03:14:01 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Pool Safe Inc
Symbol POOL
Shares Issued 66,408,416
Close 2018-02-05 C$ 0.13
Market Cap C$ 8,633,094
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Pool Safe, Cowabunga enter revenue share deal

2018-02-06 10:06 ET - News Release

Mr. Steven Glaser reports

COWABUNGA BAY WATERPARK PARTNERS WITH POOL SAFE FOR ALL THEIR PRIVATE AND VIP CABANAS

Pool Safe Inc. has signed a revenue share agreement with Cowabunga Bay, a premier Las Vegas based waterpark. Under the terms of the agreement, Pool Safe and Cowabunga Bay will enter into a three-year revenue share partnership for 51 PoolSafes.

As with all of the company's revenue share agreements, the company will finance the production of the PoolSafes and their subsequent delivery to Cowabunga Bay. In return, Cowabunga Bay will rent the PoolSafes to its customers, with 60 per cent of the rental revenue allocated to the company and the remaining 40 per cent allocated to Cowabunga Bay.

"The water park industry is one of Pool Safe's three main sales verticals," said David Berger, chief executive officer of Pool Safe. "Industry market data suggests that one of the main attractions at a waterpark are luxury cabanas, which fall second to only tube slides in popularity. Our PoolSafe fits in perfectly with this new trend."

"Cowabunga Bay offers some of Nevada's most thrilling and one-of-a-kind water slides, endless rivers and beaches," said Shane Huish, owner/general manager at Cowabunga Bay. "The luxury, security and convenience of the PoolSafe product will enhance our guest's experience as they enjoy their time in our newly refurbished exclusive VIP, standard and lounge cabanas."

Waterparks first surfaced over 75 years ago, and the industry has seen significant growth throughout the last decade. In 2017 North America had over 1,000 waterparks and saw more than $550-million in new investments, according to Hotel & Leisure Advisors report: "2017 Waterpark Forecast: Continued Growth."

About Pool Safe Inc.

Pool Safe designs, develops and distributes a product known as the PoolSafe, which functions as a multipurpose personal poolside attendant. The PoolSafe is designed to provide safety, convenience and peace of mind for hotels, resorts, waterparks and cruise ship guests. Functions include: lockable safe, solar-powered charger for USB compatible electronic devices including phones and tablets in addition to a server call-button, a beverage cooler and holders. Conveniently located alongside pool or beach lounge chairs, PoolSafe is a unique way of providing vacationers with a comforting sense of security for their belongings, while they enjoy their vacation.

We seek Safe Harbor.

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