AIRPORT CITY, Israel, March 7, 2017 /PRNewswire/ --
MySize Inc. (the "Company") (NASDAQ: MYSZ; TASE: MYSZ), developer of proprietary, smartphone measurement applications, announced today that the company, in cooperation with PNO Consultants, has started the planning phase of opening a subsidiary in Poland, which will include an R&D facility. A team in Poland will be hired to develop a new product for an existing market.
MySize also announced today that, through PNO, the Company intends to submit the previously reported grant proposal to the European Union during Q2/2017. PNO is preparing and processing the funding applications. The aforementioned R&D facility will become operational only after a grant has been approved by the Polish government.
"We are moving forward as planned on this as well as other fronts," said MySize founder and CEO Mr. Ronen Luzon. "Our product pipeline is growing and we plan to continue working hard at finalizing development and introducing new products to the market that will improve the shopping experience for the customer and retailer alike. No matter the product, if it can be measured, our applications will be there to help."
About PNO Consultants
PNO Consultants provides advice, tools and solutions for foreign investors interested in green-field or local joint-venture investments that support development of new projects with international potential. PNO also helps companies to secure and leverage public grants and state aid. PNO is actively engaged in 1500 projects spanning 20 countries and services 450 clients, for which it has raised, collectively, in excess of 897 million euros to date.
About MySize Inc.
MySize Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique measurement technology based on sophisticated algorithms and cutting-edge technology with broad applications including apparel industry, e-commerce, shipping and parcel industry measurement. This proprietary technology is driven by several patent-pending algorithms which are able to calculate and record measurements in a variety of novel ways. To learn more about MySize, please visit our website. http://www.mysizeid.com
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Known material factors that could cause actual results to differ materially from those in the forward-looking statements include: an active trading market for our common stock may not develop on NASDAQ; the trading price for our common stock may fluctuate significantly; and the Company will continue to be a "controlled company," as defined under NASDAQ rules, and the interests of our controlling stockholder may differ from those of our public stockholders. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
SOURCE MySize Inc.