Global developer and provider of cellular communications systems Siyata Mobile Inc. (TSX.V: SIM) (OTCQX: SYATF) announced on Thursday its completion of a non-brokered private placement with a single investor of 7,500,000 units, each at a price of $0.40, for gross proceeds of $3,000,000. “We are very pleased with this additional injection of capital to strengthen our balance sheet and build on our inventory,” Marc Seelenfreund, CEO and director of Siyata stated in the news release. “Our Q3 has proven to be very strong and will be substantially higher than Q3 2018 due to US sales, while our sales opportunity pipeline is very robust and continues to grow as expected. There is growing demand for Push-to-Talk Over Cellular devices across industries worldwide, witnessed by our expanding carrier and specialized distribution channels and we are well-positioned to capitalize on this paradigm shift in the market.” In addition, Siyata this morning announced that it has filed its second quarter 2019 financials and will be hosting a conference call to discuss these results, along with a Q&A session with Siyata Mobile CEO and Chairman Marc Seelenfreund. The call is scheduled to be held on Tuesday, September 3, 2019 at 9:00 AM ET. Interested parties may access the call by dialing (866) 521-4909 (Toll-Free) or (647) 427-2311 (International Calls). A playback in MP3 format will be available by contacting investor relations at SIM@KinCommunications.com.
About Siyata Mobile Inc.
A TSX Venture Top 50 Company, 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 connected vehicle device, Siyata has been a pioneer in the industry, launching the world’s first 4G LTE all-in-one fleet communications device in 2017. 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. For more information, visit www.SiyataMobile.com and www.UnidenCellular.com.
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