DSS Wholly Owned Subsidiary Impact BioMedical Announces Exclusive Distribution Agreement with BioMed Technology
December 23 2020 - 8:30AM
Document Security Systems, Inc. (NYSE American: DSS), a
multinational company operating businesses focused on brand
protection technology, blockchain security, direct marketing,
healthcare, real estate, and securitized digital assets, today
announced its wholly owned subsidiary Impact BioMedical, Inc.
("Impact BioMedical") entered into a 10-year exclusive distribution
agreement (the “Distribution Agreement”) with BioMed Technology
Asia Pacific Holdings Limited (“BioMed”), a limited liability
company incorporated in the British Virgin Islands. BioMed is the
holding company of BioMed Technology Holdings Limited which focuses
on manufacturing natural probiotics, pursuant to which the Company
will directly market, advertise, promote, distribute and sell
certain BioMed products to resellers. The products to be
distributed by the Company include BioMed’s PGut Premium
Probiotics®, PGut Allergy Probiotics®, PGut SupremeSlim
Probiotics®, PGut Kids Probiotics®, and PGut Baby Probiotics®.
Under the terms of the Distribution Agreement,
the Company will have exclusive rights to distribute the products
within the United States, Canada, Singapore, Malaysia, and South
Korea and non-exclusive distribution rights in all other countries.
In exchange, the Company agreed to certain obligations, including
mutual marketing obligations to promote sales of the products.
“We are pleased to have secured exclusive
distribution rights to key major markets globally,” stated Chan
Heng Fai, Chairman of DSS. “This latest agreement further
strengthens Impact BioMedical’s foundation and provides the
potential for strong near-term revenue growth. We look forward to
providing further updates on this and other initiatives as we
continue to execute.”
The global probiotics market was estimated at
US$48 billion in 2018 and is anticipated to expand at a CAGR of
6.9% through 2025, driven by the growing consumer inclination
towards preventive healthcare in conjunction with the development
of efficient probiotic
strains. In
connection with the Distribution Agreement, the Company also
entered into a subscription agreement with BioMed (the
“Subscription Agreement”), pursuant to which the Company agreed to
purchase 525 ordinary shares of BioMed (the “Shares”) at a purchase
price of HK$9,333.33 per share for total consideration of
HK$4,900,000 (approximately US$630,000).
The Subscription Agreement provides, among other
things, the Company the right to appoint a new director to the
board of BioMed. With respect to an issuance of shares to a third
party by BioMed, the Company will have the right of first refusal
to purchase such shares, as well as customary tag-along rights.
About Impact BioMedical, Inc.
Impact BioMedical, Inc. ("Impact BioMedical") is
a wholly owned subsidiary of DSS. Impact BioMedical strives to
leverage its scientific know-how and intellectual property rights
to provide solutions that have been plaguing the biomedical field
for decades. By tapping into the scientific expertise of GRDG
Sciences, LLC, Impact BioMedical pledges to undertake a concerted
effort in the R&D, drug discovery and development for the
prevention, inhibition, and treatment of neurological, oncological
and immuno related diseases. For more information on Impact
BioMedical visit http://impbio.com/.
About Document Security Systems, Inc.
DSS is a multinational company operating
businesses focused on brand protection technology, blockchain
security, direct marketing, healthcare, real estate, and
securitized digital assets. Its business model is based on a
distribution sharing system in which shareholders will receive
shares in its subsidiaries as DSS strategically spins them out into
IPOs. Its historic business revolves around counterfeit deterrent
and authentication technologies, smart packaging, and consumer
product engagement. DSS is led by its Chairman and largest
shareholder, Mr. Fai Chan, a highly successful global business
veteran of more than 40 years specializing in corporate
transformation while managing risk. He has successfully
restructured more than 35 corporations with a combined value of $25
billion.
For more information on DSS
visit http://www.dsssecure.com.
Investor Contact:
Dave Gentry, CEORedChip Companies
Inc.407-491-4498Dave@redchip.com
Safe Harbor Disclosure
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements include, but are not limited to,
statements related to the Company's intended use of proceeds and
other statements that are not historical facts. Forward-looking
statements are based on management's current expectations and are
subject to risks and uncertainties that may cause actual results or
events to differ materially from those projected. These risks and
uncertainties, many of which are beyond our control, include: risks
relating to our growth strategy; our ability to obtain, perform
under and maintain financing and strategic agreements and
relationships; risks relating to the results of development
activities; our ability to attract, integrate and retain key
personnel; our need for substantial additional funds; patent and
intellectual property matters; competition; as well as other risks
described in our SEC filings, including, without limitation, our
reports on Forms 8-K, 10-K and 10-Q, all of which can be obtained
on the SEC website at www.sec.gov. Readers are cautioned not to
place undue reliance on the forward-looking statements, which speak
only as of the date on which they are made and reflect management's
current estimates, projections, expectations and beliefs. We
expressly disclaim any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in our expectations or any
changes in events, conditions or circumstances on which any such
statement is based, except as required by law.
DSS (AMEX:DSS)
Historical Stock Chart
From Aug 2024 to Sep 2024
DSS (AMEX:DSS)
Historical Stock Chart
From Sep 2023 to Sep 2024