NEW YORK, March 31, 2016 (GLOBE NEWSWIRE) -- VerifyMe, Inc. (OTCQB:VRME), a pioneer in patented physical, cyber and biometric technologies that prevent identity theft, counterfeiting and fraud, and Boutwell, Owens & Co., Inc., one of America’s most prestigious printing and packaging suppliers, announced today that they will jointly leverage VerifyMe’s patented anti-counterfeiting pigment technology and Boutwell’s conventional offset presses, coating units and sophisticated digital printing capabilities. Boutwell, Owens & Co. will market these brand protection and consumer safety features under the name OwenGuard™ to customers across multiple industries including pharmaceutical, consumer goods and automotive parts.
According to the International Chamber of Commerce, the global cost of counterfeit goods reached more than $1.7 trillion in 2015. As a result brand owners are taking more action to secure the legitimacy of their products, and many are looking to anti-counterfeit technologies that can be incorporated overtly and/or covertly. The partnership between Boutwell and VerifyMe elevates protection to a superior level at a minimal cost, safeguarding profits and brand value.
“With OwenGuard, we are offering an uncompromising layer of protection for our customers’ products and brands, as well as for their end users,” said Boutwell, Owens & Co. Inc., Chief Executive Officer, Ward McLaughlin. “Using VerifyMe’s pigments with our conventional offset presses, coating units and digital printing process offers authentication down to the level of each individual product item. We are committed to making this unique technology available to all our customers,” he added.
VerifyMe’s patented anti-counterfeiting pigment technology can be seamlessly integrated into the conventional offset presses, coating units and digital printing process to produce visible and invisible marks, which enables two separate types and levels of authentication. First, consumers are able to see the patented ink without any specialized equipment. Second, manufacturers can use customized devices to view characteristics of non-visible pigments to support their supply and distribution chains.
Paul Donfried, Chief Executive Officer of VerifyMe, Inc., added, “Individual package authentication is increasingly important particularly in the pharmaceutical and medical device sectors, where products are often customized for each individual consumer. The risk of counterfeiting in the modern world has increased, and OwenGuard affords manufacturers and their customers confidence, security and protection. Companies can be assured that their customers can easily verify they’ve received the genuine product.”
About VerifyMe, Inc.
VerifyMe, Inc., is a high-tech solutions company in the field of authenticating products and people. VerifyMe’s physical technology authenticates products, documents and currency with a suite of proprietary security inks and pigments. It markets a broad patent portfolio that includes patents for protecting material goods, products and packaging. The company’s digital technology authenticates people by performing strong, multi-factor verification via its patented digital platform. To learn more, visit www.verifyme.com
About Boutwell, Owens & Co., Inc.
Founded in 1887, Boutwell, Owens & Co., Inc., is a privately held printing and packaging company based in Fitchburg, MA. It is an independent manufacturer that focuses on printed paperboard packaging, with an international and diverse customer base. It is a leader in using environmentally friendly and sustainable raw materials. To learn more, visit http://www.boutwellowens.com
Forward-Looking Statements
This press release includes "forward-looking statements," which may be identified by words such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: our ability to raise additional capital, our limited revenues generated to date, our ability to attract and retain qualified personnel, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other factors set forth described in our filings with the Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K filed with the SEC on March 30, 2016. VerifyMe (formerly known as LaserLock Technologies) expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.