LAS VEGAS, May 4, 2021 /PRNewswire/ -- Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence ("AI") solutions and digital media properties, today announced a deal to partner with Shryne Group as Shryne continues to grow its retail footprint in California. Shryne currently operates 12 retail dispensaries in the state. Beginning with Shryne's flagship Stiiizy DTLA Store in Los Angeles, Shryne Group is adopting Remark's Retail AI Platform to assist with customer service and marketing, while providing state-of-the-art security via Remark's award-winning computer vision AI.
Shryne's investment in leading edge technologies such as Remark AI is helping to fuel our exponential growth
"Growth in the retail cannabis market is expected to proliferate as more and more states adopt the legal recreational use of cannabis. Remark's well established retail AI platform works with retailers to identify VIP customers, provide inventory management, heat mapping and other functionalities that support a great customer experience," noted Kai-Shing Tao, Chairman and Chief Executive Officer of Remark Holdings. "Additionally, the highly regulated cannabis industry requires best-of-breed security solutions, using our computer vision products to delineate security zones, access areas and intrusion detection."
"We are excited to work with Remark as we accelerate our retail growth," says Brian Mitchell, CEO and co-founder of the Shryne Group. "Shryne's investment in leading edge technologies such as Remark AI is helping to fuel our exponential growth and serving to bolster execution in building a world-class vertically-integrated cannabis company."
About Shryne Group, Inc.
Shryne Group is the largest vertically integrated cannabis company in California, the most established and sizable legal market in the world. Shryne Group cultivates, manufactures, distributes and retails branded cannabis products at scale through multiple retail and distribution channels. For more information, please visit the company's website at https://shrynegroup.com/.
About Remark Holdings, Inc.
Remark Holdings, Inc. (NASDAQ: MARK) delivers an integrated suite of AI solutions that enable businesses and organizations to solve problems, reduce risk and deliver positive outcomes. The company's easy-to-install AI products are being rolled out in a wide range of applications within the retail, public safety and workplace arenas. The company also owns and operates an e-commerce digital media property focused on a luxury beach lifestyle. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company's website at www.remarkholdings.com.
This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.
E. Brian Harvey
Senior Vice President of Capital Markets and Investor Relations
Remark Holdings, Inc.
Vice President of Investor Relations
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SOURCE Remark Holdings, Inc.