Danavation Technologies Corp. Provides Operational and Corporate Update
TORONTO, Feb. 3, 2021 /CNW/ - Danavation Technologies Corp. (CSE: DVN) ("Danavation" or the "Company"), a Canadian-based Internet of Things (IoT) technology company and leading provider of micro e-paper displays to organizations across North America, is pleased to share an update on operational and corporate progress made since the Company's common shares listed on CSE on January 15, 2021.
Danavation's high-growth business model is based on the provision of proprietary and transformative micro e-paper displays, or "Digital Smart LabelsTM", that enable retailers, grocers, healthcare providers, manufacturers and logistics companies to wirelessly automate labelling, pricing and promotions in real-time. Against the backdrop of an ever-changing retail landscape, the Company has helped dozens of global brands evolve into the digital era, facilitating retail modernization through dynamic pricing strategies, improved pricing accuracy and increased labour productivity, which ultimately increases client profitability and reduces the environmental footprint.
Danavation Highlights
- High-growth, commercial-stage technology company with a proven track record of execution across blue-chip clients and a growing pipeline of premier names.
- Only North American-based provider of Digital Smart LabelsTM, ideally positioned as clients push for transparency, credibility and security from their service provider partners.
- Cutting-edge IoT automation technology and Platform-as-a-Service (PaaS) software,
- Poised to realize increasing annual recurring revenue (ARR) operating within a large potential market.
- As customer base grows rapidly, the US market is expected to drive approximately 80% of our sales through 2026.
- Intellectual property secured on our proprietary software products; currently at the patent application and examination stage.
- We are proud to highlight our strong management team who have more than 30 years of experience servicing top 500 retailers across North America, are exceptionally well-aligned with shareholders and management has an approximately 40% ownership.
- As stores are digitized, our environmental, social and governance (ESG) commitment is prioritized. With Danavation, paper and toner use are drastically reduced, physical touch-points within stores declines and the Company has committed to donating to a tree planting service which issues special client certificates after 100 trees have been planted in the name of that retailer / location.
Operational Update
Through 2020 and into 2021, the Company's sales and marketing teams have been actively engaged with our existing retail customers to identify opportunities to increase utilization of Danavation's Digital Smart LabelsTM across a broader number of locations, as well as striving to establish relationships with new potential partners. We are proud to feature several case studies on our website which demonstrate the numerous advantages Danavation delivers to our retail partners. Building on a two-store pilot project with LCBO (Liquor Control Board of Ontario), one of the largest retailers and suppliers of beverage alcohol in the world, Danavation is exploring opportunities for further LCBO store roll-outs across additional locations in 2021 and beyond. A video on our website showcases the LCBO experience, and based on active dialogue, the Company currently anticipates that additional new retailers will be secured both locally and nationally through the first half of 2021 to implement Danavation's Digital Smart LabelsTM.
In addition, following multiple inbound queries from international retailers, we are very excited at the prospect of accessing new retail markets globally. As material contracts and agreements are secured, and impactful location implementations are undertaken, Danavation will provide ongoing updates to our stakeholders.
"Building on several successful pilot projects with major retailers, management is optimistic and excited about the future," said John Ricci, President and CEO of Danavation. "As the only provider of Digital Smart LabelsTM that is based right here in North America, Danavation is well positioned with a low-risk, service-first value proposition driven by management's 25-plus year relationships with large retail and grocery brands across Canada and the US."
In addition to advancing new locations, we are also working to continually improve our product. Through our cutting-edge development team, Danavation has been actively investing in a new label design with a targeted roll-out within the first calendar quarter of 2021. Key features of the new design include a more streamlined format, lower profile, enhanced updating capabilities and improved energy efficiency. We look forward to working with our partners to further enhance their experience.
Corporate & Market Outreach Activities
On January 15, 2021, the Company's common shares commenced trading on the Canadian Securities Exchange (CSE) under ticker 'DVN' and our warrants started trading on the CSE on January 19, 2021 under ticker 'DVN.WT'. With a current market cap of approximately $34 million and approximately $3.4 million of cash on the balance sheet, we are well positioned with financial flexibility to continue executing our growth strategy.
As a newly public company, Danavation recognizes the importance of establishing a credible and trusted market presence. The Company is committed to regular and meaningful market engagement which may be achieved through press releases as part of continuous disclosure compliance, or through communications via other available channels, such as corporate blog updates on Danavation's website, CEO interviews through mainstream or social media outlets, investor presentations to capital markets participants, and attendance at industry or investment conferences to elevate our profile. Danavation has confirmed our participation at numerous Capital Event Conferences through 2021, and are targeting several other well-attended investor-focused conferences. We are committed to executing an active campaign of proactive market outreach designed to raise awareness and ensure timely, transparent and important communications with all of our stakeholders.
We encourage our shareholders to visit the Danavation website for more information, client case studies and investor presentations at https://danavation.com/. Stay up to date on the Company's progress by following us on Twitter, LinkedIn, YouTube and Instagram.
About Danavation
Danavation Technologies Corp. is a Canadian-based, Internet of Things (IoT) technology company, providing micro e-paper displays to organizations across North America. The Company's Digital Smart Labels™, powered by leading IoT automation technology and software Platform-as-a-Service (PaaS), enables companies across various sectors to automate labelling, price, product, and promotions in real-time, enhancing data accuracy and improving performance by removing high labour costs and low productivity associated with traditional labour-intensive workflows. By empowering the adoption of smart retail, smart cities and industry 4.0, our goal is to create a sustainable and profitable business for shareholders while advancing sound environmental, social and governance ("ESG") practices, including by significantly reducing paper usage. Danavation is proud to support some of North America's leading retailers, including big box and boutique grocers as well as healthcare providers, manufacturing, and logistics companies. Learn more about the background of Danavation and our vision for the future on our website at www.danavation.com.
Forward-Looking Information
This news release contains forward–looking statements and forward–looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. More particularly and without limitation, this news release contains forward–looking statements and information relating, the future business of the Company, and other matters. The forward–looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward–looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. The forward-looking statements in this press release include the information related to the future business of the Company, and other matters. Since forward–looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward–looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward–looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward–looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Danavation Technologies Corp.
please contact: John Ricci, President & Chief Executive Officer, [email protected]; Cindy Gray, 5 Quarters Investor Relations, Inc., Tel: 1-403-231-4372 | [email protected]; For media relations / management interview requests: Mr. Nelson Hudes, des Communications International, Tel: 1-905-660-9155 or [email protected]
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