Acquisition of Coordinates Collection and Jewelry Technology Focus Key Drivers for Growth in 2017
BEVERLY HILLS, CA / ACCESSWIRE / January 9, 2017 / Reign Sapphire Corporation, (RGNP) ("Reign" or the "Company"), a jewelry company that sells branded and custom jewelry direct to consumers, issues an update to shareholders.
Dear Valued Shareholders,
With the successful closing of the acquisition of 100% of the assets of custom jewelry company, Coordinates Collection Inc., we have positioned the company to continue developing an established custom product line and customer base.
Founded in 2012, Coordinates Collection offers customized jewelry that uses materials such as semi-precious to precious metals and stones, as well as ceramic coatings. The company sells bracelets, rings, and necklaces that display the latitude and longitude of any place that represents a special memory to the customer.
Coordinates Collection is distributed predominately online, with retail distribution in Dubai through its flagship brick and mortar store in the Mall of Dubai. Products are designed and manufactured in Los Angeles, California.
We understand the importance of showing consistent revenue growth to build shareholder value, and we believe that this acquisition was a significant milestone for us. We are actively reviewing additional accretive acquisition opportunities within the jewelry sector.
We have also expanded our markets internationally with the recent news of a second Middle East agreement for Coordinates Collection in Qatar and we hope to continue entering into additional international agreements in the coming months.
Our ongoing social and digital marketing efforts and activities have added tens of thousands of active followers across our social media platforms.
We intend to seek shareholder approval to change the company's name to Reign Corporation (OTCQB; RGNP) to reflect the expansion of the company's products beyond Australian Sapphires and Sapphire jewelry into three distinct operations with shared use of data and analytics.
Reign Corporation will include Reign Sapphires, Reign Brands, and Reign Ventures.
Reign Sapphires will continue to focus on Australian Sapphires and sapphire jewelry, "direct from source to customer" via a sustainable and ethically processed supply chain.
Reign Brands includes Coordinates Collection, LeBloc, and any future acquisitions.
Reign Ventures is our joint venture platform for investment and development of jewelry technology related products.
About Reign Brands:
Reign brands, including Le Bloc and Coordinates collection, combine quality craftsmanship and timeless designs to provide a personalized shopping experience to commemorate life's most memorable moments: http://www.coordinatescollection.com, http://www.leblocjewelry.com.
About Reign Sapphire Corporation:
Based in Beverly Hills, California, Reign Sapphire Corporation is a fully-reporting, DTC-eligible company, established as a "source to retail" model for fine sapphires - rough sapphires to finished jewelry, a color gemstone brand, and a jewelry brand featuring Australian sapphires, http://www.reignsapphires.com, http://www.reignsc.com.
Joseph Segelman, CEO
9465 Wilshire Boulevard
Beverly Hills, CA 90212
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the U.S. federal securities laws, which statements may include information regarding the plans, intentions, expectations, future financial performance, or future operating performance of Reign Sapphire Corporation ("Reign" or the "Company"). Forward-looking statements are based on the expectations, estimates, or projections of the Company's management as of the date of this press release. Although Reign's management believes these expectations, estimates, or projections to be reasonable as of the date of this presentation, forward-looking statements are inherently subject to significant business risks, economic and competitive uncertainties, or other contingencies, which could cause the Company's actual results or performance to differ materially from what may be expressed or implied in the forward-looking statements. Important factors that could cause Reign's actual results or performance to differ materially from the forward-looking statements include those set forth in the "Risk Factors" sections in the Company's filings with the Securities and Exchange Commission, including the risks set forth in the company's Annual Report on Form 10-K for the year ended December 31, 2015, which is available for viewing on the SEC's EDGAR website. These forward-looking statements speak only as of the date of this press release and, except as required by law, Reign specifically disclaims any obligation to update these forward-looking statements, even if new information becomes available in the future.
SOURCE: Reign Sapphire Corporation