DSS Expands Footprint of DSS Securities through Acquisition of 24.9% of Broker-Dealer Sentinel Brokers Company
May 24 2021 - 9:31AM
Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE
American: DSS), a multinational company operating business segments
in blockchain security, direct marketing, healthcare, consumer
packaging, real estate, renewable energy, and securitized digital
assets, today announced the further expansion of its DSS
Securities, Inc. business through an acquisition of 24.9% of
Sentinel Brokers Company, Inc. (“Sentinel”), a FINRA-registered
broker-dealer. Terms of the agreement include the option to acquire
an additional 50.1% of Sentinel.
“We are thrilled to further expand the footprint
of DSS Securities,” stated Frank D. Heuszel, CEO of DSS. “Owning a
broker-dealer will help to accelerate our plans to build out an
ecosystem around this high-growth, high-return potential segment of
our operations.”
Founded in 1996 by Joseph Lawless, Sentinel
primarily operates as a financial intermediary, facilitating
institutional trading of municipal and corporate bonds as well as
preferred stock.
“Markets are continually evolving,” commented
Lawless. “As Sentinel celebrates our 25th anniversary this year,
it's exciting to engage a synergistic strategic partner the caliber
of DSS that has tremendous vision and resources giving it
the ability to capitalize on a wealth of
opportunities. I am excited to work with the DSS team as we move
forward.”
“This is great opportunity to accelerate the
trajectory of our digital securities business,” commented Jason
Grady, Chief Operating Officer of DSS. “We plan to continue to
invest qualified ventures as opportunities warrant, effectively
allocating the capital we have available to drive growth and
maximize returns.”
DSS Securities completed its acquisition of
24.9% of Sentinel through its wholly owned subsidiary, Sentinel
Brokers, LLC.
About Document Security Systems, Inc.
DSS is a multinational company operating
business segments in blockchain security, direct marketing,
healthcare, consumer packaging, real estate, renewable energy, 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 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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