Depot Will Also Serve as Development Center for Next Generation of Self-Serve Kiosks
SANTA MONICA, CA–(Marketwired – Feb 2, 2015) – U-Vend, Inc. (OTCQB: UVND) (the “Company”), a consumer products and technology company that develops, distributes and markets next-generation self-serve electronic kiosks in a variety of retail environments across North America, announced today that they have entered into a new lease agreement for 2,800 sq. ft. of space. Located in Orange, CA, the new depot is an increase of 75% in square footage over the previous depot and will be used for warehouse and office space to support its current expansion in the Southern California market.
“This larger facility will allow us to perform our sales, marketing and operational functions in a more unified and coordinated manner. The regional roll-out of additional Mini Melt self-serve kiosks recently commenced, and in addition to that expansion, we are now exploring other revenue opportunities in numerous wholesale markets for our Mini Melts products such as theatres, zoos, ballparks, festivals and other high-traffic locations,” stated Raymond Meyers, CEO of U-Vend.
In October of 2014, U-Vend acquired territory rights from Mini Melts USA, Inc. for the placement and operation of Mini Melts self-serve kiosks, and establishment of wholesale operations within ten counties in Southern California and the greater Las Vegas area. As part of that agreement, U-Vend committed to installing a minimum of 100 additional new Mini Melt kiosks within these territories over the next 24 months. These two high-traffic markets are comprised of over 28 million consumers and provide exemplary environments for the expansion of the Company’s Mini Melts self-serve kiosks.
In addition to housing its general corporate operations and marketing, the depot will also function as an incubator and evaluation center for U-Vend’s next generation of high-technology, self-serve kiosks and merchandisers.
“The capabilities and performance of the industry’s next-generation, intelligent self-serve kiosks will be exciting,” Meyers stated. “From flash advertising, to facial recognition to artificial intelligence and virtual reality — the connection these machines will have to the consumer will be on another level. It is our intention to not only be part of the evolution, but to also be one of its innovation leaders,” added Meyers.
For more information on the future of self-serve kiosk technology, visit U-Vend Industry News.
ABOUT U-VEND, INC.
U-Vend, Inc. is headquartered in Santa Monica, CA, with additional locations in Stoney Creek, Ontario Canada, Chicago, IL, and Las Vegas, NV. U-Vend develops, distributes and markets various next-generation, self-serve electronic kiosks in a variety of retail locations in North America. The Company owns and operates kiosks and has partnered with numerous national consumer product companies such as Mini Melts USA, Del Monte and Arthur’s Smoothies, to deliver new and unique customer retail experiences in an automated setting. For more information on U-Vend, visit www.u-vend.com.
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FORWARD LOOKING STATEMENTS
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to market acceptance for the Company’s products and services, its ability to succeed in increasing revenues in the near term to attain profitable operations and generate sufficient cash flow from operations, the effect of new competitors in its markets, its integration of acquired businesses, and other risk factors identified from time to time in its filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and current reports on Form 8-K which are available at the SEC’s website www.sec.gov. Other factors not currently anticipated may also materially and adversely affect U-Vend’s results of operations, financial position, and cash flows. There can be no assurance that future results will meet expectations. While the Company believes that the forward-looking statements in this news release are reasonable, the reader should not place undue reliance on any forward-looking statement. In addition, these statements speak only as of the date made. The Company does not undertake, and expressly disclaims any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.