SPY443.91+0.73 0.16%
DIA347.87+0.31 0.09%
IXIC15,047.70-4.55 -0.03%

VerifyMe Wins Initial Order For 4M Brand Protection Labels From New Cannabis Client, No Terms Disclosed

VerifyMe, Inc. (NASDAQ:VRME) ("VerifyMe," "we," "our," or the "Company"), connects a brand's products with consumers using unique smart phone readable codes announced

Benzinga · 09/01/2021 09:01

VerifyMe, Inc(NASDAQ:VRME) ("VerifyMe," "we," "our," or the "Company"), connects a brand's products with consumers using unique smart phone readable codes announced today that it has received an initial order for 4 million VerifyMe technology enabled labels from a new cannabis related client. The client has expressed a need for approximately 3-5 million labels per month on a going forward basis, although the client is not obligated to order any additional labels from the Company. At launch, these unique VerifyMe codes will provide consumers the ability to authenticate the product using their smart phones. In addition, the brand can provide detailed product specification features. In the future it is expected that additional robust two-way consumer engagement and business intelligence features will be added.

VerifyMe logo

VerifyMe's Chief Executive Officer, Patrick White, commented, "during the first quarter of 2021, we executed an aggressive sales and marketing plan that included the hiring of seasoned security print sales specialists along with a new robust website design and social media advertising campaign. We believe this plan is now bearing fruit as we signed what could potentially be one of our largest sales to date." White continued: "This sale came from a lead on our website and was sold to the new client in 60 days upon receipt which is also much less than our traditional sales cycle. We look forward to sharing new wins as they occur. White added: "Cannabis clients are dealing with counterfeiting problems as well as unique advertising and government product tracking and reporting requirements. VerifyMe's custom technology solution helps solves these issues."