Montréal, QC – Siyata Mobile Inc. (TSX-V:SIM | OTCQX: SYATF) (the “Company” or “Siyata”) reports that the Company will release its results on or before May 29th, 2020 and will host an investor conference call and CEO Q&A at such time to discuss the results.
The Company remains an essential services business with sales and large scale trials for first responders, military and defense contractors who are all very active during this period both in the United States and in international markets.
Since the beginning of Q4 2019, the Company has announced over $10M in new purchase orders for delivery, which had been partially realized in 2019 Q4, with the balance expected in H1 2020. This does not include new purchase orders and orders for its cellular booster systems.
As previously announced, the Company has not been subject to material supply chain disruptions due to Covid-19 and continues to fulfill purchase orders, and has inventory ordered for second quarter delivery.
Details of the year end 2019 Conference Call will be made available closer to the filing date.
On March 18, 2020, the Canadian Securities Administrators announced it will provide a 45-day filing extension for filings required on or before April 30th 2020, to allow issuers the time needed to focus on the business implications of COVID-19. Siyata will rely on this exemption with respect to the annual filings in accordance with British Columbia Instrument. The Company will rely on the exemptions outlined in BC Instrument 21-505 of the British Columbia Securities Commission and postpone the filing of the Company’s annual Audited Financial Statements, Management Discussion & Analysis and related CEO and CFO certificates for the period ending December 31, 2019, as required under NI 51-102. The Company is continuing to work with the auditors and expects to file the annual filings by no later than May 29, 2020. In the interim, management and other insiders of the Company are subject to a trading blackout policy that reflects the principles in Section 9 of National Policy 11-207 Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions. The Company confirms that, since the filing of its interim consolidated financial statements for the nine months ended September 30, 2019, there have been no material business developments other than those disclosed through news releases.
Siyata Mobile Inc. is a global vendor of in-vehicle cellular IoT solutions for first responder and commercial fleet vehicles. The flagship UV350 is the world’s first 4G/LTE in-vehicle IoT cellular solution, incorporating voice, data, push-to-talk over cellular, fleet management, and other public safety software to increase situational awareness, and save lives.
Siyata also offers rugged phones for industrial users and signal boosters for homes, buildings, and fleets with poor cell coverage. Siyata’s customers include cellular operators, commercial vehicle technology distributors, and fleets of all sizes in Canada, the U.S., Europe, Australia, and the Middle East.
On Behalf of the Board of Directors of:
SIYATA MOBILE INC.
Glenn Kennedy, VP Sales
Siyata Mobile Inc.
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This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.