VerifyMe Signs Commercial Technology License Agreement with Niagara Label
Niagara Prints Labels for Cannabis Industry Brand Owners
Rochester, New York--(Newsfile Corp. - April 25, 2019) - VerifyMe, Inc. (OTCQB: VRME) (the "Company"), a digital security, authentication and tracking technology solutions provider, and Niagara Label ("Niagara"), a western New York label manufacturer with 33 years experience, today announced the signing of a license agreement for Niagara to incorporate VerifyMe's brand protection technology solutions to brand owners throughout the United States.
Niagara is headquartered near Buffalo N.Y. and is strongly positioned and conveniently located to the Northeast, Midwest and Mid-Atlantic regions, specializing in the food & beverage markets.
Niagara works with brand owners in the following industries:
- Wine, Beer & Spirits
- Food & Beverage
- Health & Beauty
VerifyMe's technologies are approved and supported by Hewlett-Packard ("HP") Indigo Series 3 digital printing presses. HP markets VerifyMe's security invisible ink technology as "ElectroInk Security 523". Our partner, S-One Labels & Packaging (S-One LP), manages sales and marketing of VerifyMe products.
This global agreement will place VerifyMe's digital security, authentication and tracking technology solutions in the hands of brand owners who seek to secure and track their products and goods from counterfeiters. The contract entails the leasing of VerifyMe's Smart Phone authentication devices, which read the invisible RainbowSecure codes into the cloud and are recorded in the Company's serialization, track and trace software platform called, VeriPAS. These devices are expected to be leased by Niagara Label brand owners and investigators, which will result in a recurring revenue and high gross margin business model for VerifyMe.
In conjunction with the smart phone reading device, the VeriPAS cloud-based software gives brand owners the ability to monitor, control and protect their products life cycle. This software resides in the cloud and brand owners access it over the internet. The software generates serialization codes which the brand owner purchases from VerifyMe. These codes are then printed on labels and packaging in both visible codes for consumers to engage and invisible codes known as RainbowSecure which trained brand inspectors review with our reading device.
VerifyMe Chief Executive Officer Patrick White commented: "Licensing is heating up. We are thrilled to have secured this agreement with Niagara Label who is a premier Western New York label manufacturer. The close proximity to our Rochester, NY headquarters provides VerifyMe an excellent venue to showcase the technologies to major brand owners who have sought help from us in protecting their brands from product diversion and counterfeiting. Its important to note that Niagara's business covers a wide range of industries and brands including the burgeoning cannabis packaging industry that requires our technologies more than other types of products due to the strict state by state regulatory requirements."
Niagara Label CEO, Keith Hatswell, stated: "We are very excited to work with VerifyMe and roll-out its technology solution across a variety of industries. Our customer base of brand owners have increasingly experienced counterfeiting of their products or goods and have expressed a desire for a technology solution to mediate these issues to protect their brand and improve their profitability.We believe VerifyMe's technology provides a high value-add solution that our brand owners will seek to deploy. We look forward to working with VerifyMe's team in rolling this out to our existing and new customers."
For additional information on the smartphone Authenticator and VeriPAS technology solution, please visit:
To view VerifyMe's recent presentation at the HP Indigo's Singapore Event on its New Brand Protection Technologies to VIP Print Service Providers in the Japan, Asia China HP Market Region, please visit:
About Niagara Label
Niagara Label is a privately owned, pressure sensitive label manufacturer near Buffalo N.Y. They are strongly positioned and conveniently located to the Northeast, Midwest and Mid-Atlantic regions, specializing in the food & beverage markets. With over 34 years experience, they understand the importance of high quality and a competitive price, however it is their devotion to unparalleled customer satisfaction coupled with an understanding of industry specific needs that truly set them apart from the competition. They pride themselves on the long, mutually beneficial relation ships they have built with their vendors, customers and employees, and it is THEIR success that truly defines WHY Niagara Label does what it does. With a continuous improvement approach, state of the art printing presses, digital equipment and HD prepress/design departments, Niagara Label is poised to ensure the highest quality of prime product labels for every market sector. Their responsive, can-do approach lends itself perfectly to the just-in-time requirements of today's print demands. They think of their customers as partners and work hard to ensure that the feeling is mutual.
For additional information, please visit: http://www.niagaralabel.com
About VerifyMe, Inc.
VerifyMe is a global technology company which specializes in brand protection and biometric people authentication. VerifyMe combines proprietary invisible security inks with cloud-based serialization, track and trace block chain software that enables brand owners to monitor, control and authenticate their products complete "life cycle". In addition, VerifyMe has a digital software platform that authenticates people by biometrics and other multi-factor verification processes.
VerifyMe's physical technology authenticates packaging, labels and documents with a suite of proprietary security inks and pigments, which work in conjunction with serialization and track-and-trace software. The company's digital technologies authenticate people by performing strong, multi-factor biometric verification via its patented digital software platforms. To learn more, visit www.verifyme.com
Cautionary Note Regarding Forward-looking Statements
This release contains forward-looking statements regarding our receipt of future revenue from the Niagara Label relationship and the rollout of the VerifyMe solution. The words "believe," "may", "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the acceptance by Niagara Label customers of our devices and our technology as a weapon in fighting counterfeiting and product diversion, Niagara Label's ability to work with its customers in licensing our authenticators and pricing issues which may affect their ability to lease our authenticators and sell our technology to customers. Further information on our risk factors is contained in our filings with the SEC, including the Form 10-K for the year ended December 31, 2018. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44331