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ROCHESTER, N.Y., Aug. 31, 2020 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. (&ldquo DSS&rdquo or the &ldquo Company&rdquo ) (NYSE American: DSS), a multinational company operating businesses focusing on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets, today announced that its Board of Directors declared a record date of 5:00 p.m. ET on September 7, 2020 (&ldquo Record Date&rdquo ) for the first tranche of its previously proposed two-part special dividend of Impact BioMedical shares.

Shareholders of record will be entitled to a bonus of two shares of Impact BioMedical (&ldquo Bonus Shares&rdquo ) for every one share of DSS common stock held as of the Record Date.

A second tranche of the special share dividend is expected to provide an additional two shares of Impact BioMedical for each common share of DSS held. The record date for this tranche is yet to be determined. While there can be no assurance that Impact BioMedical will be taken public and/or that any Bonus share distribution will occur, particularly due to unforeseen circumstances including fulfilling the pre-requisite criteria during the IPO application process and market forces beyond the Company' s control, it is the intention of management and the Board to take Impact BioMedical public.

DSS announced the closing of its acquisition of Impact BioMedical on August 21, 2020. Impact BioMedical&rsquo s ownership of a suite of antiviral and medical technologies has been valued at $382 million by Destum Partners, known globally for its high level of expertise and capability in independently valuing and advising on pharmaceutical technology. On May 26, 2020, Impact BioMedical disclosed that it received a valuation of $933 million for this suite of technology from a different independent valuation firm. Unlike the  previous valuation, the  new valuation takes into consideration numerous additional disease applications of the suite of antiviral and medical technologies.