Canadian-based Internet of Things technology company, Danavation Technologies Corp (OTCMKTS:DVNCF), which also provides micro e-paper displays, on April 29, 2022, announced the signing of a preferred vendor agreement with CTW. This agreement will actively promote the company’s Digital Smart Labels and innovative Platform-as-a-Service solutions to varied clientele. CTW membership includes Independent Grocers Alliance, present in about 1300 locations, and another 100 additional retailers operating in about 1,000 further locations.
Market Reaction
On Friday, DVNCF stock ended flat at $0.1874 with more than 500 shares, compared to its average volume of 2K shares. The stock moved within a range of $0.1874 – 0.1874 after opening trade at $0.1874.
Danavation Technologies Announces Signing of Preferred Vendor Partnership Agreement with Circle The Wagons
Founded in 2018, CTW is a solution for the limited buying capacity of independent retailers with respect to “Not For Resale” expense commodities as well as services. The competitive landscape in modern times entails independent retailers to Circle The Wagons! CTW is designed for such businesses and was founded on principles of protecting profitability and delivering lower costs for NFR services.
CTW co-founder and Chief Executive Officer Bill Alford said that the company had been receiving feedback from grocers on exploring electronic shelf labels. Alford added that Danavation’s Digital Smart Labels was found to be the best solution for independent retailers.
Barton Howard, co-founder, and Chief Development Officer said that providing Digital Smart Labels is more than just saving money. Howard added that the company was scouting for an opportunity to enhance profit for the members.
John Ricci, CEO of Danavation expressed excitement about being chosen by Circle The Wagons as the preferred vendor partner for supplying electronic shelf displays.
Key Quote
“We had been hearing from grocers that they wanted to explore electronic shelf labels, a technology that really represents a forward-looking solution for retailers. After vetting some of the top vendors in the industry, we found that Danavation’s Digital Smart Labels™ were the best solution for independent retailers,” says CTW co-founder and Chief Executive Officer Bill Alford.
