that poor shelf inventory management can result in significant sales losses and operational inefficiencies. Shelfie-Tech's approach to addressing these challenges through automated monitoring and machine learning algorithms could potentially transform how retailers manage their shelf inventory and optimize their supply chain operations.