CALGARY, Alberta, March 01, 2022 (GLOBE NEWSWIRE) -- CE Brands Inc. (TSXV: CEBI; CEBI.WT) ("CE Brands" or the "Company") is pleased to report that eBuyNow eCommerce Ltd. ("eBuyNow"), a wholly-owned subsidiary of CE Brands, has entered into strategic distribution agreements (the "Distribution Agreements") with AITONIX ("Aitonix") and Smile Market Inc. ("Smile")(each a "Distributor" and collectively the "Distributors") to further expand the Company's global distribution capabilities into Central and Eastern Europe and South Asia.
The Distributors will initially be granted distribution rights to CE Brands' smartwatches including the recently announced moto watch 100 (www.motowatch.com) which is part of the Company's new line of Moto Smartwatches being launched in 2022.
Smile will add Bangladesh, Nepal and Sri Lanka to its existing distribution agreements with CE Brands which includes several Central and South American countries while Aitonix will have distribution rights? in Romania, Greece, Croatia, Serbia, Bulgaria and the Ukraine.
"As we continue to fulfill our strategy of increasing our network of distribution partners in major territories globally it is important to expand our sales channels in Central and Eastern Europe with Aitonix as well as increase our presence in South Asia with the new territories added to our agreement with Smile. The Motorola brand is globally recognized and the recently released range of 2022 Motorola Smartwatches has contributed to the expansion of CE Brands' distribution network," said Craig Smith, CEO of CE Brands. "These new Agreements reflect the global appeal of our Motorola branded Smartwatch product line and our commitment to expand CE Brands' presence in global retail markets."
In each of the Distribution Agreements, the Distributor will be appointed as eBuyNow's exclusive authorized distributor of certain CE Brands products, within their respective designated territories for a period of 2 years with potential for future extensions.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please visit www.cebrands.ca.
To be added to the CE Brands' distribution list please register at www.cebrands.ca/investors.
About CE Brands
CE Brands Inc. develops products with leading manufacturers and iconic brand? licensors by utilizing proprietary data that identifies key market opportunities?. With sales today ?in? over 70 countries, our innovative, ?highly ?repeatable process, which we call the "CE Method?",? has created ?an ?optimal growth ?path for CE Brands to be the premier global licensed brand manufacturer.
This press release contains forward-looking information within the meaning of applicable securities laws. In general, forward-looking information refers to disclosure about future conditions, courses of action, and events. The use of any of the words "anticipates", "believes", "expects", "intends", "plans", "will", "would", and similar expressions are intended to identify forward-looking information. More particularly and without limitation, this press release includes forward-looking information with respect to the anticipated demand for our Motorola branded Smartwatch product line in the Central and Eastern Europe and South Asia markets, further expansion into retail markets, future growth of Smartwatch sales, potential future extensions with the Distributors, the anticipated launch timelines and anticipated availability, performance and appeal of Motorola products, including the moto watch 100 and the Company's expectations related thereto.
The forward-looking information is based on certain key expectations and assumptions, including the timing of the resumption of manufacturing operations at the Company's partner factories in Asia and the timing of product shipments and deliveries.
Although CE Brands believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because CE Brands cannot give any assurance that they will prove to be accurate. By its nature, forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed in this press release. Such risks and uncertainties include, among others, the impact of the evolving Covid-19 pandemic on the Company's business, operations and sales; reliance on third party manufacturers and suppliers; the Company's ability to stabilize its business and secure sufficient capital; the Company's available liquidity being insufficient to operate its business and meet its financial commitments, which could result in the Company having to refinance or restructure its debt, sell assets or seek to raise additional capital, which may be on unfavorable terms, if available at all; the inability to implement the Company's objectives and priorities for 2022 and beyond, which could result in financial strain on the Company and continued pressure on the Company's business; risks associated with developing and launching new products, including the moto watch 100 and products that the Company anticipates will be launched in the future (including a mid-level smart watch); increased indebtedness and leverage; the fact that historical and projected financial information may not be representative of the Company's future results; the inability to position the Company for long-term growth; risks associated with issuing new equity including the possible dilution of the Company's outstanding common shares; the value of existing equity following the completion of any financing transaction; the Company defaulting on its obligations, which could result in the Company having to file for bankruptcy or undertake a restructuring proceeding; the Company being put into a bankruptcy or restructuring proceeding; and the risk factors included in CE Brand's continuous disclosure documents available on www.sedar.com. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date of this press release, and to not use such forward-looking information other than for its intended purpose. CE Brands undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities legislation.
For further information about CE Brands or its principal operating subsidiary, eBuyNow eCommerce Ltd., please contact:
|Kalvie Legat||Rob Knowles|
|Chief Financial Officer||Manager, Investor Relations|
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