- Continued expansion of Danavation's footprint across Canada with contracts for four new locations to be outfitted with Digital Smart Labels™
- Securing a steady stream of new and existing brands to implement Danavation's solution demonstrates ongoing sales success and market share capture
Toronto, Ontario--(Newsfile Corp. - February 16, 2023) - Danavation Technologies Corp. (CSE: DVN) (OTCQB: DVNCF) ("Danavation" or the "Company"), the only North American-founded and headquartered technology company providing micro e-paper displays, is pleased to announce that the Company has secured new contracts pertaining to four additional installations of our innovative Digital Smart Labels™. Since the beginning of 2023 alone, Danavation has announced installations of our Digital Smart Labels™ into ten new retail locations across Canada and the U.S.
These new installations include the continued roll-out to the second and third installations for Palma Pasta in the Greater Toronto Area (GTA), following on the heels of Danavation's success with the first Palma Pasta installation in Mississauga, announced on May 05, 2022. Through its initial installation, Palma Pasta found that Danavation's Digital Smart Labels™ and Platform-as-a-Service (PaaS) solution helped to automate in-store operations and drove improved margins by increasing staff efficiency and reducing costs associated with inaccurate shelf pricing. These installations are expected to be complete by late spring, 2023.
Danavation is also deploying our Digital Smart LabelsTM for two new customers in Ontario, one of which is CSR Building Supplies (CSR), the largest specialist drywall and finishing tool superstore in Canada. CSR has contracted to install Danavation's solution into its main location, with a second potential install predicated on the success of the first. The second new customer is a specialty appliance retailer in Ontario, where Danavation will install Digital Smart LabelsTM into one location in the Greater Toronto Area.
"Each installation represents incremental success in further building our client base and the total number of locations leveraging our Digital Smart Labels™, both of which are key contributors to the Company's long-term goal of realizing meaningful revenue expansion," said John Ricci, CEO of Danavation. "Continuing to secure new installations - whether for smaller, boutique stores or national big box retailers - is at the heart of Danavation's business model and a testament to our ability to foster trusted relationships across North America."
About Danavation
Danavation Technologies Corp. is the only North American-founded and headquartered technology company providing Digital Smart Labels™ and a software Platform-as-a-Service (PaaS) solution that enables companies across various sectors to automate labelling, price, product, and promotions in real-time. Danavation's Digital Smart Labels™ enhance data accuracy and improve performance by removing high labour costs and low productivity typically associated with traditional labour-intensive workflows. Our goal is to create a sustainable and profitable business for shareholders while advancing sound environmental, social and governance practices, including by significantly reducing paper usage. Danavation has introduced its solution to retailers across North America, including big box and boutique grocers, while also targeting new markets including healthcare providers, manufacturing, and logistics companies. Learn more about the background of Danavation and our vision for the future on our website. As well, follow us on LinkedIn, Instagram, Twitter and YouTube for more updates on how we are transforming the retail landscape.
For further information, please contact:
John Ricci
President & Chief Executive Officer
hello@danavation.com
Kyle Nazareth
Chief Financial Officer
Tel: 289-892-3974 | investors@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, potential roll outs of the Company's products and services, further business from the Company's clients, industry outlook and potential 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. 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.
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