Medigus: Jeff Brands to Enter the Logistic Warehouses Market in the U.S. to Support Amazon FBM Sellers E-commerce Growth
September 28 2021 - 8:00AM
Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in
advanced medical solutions, innovative internet technologies and
electric vehicle and charging solutions, announced today that Jeff
Brands Ltd. (50.03%), a fast-growing consumer products goods (CPG)
company, operating primarily on Amazon.com, will expand its
business into e-commerce logistics warehouses. Jeff Brands signed a
non-binding collaboration agreement with iFulfillYou LLC, a
U.S.-based warehousing logistics services company under which the
parties intend to collaborate for the establishment of logistics
warehouses in the U.S. through a newly created company.
Inventory and logistics centers are becoming an
increasingly important necessity, as use of Fulfillment By Merchant
(FBM) is expanding throughout Amazon, as well as other leading
e-Commerce platforms including eBay, Etsy, and others. Jeff Brands
desires to extend its business by utilizing its vast knowledge in
logistics to support sellers, online stores and brands.
As part of the collaboration, iFulfillYou will be
responsible for setting up, consulting and managing the logistics
warehouses. Jeff Brands and iFulfillYou will also develop and
design a proprietary A.I.-based software for warehouse logistics
management, real-time inventory tracking and automated shipping
certifications.
Jeff Brands will hold up to 79% of the new
company (on a fully diluted basis) and will be responsible to
finance it with up to US $3.5 million through loans in accordance
with milestones to be agreed upon in the binding agreement.
The new logistics warehouses in the U.S. are
designed to facilitate Jeff Brands expansion in North America and
will also provide services to all of its brands.
About Medigus
Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is
a technologies company that is focused on innovative growth
partnerships, mainly in advanced medical solutions, digital
commerce, and electric vehicle markets. Medigus' affiliations in
the medical solutions arena consist of ownership in ScoutCam Inc.
(OTCQB: SCTC) and Polyzion Ltd. The Company’s affiliates in digital
commerce include Gix Internet Ltd. (TASE:GIX), Jeff's Brands and
Eventer Technologies Ltd. In the electric vehicle market, Charging
Robotics Ltd. and Revoltz Ltd. are also part of the Company’s
portfolio of technology solution providers. Medigus is traded on
the Nasdaq Capital Market. To learn more about Medigus’ advanced
technologies, please
visit http://www.medigus.com/investor-relations.
Cautionary Note Regarding Forward Looking
Statements
This press relese may contain statements that
are “Forward-Looking Statements,” which are based upon the current
estimates, assumptions and expectations of Medigus’ management and
its knowledge of the relevant market. Medigus has tried, where
possible, to identify such information and statements by using
words such as “anticipate,” “believe,” “envision,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,”
“potential,” “will,” “would,” “could,” “should,” “continue,”
“contemplate” and other similar expressions and derivations thereof
in connection with any discussion of future events, trends or
prospects or future operating or financial performance, although
not all forward-looking statements contain these identifying words.
These forward-looking statements represent Medigus’ expectations or
beliefs concerning future events, and it is possible that the
results described in this press release will not be achieved. By
their nature, Forward-Looking Statements involve known and unknown
risks, uncertainties and other factors which may cause future
results to differ significantly from the content and implications
of such statements. Other risk factors affecting Medigus are
discussed in detail in Medigus’ filings with the Securities and
Exchange Commission. Forward-Looking Statements are pertinent only
as of the date on which they are made, and Medigus undertakes no
obligation to update or revise any Forward-Looking Statements,
whether as a result of new information, future developments or
otherwise. Neither Medigus nor its shareholders, officers and
employees, shall be liable for any action and the results of any
action taken by any person based on the information contained
herein, including without limitation the purchase or sale of
Medigus’ securities. Nothing in this press release should be deemed
to be medical or other advice of any kind.
Contact
Tali Dinar
Chief Financial Officer
+972-8-6466-880
ir@medigus.com
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