VerifyMe Enters into Contract with International Luxury Apparel Company

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Oct 06, 2022, 09:00 ET

ROCHESTER, N.Y., Oct. 6, 2022 /PRNewswire/ -- VerifyMe, Inc. (NASDAQ: VRME) ("VerifyMe," "we," "our," or the "Company"), together with its wholly owned subsidiary PeriShip Global LLC, provides brand owners time and temperature sensitive logistics, supply chain monitoring, authentication and data-rich consumer engagement, announced today that it has entered into an agreement with an international luxury apparel company to provide brand protection solutions.

On September 23, 2022, VerifyMe entered into an agreement to provide its brand protection labels with dynamic QR codes to an international luxury apparel company. The order for approximately 3 million labels with codes will allow the company's product to be scanned and inspected as it travels through the apparel market's supply chain and for the product to be authenticated at border control locations.

"We are very excited to announce this contract and order with a prestigious well-known international fashion industry leader," said Patrick White, Chief Executive Officer. "This is our second contract in the apparel space this year".

About VerifyMe, Inc.
VerifyMe, Inc. (NASDAQ: VRME), together with its wholly owned subsidiary PeriShip Global LLC ("PeriShip"), is a software driven logistics provider of high-touch, end-to-end logistics management. We provide logistics management from a sophisticated IT platform with proprietary databases, package and flight-tracking software, weather, and flight status monitoring systems, as well as dynamic dashboards with real-time visibility into shipment transit and last-mile events. In addition, VerifyMe technologies give brand owners the ability to gather business intelligence while engaging directly with their consumers. VerifyMe technologies also provide brand protection and supply chain functions such as counterfeit prevention, authentication, serialization, and track and trace features for labels, packaging and products. For additional information, please visit: https://www.verifyme.com .

Cautionary Note Regarding Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "will" and "to be" and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the impact of the COVID-19 pandemic, our reliance on our strategic partner, the successful development of our sales and marketing capabilities, the successful integration of our acquisitions (including the acquisition of the assets of PeriShip, LLC), our ability to retain key management personnel, our ability to work with partners in selling our technologies to businesses, production difficulties, our inability to enter into contracts and arrangements with future partners, issues which may affect the reluctance of large companies to change their purchasing of products, acceptance of our technologies and the efficiency of our authenticators in the field. These risk factors and uncertainties include those more fully described in VerifyMe's Annual Report and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled "Risk Factors." Should one or more of these risks or uncertainties materialize, or should any of our underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

SOURCE VerifyMe, Inc.