Vinco Ventures, Inc. announces deal with OPTEC International, Inc.
and OPTEC Brand Ambassador
Dr. Drew Pinsky
Bethlehem, PA -- December 3, 2020 -- InvestorsHub NewsWire
-- Vinco
Ventures, Inc. (NASDAQ:
BBIG), today announced its growth platform Markets on Main has
executed a new agreement with OPTEC International, Inc.
(OTC:
OPTI)
for the production and distribution of their innovative health and
wellness products on live shopping and digital
commerce.
Markets
on Main, one of Vinco's growth platforms, provides full-service
management for products for live shopping and digital commerce
worldwide. Markets on Main also provides the logistic services
streamlining the process for its chosen product
partners.
"Markets
on Main is excited to be working with OPTEC International, Inc.,
Distribution and growth deals like the one we closed with OPTEC are
perfect for our Markets on Main growth platform," said Brian
McFadden, Chief Strategy Officer. "OPTEC
has cutting edge products and the celebrity names to back them up.
We look forward to their product launches and to be a part of their
growth strategy long term."
This
new contract offers Markets on Main the opportunity to distribute
OPTEC's two core products: the OPTEC "iWand" and Hydroxyl Portable
Air Sterilizer. Markets on Main will have access to
OPTEC's Brand
Ambassador Dr. Drew Pinsky, nationally
known television, radio and podcasting host and New York Times
bestselling author. "We
feel confident that the addition of Dr. Drew to the deal will open
up increased distribution opportunities," McFadden
concluded.
The
initial product launch will be the OPTEC
"iWand" UV-C
LED sterilizing
wand which
is a slim, high quality hand-held device that disinfects all
surfaces and kills 99.9% of bacteria and viruses and is proven to
work in 50 seconds. Perfect for cell phones, steering
wheels, Gas
Pumps, ATM, Restaurant and dining
tables, the OPTEC
"iWand"
is
made from military grade aluminum and fits comfortably
in a
pocket or
purse.
The
second product is the Hydroxyl Portable Air Sterilizer, a small,
safe, and quiet sterilizer that inhibits the growth of bacteria,
viruses, and germs in the home, office or car and is 99.9%
effective. It promotes a safe environment for everyone, including
children and pets. In addition to sterilization, this device also
removes dust and deodorizes.
"This
collaboration is the perfect way to leverage our platform, Markets
on Main, under Vinco Ventures' umbrella and is just one of the
opportunities presented to us under our new 'B.I.G.' Strategy,"
said Chris Ferguson, CEO.
About Vinco Ventures,
Inc.
Vinco
Ventures, Inc. (BBIG) is a mergers and acquisition company focused
on digital commerce and consumer brands. Vinco's B.I.G. (Buy.
Innovate. Grow.) strategy will seek out acquisition opportunities
that are poised for scale and grow said acquisitions through
targeted traffic and content campaigns. For more
information, please view
our investor
presentation or
visit Investors.vincoventures.com.
About
OPTEC International, Inc.
With
locations
in Carlsbad and Vista, California, OPTEC International,
Inc. is
a developer and manufacturer of electronic LED, Ultraviolet (UV)
& UV-C safety products and related advanced technologies and
PPE (Personal Protection Equipment) products. The company's
Safe-Scan product line is being launched at a time when HR
directors and facilities managers are experiencing extreme concern
with respect to keeping environments safe during the global
pandemic crisis and the safe reopening of the U.S. economy. For
more information visit: www.optecuvc.com
Forward-Looking Statements and Disclaimers
Certain
statements in this announcement are forward-looking statements
which are based on the Company's expectations, intentions and
projections regarding the Company's future performance, anticipated
events or trends and other matters that are not historical facts,
including expectations regarding: (i) the Company's long-term
targets, goals and strategies; (ii) the expected benefits of the
Company's focus on digital monetization; (iii) the future impact of
the preemptive actions the Company took in response to the COVID-19
pandemic coupled with its cash flow generation and balance sheet
and liquidity profile; (iv) the Company's strategies for each of
its segments, including its focus on recurring revenue, its balance
sheet and variable cost structure, and the opportunities in the
industries the Company serves; (v) the Company's positioning for
future growth and its ability to optimize performance of existing
businesses, pursue its disciplined acquisition strategy and
effectively manage its capital structure; (vi) the fragmentation of
the markets in which the Company operates, the acquisition
opportunities in those markets, the Company's intent to continue to
explore opportunistic acquisitions and the Company's capacity to
absorb additional acquisitions; (vii) certain expected 2020
financial results, including the Company's updated guidance for
2020, the assumptions it made and the drivers contributing to its
guidance; (viii) the Company's flexibility to capitalize on the
current environment and invest in potential strategic
opportunities; and (ix) the impacts of the COVID-19 pandemic on the
future operating and financial performance of the Company and its
customers, the Company's plans and strategies to adapt and respond
to the pandemic and the expected impact of those plans and
strategies. These statements are not guarantees of future
performance and are subject to known and unknown risks,
uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements, including: (i) economic conditions,
competition and other risks that may affect the Company's future
performance, including the impacts of the COVID-19 pandemic on the
Company's business, markets, supply chain, customers and workforce,
on the credit and financial markets, on the alignment of expenses
and revenues and on the global economy generally; (ii) the ability
to recognize the anticipated benefits of the Company's
acquisitions, including its ability to successfully integrate and
make necessary capital investments to support additional
acquisitions, and the Company's ability to take advantage of
strategic opportunities; (iii) changes in applicable laws or
regulations; (iv) the possibility that the Company may be adversely
affected by other economic, business, and/or competitive factors;
and (v) other risks and uncertainties. Given these risks and
uncertainties, prospective investors are cautioned not to place
undue reliance on forward-looking statements. Forward-looking
statements speak only as of the date of such statements and, except
as required by applicable law, the Company does not undertake any
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor
Relations:
Aimee
Carroll
Phone: 866-900-0992
Email: Investors@vincoventures.com
OPTEC
International, Inc.
Investor Relations
Contact:
Andrew
Barwicki
516-662-9461
/
Andrew@barwicki.com
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