Document Security Systems, Inc. (NYSE American: DSS) (“DSS”), a
multinational company operating businesses in brand protection
technology, blockchain security, direct marketing, healthcare, real
estate, and securitized digital assets, today announced the
expansion of its DSS Securities, Inc. business through an equity
interest in WestPark Capital, Inc.(“WestPark”) and an investment in
BMI Capital International LLC (“BMI”).
“This is a major milestone that falls directly
in line with our plans to fill out the ecosystem around DSS
Securities and builds upon our recently announced collaboration to
develop a digital securities exchange business in the US,” stated
Frank D. Heuszel, CEO of DSS.
DSS executed two separate transactions designed
to grow its DSS Securities division, signing a binding note and
stock exchange letter of intent to own 7.5% of the issued and
outstanding shares of WestPark and acquiring 24.9% of BMI through a
purchase agreement.
“We have participated in the blockchain space
since its earliest days,” commented Richard Rappaport, Chairman and
Founder of WestPark. “DSS Securities is extremely well positioned
in the industry with its recent JV with Coinstreet Partners and GSX
Group, and we believe this is the beginning of a lasting, mutually
rewarding relationship.”
WestPark is a full-service investment banking
and securities brokerage firm which serves the needs of both
private and public companies worldwide, as well as individual and
institutional investors.
BMI is a private investment bank specializing in
corporate finance advising, raising equity, and venture services,
providing a global “one-stop” corporate consultancy to listed
companies. From corporate finance to professional valuation,
corporate communications to event management, BMI services
companies in the US, Hong Kong, Singapore, Taiwan, Japan, Canada,
and Australia.
“Change is constant in the markets,” added
Robert Trapp, CEO of BMI. “We are excited to work with DSS
Securities as they capitalize on the wealth of opportunities
presented by the latest seismic shifts revolutionizing the
securities industry.”
Heuszel continued, “The transformative potential
of digital securities is extremely exciting. Working closely with
WestPark and BMI, we can tap into established channels to
accelerate the development of a secondary market in securities
tokens, what we believe will be the next evolutionary stage in
capital markets development.”
“This is a great opportunity that provides a
conduit to propel widespread interest in our digital security
exchange,” added Jason Grady, COO of DSS. “We plan to continue to
invest in these and other similar ventures as opportunities
warrant, effectively allocating the capital we have available to
drive growth and maximize returns.”
Regulated digital securities exchanges provide a
single point of access to issuance, listing, trading, and
settlement of digital securities for public and private companies
issuing equities, debt, investment funds, real estate, and
commodities. In addition to providing an alternative to current
public markets, digital securities exchanges are positioned to tap
into the $6.5 trillion private company market, which is estimated
to be growing 2x faster than public markets.
About Document Security Systems, Inc.
DSS is a multinational company, operating businesses in 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.
DSS 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 the section entitled "Risk Factors" in the prospectus
and in our other filings with the SEC, including, without
limitation, our reports on Forms 8-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.
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