DENVER and VANCOUVER, British Columbia, Sept. 16, 2021 (GLOBE NEWSWIRE) -- SPOTLITE360 TECHNOLOGIES, INC. (“Spotlite360” or the “Company”) (CSE: LITE) (OTC: SPLTF) (Frankfurt: 87A0) is pleased to announce that it has entered into a one-year agreement with Denver-based Sewald Hanfling LLC (“Sewald Hanfling”) to create and execute business development strategies for the commercialization of the Company’s SaaS-based supply chain solution (the “Spotlite360 Technologies”) in the healthcare, pharmaceutical, and cannabis categories. Founded in 2012, Sewald Hanfling is a public affairs firm with specialties to include government affairs, lobbying (local/state/federal), and business development. With a primary focus on markets in the state of Colorado, Sewald Hanfling has recognized opportunities for major players in both government and industry to leverage blockchain and Internet-of-Things (“IoT”) technologies to unlock new business value, optimize workflows, improve visibility, and facilitate compliance with new and emerging government and regulatory mandates.
In a press release dated August 11, 2021, Spotlite360 announced an agreement with one of the longest-established cannabis dispensary operators in Colorado to explore potential integrations of the Spotlite360 Technologies into its systems. Such integrations could be instrumental to efforts to expand into other states by providing an unparalleled level of visibility into the movement of goods in the supply chain. By ensuring each and every stakeholder in a supply chain is held accountable through immutable reporting on a distributed ledger through autonomous tracking instruments, solutions such as the Spotlite360 Technologies can set new standards in a variety of commercial sectors. As such, the Company intends to explore opportunities to encourage policy changes through Sewald Hanfling’s nationwide network of elected officials whose supervision of industries such as healthcare, pharmaceutical, and cannabis can provide valuable insights with respect to where solutions such as the Spotlite360 Technologies can be the most impactful.
More information about Sewald Hanfling can be found on its website: https://www.sewaldhanfling.com/
Under its agreement with the Company, Sewald Hanfling will be paid a referral commission for introductions of accounts who enter into service contracts for integrations of the Spotlite360 Technologies. With its extensive base of private sector clients throughout Colorado and elsewhere in the United States, the Company’s management believes that Sewald Hanfling will be a strategic channel partner for the Spotlite360 Technologies, driving pipeline growth and revenue opportunities for the Company.
Spotlite360 President James Greenwell commented, “Virtually every industry in the world can benefit from improved supply chain visibility and oversight made possible through technologies such as blockchain and IoT, which are the backbone of the Spotlite360 Technologies. Throughout the 20th century, computers and the Internet improved the availability of information among parties in a supply chain, allowing firms and service providers to operate more efficiently and with less risk. As these technologies set new de facto standards in each industry, many of those standards soon became law to the benefit of industry players as well as the end consumers. We believe that new paradigms are coming into place as blockchain and IoT lead the way in shaping the digital supply chains of 2021 and beyond, and we are grateful to have Sewald Hanfling on our side as a partner who can assist us in navigating how new regulations are established, in addition to making introductions to potential new accounts through their extensive network and client base.”
Sewald Hanfling co-founder R.D. Sewald also commented, “Based on our combined decades of experience with public policy and legislation, it is clear to us that lawmakers across the country are prioritizing the new standards of consumer satisfaction as a central consideration in forming regulations. Companies of all sizes have been nothing short of emphatic in recent years about their commitment to environmental, social, and corporate governance (‘ESG’) goals and standards, though the actual impact of such commitments can be quite difficult to measure or evaluate in a meaningful way. The Spotlite360 Technologies provide an interconnected, high-tech, and robust option for firms to continuously gather and assess data from every step in the supply chain, which we believe aligns with the common policy goals that ultimately stand to benefit the general public through higher standards among suppliers. We look forward to working with Spotlite360 and making introductions to our many contacts who can open doors leading to possible integrations, initially in healthcare, agriculture, and cannabis.”
On behalf of the Board of Directors of the Company,
Spotlite360 Technologies Inc.
“James Greenwell”
James Greenwell, President
For more information about Spotlite360, please visit: http://spotlite360.com
Charles Lee
Investor Relations and Media Inquiries
+1 (720) 830-6120
ir@spotlite360.com
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About Spotlite360 Technologies Inc.
Spotlite360 is a logistics technologies solutions provider unlocking value, opportunities, and efficiencies for all participants in a supply chain. Building upon existing applications of IoT technologies, distributed ledgers, and machine learning, Spotlite360 endeavours to set new standards of transparency, integrity, and sustainability in the pharmaceutical, healthcare, and agriculture industries. As regulators across the globe begin to impose new tracing and accountability requirements for the protection of consumers (e.g., DSCSA and FSMA from the U.S. Food and Drug Administration), the need for reliable, cost-effective, and versatile tracking technology is expected to grow considerably. Spotlite360’s flagship SaaS solution has been engineered to seamlessly track the movement of a product by integrating with systems of all major stakeholders in a supply chain ranging from the raw materials to the hands of the end consumer. With a primary objective of onboarding new clients in 2021, Spotlite360 plans to explore innovative use cases for its proprietary stack of technologies which could transform logistics workflows in some of the world’s largest industries.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, with respect to the Company. The forward-looking information included in this news release is not based on historical facts, but rather on the expectations of the Company’s management regarding the future growth of the Resulting Issuer, its results of operations, performance, business prospects, and opportunities. This news release uses words such as “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions to identify forward-looking information. Such forward-looking information reflects the current beliefs of the Company’s management, based on information currently available to them.
This forward-looking information includes, among other things, statements relating to: the intentions, plans and future actions of the Company; statements relating to the business and future activities of the Company; anticipated developments in operations of the Company; market position, ability to compete, and future financial or operating performance of the Company; the timing and amount of funding required to execute the business plans of the Company; capital expenditures of the Company; the effect on the Company, of any changes to existing or new legislation or policy or government regulation; the length of time required to obtain permits, certifications and approvals; the availability of labour; estimated budgets; currency fluctuations; requirements for additional capital; limitations on insurance coverage; the timing and possible outcome of regulatory and permitting matters; goals; strategies; future growth; the adequacy of financial resources; our expectations regarding revenues, expenses and anticipated cash needs.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions, and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and there can be no assurance that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties, and assumptions, prospective investors should not place undue reliance on these forward-looking statements. Whether actual results, performance, or achievements will conform to the expectations and predictions of the Company is subject to a number of known and unknown risks, uncertainties, assumptions, and other factors, including those listed in the Company's non-offering prospectus dated May 26, 2021.
If any of these risks or uncertainties materialize, or if assumptions underlying the forward-looking statements prove incorrect, actual results might vary materially from those anticipated in the forward-looking statements. Information contained in forward-looking statements in this news release is provided as of the date of this news release, and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information or future events or results, except to the extent required by applicable securities laws. Accordingly, potential investors should not place undue reliance on forward-looking statements or the information contained in those statements.
All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by Spotlite360 Technologies Inc. can be found under the Company's profile on http://sedar.com.
