#Online #Jewelry News: Reign
Sapphire (OTCQB: $RGNP) signs binding LOI to acquire 100% of the assets of
custom #jewelry company Coordinates Collection @CoordinatesCo
BEVERLY
HILLS, CA - November 10, 2016 (Investorideas.com Newswire) Online jewelry news
- Reign Sapphire Corporation, (OTCQB: RGNP, a jewelry company that sells
branded Australian Sapphire Jewelry direct to consumers, today announced that
it has signed a binding letter of intent to acquire 100% of the assets of
custom jewelry company, Coordinates Collection Inc. http://www.coordinatescollection.com/
Founded in 2012, Coordinates
Collection offers customized jewelry that uses materials such as
semi-precious to precious metals and stones as well as ceramic coatings. The
company sells bracelets, rings and necklaces that display the latitude and
longitude of any place that represents a special memory to the customer with 90%
online distribution as well as wholesale accounts and distribution
agreements to Middle East markets. Products are designed and
manufactured in Los Angeles, CA.
“Coordinates Collection is a
strong accretive acquisition for Reign, offering an established
infrastructure, human resources, intellectual property, supply chain,
product, up and downstream distribution, geographic expansion and revenue
synergies that will support our collective Brands throughout
the US, Europe, Asia and the Middle East,” said Joseph Segelman,
Reign Sapphire Corporation,
CEO.
This acquisition will enable us to
retain founder Owen De Vries, who will continue as Head of
International Business Development and Strategic Partnerships across
the Reign group of companies, while also retaining Coordinates
Collection Inc.’s team and infrastructure in downtown Los
Angeles, providing expansion opportunities for Reign related to sales
and marketing, distribution, and research and development.
Coordinates Collection has established Widgets, a 3D
Web Simulator and a retail display and guided sales technology kiosk
which create a scalable, personalized experience, further complementing
Reign’s Concierge, VIP Service and online shopping approach.”
Coordinates Collection founder, Owen
De Vries stated, “We are thrilled to integrate with Reign Sapphire Corporation as we carry
forward our brand growth expertise into this new venture. We consider
Reign to be an important aspect of driving the growth of the Mine-Gate to
Consumer concept and envision value creation across our complementary brands
and business models.
The acquisition is expected to
close in December 2016.
About
Coordinates Collection Inc.
Coordinates Collection Inc., is
a jewelry brand platform that offers an end-to-end solution to
launch accessories brands and marketplaces. Coordinates
Collections brands, including Le Bloc and Coordinates combine quality
craftsmanship and timeless designs to provide a personalized experience
to commemorate life’s favorite moments.
About Reign
Sapphire Corporation
Based in Beverly
Hills, California, Reign Sapphire Corporation is a fully reporting, DTC
eligible company, established as a “miners-gate to retail” model for fine
sapphires — rough sapphires to finished jewelry; a color gemstone brand; and a
jewelry brand featuring Australian sapphires.
Forward Looking
Statements
This press release
includes "forward-looking statements" within the meaning of the U.S.
federal securities laws, which statements may include information regarding the
plans, intentions, expectations, future financial performance, or future
operating performance of Reign Sapphire Corporation (“Reign” or the “Company”).
Forward-looking statements are based on the expectations, estimates, or
projections of the Company’s management as of the date of this press
release. Although Reign's management believes these expectations, estimates, or
projections to be reasonable as of the date of this presentation, forward-looking
statements are inherently subject to significant business risks, economic and
competitive uncertainties, or other contingencies, which could cause the
Company’s actual results or performance to differ materially from what may
be expressed or implied in the forward-looking statements. Important factors
that could cause Reign's actual results or performance to differ materially
from the forward-looking statements include those set forth in the "Risk
Factors” sections in the Company's filings with the Securities and Exchange
Commission, including the risks set forth in the company's Annual Report on
Form 10-K for the year ended December 31, 2015, which is available for viewing
on the SEC’s EDGAR website. These forward-looking statements speak only as of
the date of this press release and, except as required by
law, Reign specifically disclaims any obligation to update these
forward-looking statements, even if new information becomes available in the
future.
Corporate Contact
Joseph Segelman, CEO
9465 Wilshire Boulevard
Beverly Hills, CA 90212
(213) 457-3772
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