Vancouver, British Columbia – July 30, 2025 – TheNewswire - Veji Holdings Ltd. (CSE:VEJI.X) (OTC Pink: VEJIF) (“Veji” or the “Company”) is pleased to announce the closing of its previously disclosed asset acquisition (the “FIHO Transaction”) from Future Investment Holding OÜ (“FIHO”), as announced on March 18, 2025.

Transaction Overview

When the FIHO Transaction was announced, trading in the common shares of Veji (the “Common Shares”) was halted on March 18, 2025 in compliance with the policies of the Canadian Securities Exchange (the "CSE"), as the proposed FIHO Transaction constituted a Fundamental Change under the CSE’s policies, pending the review of the transaction by the CSE and satisfaction of the conditions of the CSE for resumption of trading. Upon satisfaction of all CSE conditions for the resumption of trading, the Company will file a final CSE Listing Statement describing the Company and its business following completion of the FIHO Transaction, and trading in the Common Shares will resume.

Under the terms of the FIHO Transaction, the Company acquired 8,750 grams of graphene and Italian patent #102023000020769 (together, the “FIHO Assets”). The total consideration paid by Veji for the FIHO Assets consisted of 4,200,000 Common Shares (each, a “Consideration Share”) issued at a deemed price of $0.50 per Consideration Share, for an aggregate value of $2.1 million.

The Consideration Shares are subject to a statutory hold period of four (4) months and one (1) day under applicable Canadian securities laws. No finder's fees were paid in connection with the FIHO Transaction. In accordance with CSE policies, certain Common Shares held by insiders, including Consideration Shares, are subject to escrow provisions whereby 10% will be released to the such holders on the date that trading in the Common Shares recommences on the CSE (the “First Release Date”), and an additional 15% will be released to the Escrow Shareholders on each of the dates that are 6, 12, 18, 24, 30 and 36 months after the First Release Date, or at any time prior thereto with the consent of the applicable regulatory authorities.

In connection with the closing of the FIHO Transaction, the Company has entered into a consulting agreement with Mr. Michael Turner (the “Consulting Agreement”), principal of FIHO and a new insider of the Company, as described below. The Consulting Agreement is considered a material agreement for the purposes of Canadian securities laws, as Mr. Turner will provide specialized scientific and strategic services in support of the Company's commercialization of the FIHO Assets, which form the foundation of the Company’s proposed new line of business.

The Consulting Agreement is effective August 1, 2025, and has an initial term of two years. Under its terms, Mr. Turner will receive a consulting fee of $3,000 per month. A copy of the Consulting Agreement, will be filed under the Company’s profile on SEDAR+ (www.sedarplus.ca), subject to redaction of applicable confidential provisions.

 

Capitalization

Upon completion of the FIHO Transaction, former shareholders of Veji hold approximately 74.62% of the issued and outstanding Common Shares, while FIHO shareholders (including Mr. Turner) hold approximately 25.38%, on an undiluted basis.

Early Warning Disclosure

As a result of the FIHO Transaction, Mr. Michael Turner acquired 2,100,000 Common Shares, representing approximately 12.69% of the issued and outstanding shares of the Company. Mr. Turner acquired the shares for investment purposes and may evaluate his investment on an ongoing basis, depending on various factors such as market conditions and Company performance.

A copy of Mr. Turner’s Early Warning Report will be available on SEDAR+ (www.sedarplus.ca) under the Company’s profile. For further information, please contact the Company at 6th Floor – 905 West Pender Street, Vancouver, BC V6C 1L6, or by telephone at 604-687-2038.

Proposed Name Change

The Company also announces its intention to change its corporate name from “Veji Holdings Ltd.” to “Plaid Technologies Inc.” to better align with its name with its new strategic focus as a result of the FIHO Transaction. In connection with the proposed name change, the Company has applied  to change its ticker symbol on the CSE from “VEJI” to “STIF”. The name change remains subject to final CSE approval and the filing of all required documentation.

New CUSIP and ISIN numbers will be announced once assigned. No action is required from shareholders in connection with the name change. All existing share certificates and DRS statements will remain valid.

About the Company

Veji Holdings Ltd. is a reporting issuer in Canada listed on the Canadian Securities Exchange (CSE: VEJI.X) and OTC Pink (VEJIF)

On Behalf of the Board of Directors

“Guy Bourgeois”

Guy Bourgeois
Director & Chief Executive Officer
Telephone: 1-800-585-7517
Email: info@plaidtechnologiesinc.com

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. More particularly and without limitation, this press release contains forward-looking information concerning statements with respect to future plans of the Company, the development, operation and commercialization of FIHO Assets, and final approval of the FIHO Transaction. The Company cautions that all forward-looking information is inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning FIHO Assets, the timely receipt of all required approvals (as applicable), including the final acceptance of the CSE, the trading date of the Common Shares, as well as other risks, uncertainties, and assumptions, including but not limited to assumptions regarding prevailing market conditions and general business, economic, competitive, political and social uncertainties to develop the forward-looking information in this press release. 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 information. Accordingly, readers should not place undue reliance on forward-looking information.

Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and includes those risks set out in the Company's management’s discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward- looking information, other than as required by applicable securities laws.

Forward-looking information in this news release also involves material risks and uncertainties specific to the FIHO Assets, including risks related to the early-stage nature of the acquired technology, uncertainty regarding the scalability and commercial viability of the graphene and associated patent, the possibility of intellectual property protection challenges, and the need to comply with applicable regulatory frameworks in Canada and other jurisdictions. There is no assurance that the Company will be successful in developing or commercializing products based on the FIHO Assets.

The Canadian Securities Exchange has not reviewed, approved, or expressed an opinion on the business plan or proposed activities described in this news release.