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Rx Safes, Inc. (OTCQB:RXSF) entered into a licensing agreement with Talon Brands, LLC., a manufacturer and seller of fingerprint products, for the rights to sell various fingerprint technology products in North America.
Rx Safes, Inc. (OTCQB:RXSF) entered into a licensing agreement with Talon Brands, LLC., a manufacturer and seller of fingerprint products, for the rights to sell various fingerprint technology products in North America.
According to the company press release:
The licensing agreement is the first for Rx Safes and validates the strength of the Company’s intellectual property portfolio. The agreement also introduces a new source of revenue for the Company outside of the core healthcare market focus. Under the terms of agreement, Talon Brands may continue to sell certain types of biometric locking products in North America and will pay Rx Safes a per unit licensing fee. Talon Brands will become a preferred distributor of other Rx Safes’ products and introduce Rx Safes products through its existing and established distribution channels, such as Grainger and The Home Depot. The Company will also offer its patented fingerprint technology interface and expertise to assist Talon in developing new and innovative fingerprint products, which will be added to the licensing agreement.
Lorraine M. Yarde, Chief Executive Officer of Rx Safes commented:
The execution of this agreement recognizes and validates the company’s intellectual property and expands our reach beyond our primary healthcare target market. We anticipate that we will continue to be able to support and protect our proprietary patented technology as the demand for biometrics increases across a wide range of industries. We look forward to recognizing the addition to our revenue stream as a result of this agreement and remain focused on creating additional opportunities for the company in order to increase shareholder value.
Click here to view the full press release.