VerifyMe Signs Mutual Sales Referral Agreement with The Agrarian Group

VerifyMe, Inc. (NASDAQ: VRME) has entered into a Mutual Sales Referral Agreement with The Agrarian Group, LLC, aimed at enhancing food safety and customer loyalty while boosting revenue for both firms.

Rhea-AI Summary

VerifyMe, Inc. (NASDAQ: VRME) has entered into a Mutual Sales Referral Agreement with The Agrarian Group, LLC, aimed at enhancing food safety and customer loyalty while boosting revenue for both firms. This collaboration leverages VerifyMe's logistics and food safety solutions with TAG's focus on next-generation agriculture. CEO Patrick White emphasized the potential of advanced indoor farming in improving food supply chains. The partnership allows consumers to access product information efficiently via QR codes, promoting transparency and trust.

Positive

• Entered into a Mutual Sales Referral Agreement with The Agrarian Group, enhancing brand loyalty and revenue.
• Positioned to leverage advanced indoor farming for improved food safety and sustainability.

Negative

• None.

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ROCHESTER, N.Y., Jan. 12, 2023 /PRNewswire/ -- VerifyMe, Inc. (NASDAQ: VRME) together with its subsidiary PeriShip Global LLC ("PeriShip Global"), (together "VerifyMe," "we," "our," or the "Company") provides brand owners time and temperature sensitive logistics, supply chain monitoring, authentication, and data-rich consumer engagement, announced today that it has entered into a Mutual Sales Referral Agreement (the "Agreement") with The Agrarian Group, LLC ("TAG"). The Agreement is structured to help advance food safety and customer loyalty, as well as increase revenue for both companies. TAG specializes in education that focuses on next generation agriculture to address the growing water, energy and food security nexus.

VerifyMe's Chief Executive Officer, Patrick White, commented, "The food industry is a major growth initiative for VerifyMe. Combining our PeriShip Global segment's ability to ship perishable food along with our new food safety solutions, we are very excited to announce this new strategic relationship with The Agrarian Group. We believe advanced indoor farming will play an increasingly important role in the food supply chain and that we are well positioned with TAG and our combined granted patents and trade secrets to help ensure that food safety and sustainability goes hand in hand with food access, shipping and affordability in the U.S. and around the world."

The Agrarian Group's President, Charlie Szoradi, commented, "We see tremendous potential in working with VerifyMe to set a new paradigm for next-generation agriculture. Consumers now have fast and easy ways to use their smart phones to click on VerifyMe food packaging QR codes. They can quickly see information that ranges from product sourcing and temperature control to promotions, and this transparency helps increase food safety while also building trust that increases customer loyalty."

About The Agrarian Group, LLC

The Agrarian Group is an education company that focuses on next generation agriculture to address the growing water, energy and food security nexus. They provide online and in-person curriculum and events as well as communications through media such as podcasts and videos. For additional information, please visit: https://www.theagrariangroup.com/.

About VerifyMe, Inc.

VerifyMe, Inc. (NASDAQ: VRME), together with its wholly owned subsidiary PeriShip Global, 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 provides brand protection and consumer engagement solutions allowing brand owners to gather business intelligence. To learn more, visit www.verifyme.com.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements regarding our strategic partnership and commercialization efforts. The words "will" , "expect", "believe", "should", and "provides" 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, the impact of inflation and reduced discretionary spending in a recessionary environment, our ability to timely pay amounts due and comply with the covenants under our debt facilities, intellectual property litigation, 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.

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SOURCE VerifyMe, Inc.

FAQ

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What is the announcement made by VerifyMe on January 12, 2023?

VerifyMe announced a Mutual Sales Referral Agreement with The Agrarian Group to enhance food safety and increase revenue.

How will VerifyMe's partnership with The Agrarian Group affect food safety?

The partnership aims to improve food safety through innovative logistics and transparency via QR codes on product packaging.

What is the stock symbol for VerifyMe?

VerifyMe's stock symbol is VRME.

What does VerifyMe specialize in?

VerifyMe specializes in logistics management, supply chain monitoring, authentication, and consumer engagement solutions.