C-Bond Systems Enters into $1 Million Supply Agreement for its Patented C-Bond NanoShield
Per the agreement, buyer must place an initial order of at least $100,000 and has annual minimum purchase requirements of over $1 million to maintain exclusivity
HOUSTON, July 20, 2020 (GLOBE NEWSWIRE) -- C-Bond Systems (the “Company” or “C-Bond”) (OTC: CBNT), a nanotechnology solutions company, announced today that it has entered into an exclusive supply agreement with a large overseas conglomerate to sell a version of C-Bond NanoShield™ with annual minimum purchase requirements in excess of $1 million to maintain exclusivity. Concurrent with the execution and per the terms of the agreement, the buyer is expected to place an initial order of at least $100,000.
The conglomerate has a diverse portfolio of products that collectively generates revenues in excess of $4 billion. With offices in Europe, the Middle East, and Australia, they have a global footprint of established brands.
The C-Bond NanoShield technology protects and strengthens windshields by permeating the glass surface and repairing the microscopic flaws and defects on the glass that ultimately initiate chipping and cracking. The strengthening process begins immediately upon application and continues while the material cures in the following days. The product provides long-lasting protection from the increasing windshield repair costs associated with advanced driver assistance system (ADAS) sensor technologies.
“We are very proud to partner with such a well-established conglomerate, addressing a significant opportunity to drive increased sales of C-Bond NanoShield globally,” said Scott R. Silverman, Chairman and Chief Executive Officer of C-Bond Systems. “Our new partner manufactures and markets some of the most well-known brands in its region and we are confident that their operational expertise and robust sales channel will advance our long-term growth prospects. I look forward to seeing this important relationship evolve.”
C-Bond NanoShield is tested and validated to strengthen glass through a patented nanotechnology emulsion that increases impact resistance. C-Bond NanoShield features the same glass strengthening technology as C-Bond Secure.
C-Bond Systems, Inc. (OTC: CBNT) is a Houston-based advanced nanotechnology company and marketer of the patented C-Bond technology, developed in conjunction with Rice University and independently proven to significantly strengthen glass in key automotive and structural applications. The Company’s Transportation Solutions Group sells C-Bond NanoShield®, a liquid solution applied directly to automotive windshields, sold through distributors. The Company’s Safety Solutions Group sells ballistic-resistant glass solutions and FN NANO Coating directly to private enterprises, schools, hospitals and government agencies. For more information, please visit our website: www.cbondsystems.com, Facebook: https://www.facebook.com/cbondsys/ and Twitter: https://twitter.com/CBond_Systems.
Statements in this press release about our future expectations, including the likelihood that the buyer is expected to place an initial $100,000 order; the likelihood that buyer will place annual minimum purchases of over $1 million to maintain exclusivity; the likelihood that partnering with a well-established conglomerate addresses a significant opportunity to drive increased sales of C-Bond NanoShield globally; the likelihood that the partner’s operational expertise and robust sales channel will advance our long-term growth prospects; the likelihood that this important relationship will evolve; constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. These risks and uncertainties include, without limitation, C-Bond’s ability to raise capital; the Company’s ability to successfully commercialize its products; the effect of the COVID-19 global pandemic on the Company’s ability to operate; as well as other risks. Additional information about these and other factors may be described in the Company’s filings with the Securities and Exchange Commission (“SEC”) including its Form 10-K filed on March 25, 2020, its Forms 10-Q filed on May 15, 2020, November 14, 2019, and August 12, 2019, and in future filings with the SEC. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
Contact: Luke Zimmerman Senior Vice President MZ Group - MZ North America 949-259-4987 CBNT@mzgroup.us www.mzgroup.us Allison Tomek C-Bond Systems 6035 South Loop East Houston, TX 77033 email@example.com
Released July 20, 2020