Vancouver, BC – The press wire – September 20, 2021. Plank Ventures Ltd. (” Plank ” or the “Company” (CSE: PLNK) (CNSX: PLNK.CN) is pleased to announce that on September 15, 2021, it invested $ 300,000 in CodeZero Technologies Inc. (âCodeZeroÂ»), A Vancouver-based technology company.
CodeZero issued a convertible promissory note in the amount of $ 300,000 to Plank (the “To note”). The note matures on November 15, 2022 and carries an annual interest rate of 6%. The ticket can be converted into equity of CodeZero with a 20% discount on the next round of financing by CodeZero.
The funds will be used by the CodeZero team to invest in growth and further develop its tools for deploying and managing Kubernetes, an open source container orchestration system to automate development, scale-up and the management of computer applications.
CodeZero focuses on tools for developers. The relatively new standard for cloud orchestration is called Kubernetes and although it is widely recognized as the de facto standard, most developers prefer not to use it due to its current complexity. Tens of millions of developers rely on tens of thousands of DevOps engineers to run Kubernetes, creating huge bottlenecks that affect all technologies using cloud tools, such as AI, ML , IoT and others. CodeZero believes that Kubernetes won’t cross the chasm unless the majority of developers can use it. CodeZero allows all developers to deploy on Kubernetes clusters without having to learn Kubernetes, which solves a very important and costly problem.
About Plank Ventures Ltd.
Plank is an investment firm targeting investments and business opportunities in the field of technology, focusing on young start-ups that have already developed a customer base and income base and were seeking financing for their expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and director
For more information contact:
Laurie Baggio, CEO Tel. : 604-805-7498
All statements contained in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company, CodeZero and their respective activities within the meaning of applicable securities laws, including the business plans and outlook of the Company. The company to brings forward-looking statements for the purpose of conveying information about current expectations and related plans for the future and readers are cautioned that such statements may not be appropriate for other purposes. By their nature, this information is subject to inherent risks and uncertainties which 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 the assumptions may not be correct and that the objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include, without limitation, those identified and reported in of the society public deposits under his SEDAR profile at www.sedar.com. Even if the company Has attempted to identify material factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause the actions, events or results to not be those anticipated, estimated or planned. 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 disavows any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.