Sharing Services Global Corp (SHRG)

[Helter Skelter]

SHRG News! >> Document Security Systems Strengthens Its Interest in Sharing Services Global Corporation through $30 Million Investment

Press Release | 03/01/2021

ROCHESTER, N.Y., March 01, 2021 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. (NYSE American: DSS) (“DSS”) announced today in a joint press release that it has increased its investment in Sharing Services Global Corporation (OTCQB: SHRG) (“Sharing Services”), a publicly traded company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products, and technologies in the direct selling industry, through a $30 million convertible promissory note.

“This investment will help to accelerate Sharing Services sales and growth, as well as international expansion,” stated Chan Heng Fai, Chairman of DSS. “I believe Sharing Services is now extremely well capitalized to be a dominant player in the global marketplace over the next two years.”

“By significantly strengthening our investment in Sharing Services, we are confident in its ability to be a major player in the direct selling industry, providing it with the funds to exponentially increase its sales channels and substantially expand its product portfolio, positioning the company to rapidly scale sales in 2021 and beyond,” stated Frank D. Heuszel, CEO of DSS. “As part of our strategy, we are continuing to position Sharing Services to capitalize on the wealth of opportunities available to consolidate and rollup other direct selling companies. It is critical that capital be available to continue Sharing Services’ growth momentum. Through this investment, Sharing Services will move from drive to overdrive, positioning it with the assets, management, and resources needed to capitalize on the rapidly growing areas of opportunity in the direct selling markets globally.”

“Sharing Services is now in the expansion phase with a direct focus on the Asian markets, more specifically in countries such as South Korea, Japan, Hong Kong, China, Singapore, Taiwan, Thailand, Malaysia, and the Philippines,” stated John “JT” Thatch, CEO of Sharing Services. “Now with the additional support and resources needed to meet the expected substantial demand, we believe Sharing Services could generate millions more in sales over the next 12 months of operations, ultimately positioning the company to potentially become a billion-dollar business.”

Prior to this convertible promissory note investment, DSS owned 37% of the outstanding shares of Sharing Services. Sharing Services generated $98.4 million in revenue and $5.6 million net income in the trailing 12-month period ended September 30, 2020.

About Document Security Systems, Inc.

DSS is a multinational company, operating businesses in brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets. Its business model is based on a distribution sharing system in which shareholders will receive shares in its subsidiaries as DSS strategically spins them out into IPOs. Its historic business revolves around counterfeit deterrent and authentication technologies, smart packaging, and consumer product engagement. DSS is led by its Chairman and largest shareholder, Mr. Fai Chan, a highly successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. He has successfully restructured more than 35 corporations with a combined value of $25 billion.

For more information on DSS visit http://www.dsssecure.com.

DSS Investor Contact:
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
[e-mail]