BEVERLY HILLS, Calif., November 7, 2016 /PRNewswire/ —

Reign Sapphire Corporation, (OTCQB: RGNP) (“Reign” or the “Company”), the first mine-gate to customer jewelry company to sell branded Australian Sapphire Jewelry direct to consumers, today announced the it has signed a binding letter of intent to acquire 100% of the assets of custom jewelry company, Coordinates Collection Inc.

Founded in 2012, Coordinates Collection offers customized jewelry that uses materials such as semi-precious to precious metals and stones as well as ceramic coatings. The company sells bracelets, rings and necklaces that display the latitude and longitude of any place that represents a special memory to the customer with 90% online distribution as well as hundreds of wholesale accounts and distribution agreements to Middle East markets. Products are designed and manufactured in Los Angeles, CA. Coordinates Collection Inc.’s revenue for the last financial year was $3.2 million USD.

“Coordinates Collection is a strong accretive acquisition for Reign, offering dynamic infrastructure, human resources, intellectual property, supply chain, product, up and downstream distribution, geographic expansion and revenue synergies that will support the growth of our collective Brands throughout the US, Europe, Asia and the Middle East,” said Joseph Segelman, Reign Sapphire Corporation, CEO.

“This acquisition will enable us to retain founder Owen De Vries, who will continue as Head of International Business Development and Strategic Partnerships across the Reign group of companies, while also retaining Coordinates Collection Inc.’s strong team and infrastructure in downtown Los Angeles, providing expansion opportunities for Reign in Sales and Marketing Distribution, Fulfillment and R&D.

“Driven by technology, Coordinates Collection has established Widgets, a 3D Web Simulator and a first of its kind retail display and guided sales technology kiosk which create a scalable, highly personalized experience, further complementing Reign’s Concierge, VIP Service and online shopping approach, while setting the stage for future wholesale and retail expansion,” he continued.

Coordinates Collection founder, Owen Devries stated,” We are thrilled to integrate with Reign Sapphire Corporation as we carry forward our innovative and highly successful brand growth expertise into this new incarnation. We are highly confident that the combination of Reign and Coordinates Collection Inc., will yield exponential growth across our brands by leveraging our unique and soon to be united expertise. We consider Reign visionary in driving the growth of the Miner-Gate to Consumer luxury Australian Sapphire Jewelry brand and envision expansive value creation across our complementary brands and business models. Together, Reign will strengthen its core capabilities to expand not just vertically but also outwardly, across channels and geographies with truly compelling brand growth, technology and strategies that will gain strong traction.

The acquisition is expected to close in December 2016.

About Coordinates Collection Inc.

Coordinates Collection Inc., is an innovative jewelry brand platform that offers an end-to-end solution to successfully launch accessories brands and marketplaces. Coordinate Collections brands, including Le Bloc and Coordinates combine quality craftsmanship and timeless designs to provide an unparalleled personalized experience to commemorate life’s favorite moments.

About Reign Sapphire Corporation

Based in Beverly Hills, California, Reign Sapphire Corporation is a fully reporting, DTC eligible company, established as a “miners-gate to retail” model for fine sapphires – rough sapphires to finished jewelry; a color gemstone brand; and a jewelry brand featuring Australian sapphires.

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws, which statements may include information regarding the plans, intentions, expectations, future financial performance, or future operating performance of Reign Sapphire Corporation (“Reign” or the “Company”). Forward-looking statements are based on the expectations, estimates, or projections of the Company’s management as of the date of this press release. Although Reign’s management believes these expectations, estimates, or projections to be reasonable as of the date of this presentation, forward-looking statements are inherently subject to significant business risks, economic and competitive uncertainties, or other contingencies, which could cause the Company’s actual results or performance to differ materially from what may be expressed or implied in the forward-looking statements. Important factors that could cause Reign’s actual results or performance to differ materially from the forward-looking statements include those set forth in the “Risk Factors” sections in the Company’s filings with the Securities and Exchange Commission, including the risks set forth in the company’s Annual Report on Form 10-K for the year ended December 31, 2015, which is available for viewing on the SEC’s EDGAR website. These forward-looking statements speak only as of the date of this press release and, except as required by law, Reign specifically disclaims any obligation to update these forward-looking statements, even if new information becomes available in the future.

Corporate Contact
Joseph Segelman, CEO
9465 Wilshire Boulevard
Beverly Hills, CA 90212
(213) 457-3772

SOURCE Reign Sapphire Corporation