Siyata Receives $6.19M from Exercise of Warrants
Financing Provides Ample Support for Worldwide Carrier Launches of First Vehicle-Mounted 4G/LTE Smartphone
Montréal, QC – Siyata Mobile Inc. (TSX-V:SIM | OTCQX: SYATF) (the “Company” or “Siyata”), is pleased to announce it has received proceeds of $6.19 million as a result of warrants which expired on March 18, 2019, representing the largest injection of capital the Company has received since going public in July 2015.
Marc Seelenfreund, CEO of Siyata Mobile states, “We are pleased to receive cash injection as we continue to reach milestones for the Company. As a result, we are well funded to support the upcoming UV350 launch with AT&T as well additional US and global carriers in an effort to drive highly successful launches of the world’s first vehicle-mounted LTE/4G for first responders and commercial fleet drivers worldwide.”
About the UV350
The UV350 is the first 4G/LTE all-in-one in vehicle fleet communication device that delivers crystal clear cellular voice calls, Push-to-Talk Over Cellular, data applications and more. This device was designed specifically for commercial vehicles ensuring safer communication for professional drivers.
Siyata Mobile Inc. is a leading global developer and provider of cellular communications systems for enterprise customers, specializing in connected vehicle products for professional fleets, marketed under the Uniden® Cellular brand. Since developing the world’s first 3G dedicated in-vehicle device, Siyata has been a pioneer in the industry, launching the world’s first 4G LTE all-in-one fleet communications device. Incorporating voice, push-to-talk over cellular, data, and fleet management solutions into a single device, the company aims to become the connected vehicle communications device of choice for commercial vehicles and fleets around the world.
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.</strong
CEO and Chairman
Glenn Kennedy, VP Sale
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.