SOURCE: U-Vend, Inc.

U-Vend, Inc.

November 12, 2014 08:20 ET

U-Vend, Inc. Completes Equipment Lease Agreement With Perkin Industries, LLC

Financing Provides Support for Company's Self-Serve Kiosk Expansion in Southern California

SANTA MONICA, CA--(Marketwired - Nov 12, 2014) - U-Vend, Inc. (OTCQB: UVND) (the "Company"), a consumer products and technology company that develops, distributes and markets various next-generation self-serve electronic kiosks in a variety of locations including grocery stores, drug stores, mass merchants, malls, and other retail environments across North America, announced today that they have executed a an equipment lease agreement with Perkin Industries, LLC. The agreement will provide the Company with added financial momentum to support the roll-out and expansion of its Mini-Melts kiosks in the Southern California market. 

"We are very pleased to partner with Perkin Industries, and in particular, its Founder and CEO, Nicolas Perkin", said Raymond Meyers, CEO of U-Vend. "The working capital resources that Perkin Industries provides will allow us to immediately enter the Southern California market with our Mini Melts self-serve kiosks. The kiosks will be located within big-box retailers, entertainment venues, shopping malls, and other high traffic locations," added Meyers.

On October 28th 2014, U-Vend announced the acquisition of territory operating rights from Mini Melts USA, Inc. for the Southern California and Las Vegas, Nevada regions. As part of the agreement, U-Vend has committed to, and will be installing, a minimum of 100 additional new Mini Melt kiosks in strategic locations within these regions over the next 24 months.

"At the core of the decision to enter into this relationship with Ray and the U-Vend team is the Perkin Industries' mandate and focus on hard assets that generate cash flow. The U-Vend model, operational metrics and its growth initiatives are very appealing propositions, and I am eager to assist the Company as they execute their expansion plans, not only in Southern California, but also in other locations where significant opportunity is apparent," stated Nicolas Perkin.

U-Vend's current self-serve kiosk count now totals 108 operating units located throughout Chicago, Illinois and Southern California. 

ABOUT PERKIN INDUSTRIES, LLC
Perkin Industries, LLC is located in New Orleans, Louisiana, and is headed by founder, Chairman and CEO Nicolas Perkin. Mr. Perkin was formerly co-founder and President of The Receivables Exchange, the first and largest electronic marketplace for the trading of commercial receivables. Prior to founding The Receivables Exchange, Mr. Perkin was part of the leadership team that built and ultimately sold Massive Incorporated to Microsoft Corporation in May 2006. Perkin Industries focuses exclusively on assets that sustain or grow in value while simultaneously generating predictable cash flow. Industries include: Food & Beverage, Real Estate, Healthcare, Oil & gas, and Hospitality.

ABOUT U-VEND, INC.
U-Vend, Inc. is headquartered in Santa Monica, CA, with additional locations in: Stoney Creek, Ontario Canada, Chicago, IL., Los Angeles, CA. and Las Vegas, NV. U-Vend develops, distributes and markets various "next-generation" self-serve electronic kiosks in a variety of locations ranging from grocery stores, drug stores, mass merchants, malls, and other retail locations in North America. The Company owns and operates kiosks with a particular focus on "Healthy Vending" and has partnered with numerous national consumer product companies to deliver new and unique customer retail experiences in an automated setting. For more information on U-Vend, visit www.u-vend.com.

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FORWARD LOOKING STATEMENTS
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to market acceptance for the Company's products and services, its ability to succeed in increasing revenues in the near term to attain profitable operations and generate sufficient cash flow from operations, the effect of new competitors in its markets, its integration of acquired businesses, and other risk factors identified from time to time in its filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and current reports on Form 8-K which are available at the SEC's website www.sec.gov. Other factors not currently anticipated may also materially and adversely affect U-Vend's results of operations, financial position, and cash flows. There can be no assurance that future results will meet expectations. While the Company believes that the forward-looking statements in this news release are reasonable, the reader should not place undue reliance on any forward-looking statement. In addition, these statements speak only as of the date made. The Company does not undertake, and expressly disclaims any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Contact Information

  • For more information:

    Corporate Office
    Tel: (855) 55-UVEND
    Email: Email Contact

    Investor Relations
    Tel: (855) 55-UVEND, ext. 3
    Email: Email Contact