SOURCE: Rx Safes, Inc.

Rx Safes, Inc.

March 04, 2015 09:35 ET

Rx Safes Secures $10 Million Equity Credit Line

HENDERSON, NV--(Marketwired - Mar 4, 2015) - Rx Safes, Inc. (OTC: RXSF), the developer of fingerprint enabled healthcare security products and secure prescription medicine lock-boxes, announced today that it has executed an agreement with Coventry Financial, LLC., where Coventry has agreed to purchase up to $10 million of the Company's common stock over a three-year period in the form of a credit line. The line will provide the company with the necessary working capital to manufacture inventory of its Rx DrugSAFE product line as well as to expand its product offerings for the consumer and commercial healthcare markets. Additional information on the credit line can be found in the company's recently filed 8K.

Based on heightened interest the company has received for its products, it was necessary to secure a credit line to meet anticipated future production and manufacturing demands so the company's products can be delivered to customers without delay.

The company also announced today that it intends to participate in a nationwide program under the Affordable Care Act, to facilitate in-home care for patients with chronic conditions. Through the federally funded program, each state is encouraged to extend healthcare beyond traditional facilities and into the home. The company expects to use some of the money available through the credit line, to develop a new product, utilizing our proprietary fingerprint technology, which will allow home healthcare workers to provide safe, secure and HIPAA compliant care to patients in the field.

"Our patented fingerprint technology offers combined security and convenience and will aid in the overall adoption of our products in both the consumer and commercial healthcare markets. With a $10 million dollar credit line in place, the company is well positioned to support its anticipated growth as we develop new products for new market sectors," Ms. Yarde added

Prescription drug abuse has reached epidemic proportions and the Company has begun to integrate its patented fingerprint technology into other security solutions which will further address the drug diversion issue facing both consumers and professional healthcare facilities across the USA.

About Rx Safes, Inc.

Rx Safes is an emerging leader in the personal and professional healthcare drug security market. Since drug abuse and drug diversion starts with unauthorized access, our products incorporate proprietary patented fingerprint technology to provide drug security solutions for use in homes and healthcare facilities. Prescription drug misuse, skyrocketing insurance and pharmaceutical treatment costs and increased regulatory pressures create an unfortunate, yet necessary opportunity for Rx Safes to expand our reach and offerings in this growing market, valued at over $50 billion annually. Annual spending on healthcare technology products exceeds $34.5 billion. In addition, the market is being driven by ongoing Government support for successful drug abuse prevention initiatives, with a financial commitment of $25.4 billion in 2015 alone. For more information, please visit

Forward-Looking Statements for RXSF:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

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