Toronto, Ontario--(Newsfile Corp. - October 11, 2018) - Pool Safe Inc. (TSXV: POOL) ("Pool Safe" or the "Company") is pleased to announce that Pool Safe MENA DMCC ("PS MENA"), Pool Safe's sales, marketing and distribution office in Dubai, United Arab Emirates, executed its first two revenue share contracts in the Middle East and North Africa ("MENA") region.
The Company announced the opening of its Dubai office in February 2018 and now has an active sales and marketing presence. "With the team in place, PS MENA has engaged in discussions with some of the region's most beautiful hotels and resorts as well as their premier waterparks," said David Berger, CEO of Pool Safe. "We knew it would take time to break into the local markets but the feedback and interest in the PoolSafe product has been fantastic."
"Abu Dhabi and Dubai have been the team's main focus thus far," said Mohannad Sharafuddin, Managing Partner, PS MENA. Mr. Sharafuddin continued, "We are extremely pleased to have executed our first two contracts and expect that our new revenue share partners, and their customers, will be overjoyed with the PoolSafes' added level of luxury and security."
Under the terms of the revenue share agreements, Pool Safe will provide the PoolSafe units to its two new revenue share partners. On the successful completion of this proof of concept program, PS MENA expects to expand on the offering by providing additional units to each site as well as their portfolio of hotels. As with all Pool Safe revenue share agreements, the Company will fund the production, delivery and integration of the PoolSafes units which will be deployed in VIP seating locations such as cabanas and daybeds. The rental fees for the PoolSafes are divided 60% to the Company and 40% to its partners.
Pool Safe Inc.
Pool Safe Inc. designs, develops and distributes a product known as the "PoolSafe", which functions as a multi-purpose personal poolside attendant. The PoolSafe is designed to provide safety, convenience and peace of mind for hotels, resorts, waterparks and cruise ship guests. Functions include: lockable safe, solar-powered charger for USB compatible electronic devices including phones and tablets in addition to a server call-button, a beverage cooler and holders. Conveniently located alongside pool or beach lounge chairs, PoolSafe is a unique way of providing vacationers with a comforting sense of security for their belongings, while they enjoy their vacation. For more information please visit www.poolsafeinc.com.
Pool Safe Inc. is a fully reporting publicly traded company which is listed on the TSX Venture Exchange under the symbol POOL.
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.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Pool Safe Inc.
Chief Operating Officer