Toronto, Ontario, Canada, Nov. 05, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- BioLife Sciences Inc. (OTCPK: BLFE) is pleased to announce it has reached an agreement with BeMotion Inc. for strategic investment to accelerate the commercialization of its advanced smart digital vending platform. BeMotion will invest a total of $4.5M USD as a combination of services and capital equipment into BioLife Sciences to fulfill and expand their current contracts.
This investment represents a significant step towards BioLife and BeMotion realizing a shared vision of smart digital vending which provides a solution to last-mile product distribution in the rapidly shifting landscape of retail which is re-shaping where and how consumers purchase products.
"We are excited to deepen our relationship with BeMotion on their next-generation vending platforms. It is clear to us that BeMotion has the most advanced vending technology in the world in addition to the IT expertise necessary to exploit the M-Commerce and Digital marketing capabilities. The platform is very dynamic which will allow us to expand this solution into new markets across North America." - said Mr. DeFour, CEO of BioLife Sciences.
The DCN Vending and Marketplace platform allows users to interact with the machines without contact through their smartphone and boasts a staggering array of features that benefit retailers such as M-Commerce, Products Directory, Loyalty Program, Delivery, Digital Advertising and Detailed Analytics.
"We believe that smart vending is the future of retail. BioLife's unique position within food & beverage markets combined with their strategic distribution relationships within the Canadian market made our choice to partner with BioLife very easy." - said Mr. Abu Hassan, CEO of BeMotion Inc.
BioLife Sciences plans to roll-out the systems throughout their existing distribution network with the initial targets being transit hubs across Canada.
About BioLife Sciences Inc.
BioLife Sciences Inc. specializes in moving innovative products from the lab or small-scale production into wider market adoption. Its core business develops, licenses and distributes antimicrobial products, non-contact human temperature screening technology, and touchless vending/marketplaces. One of BioLife Sciences' core building block strategies is to develop, partner and assist innovative companies with the commercialization of leading-edge technologies.
BeMotion Inc. provides a complete technological & strategic solution that taps into the next generation of digital opportunities. Established in 2016, BeMotion Inc. has developed and launched the MCN Platform with state-of-the-art thermal scanners. BeMotion Inc. is a privately-owned company with offices in Toronto, Dubai and London.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the ability of the Corporation to complete a qualifying transaction. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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