Siyata Mobile comments on U.S. market activity
SIYATA MOBILE Inc. has made the following statements regarding certain market activity surrounding the company’s common shares that trade on the OTC Markets.
On Nov. 8, 2017, the company was notified by the OTC Markets about certain promotional activities in relation to the company’s common shares traded on the OTCQX, including certain promotional newsletter references. The company was not aware of any promotional activities until notified of same by OTC Markets and is unaware of the full nature of the promotional activity or the responsible parties.
Upon reviewing the content of the material, the statements and claims made were taken from the company’s websites, PowerPoint presentations, quotes from historical press releases and information from the OTC Markets website, which are factual and non-misleading. However, there are statements made that encourage investors to purchase shares of SYATF, which only express the view of the authors. The company encourages investors to contact their investment advisers.
The common shares of the company listed on the OTCQB on May 11, 2017, and, upon meeting certain requirements, listed on the OTCQX on July 25, 2017. Since the company commenced trading on the OTC markets, the volume has averaged approximately 33,500 shares per day. During the same period, trading volume has averaged approximately 441,000 shares per day on the company’s principal market in Canada.
On Nov. 8, 2017, the company disseminated a news release announcing it has received commitments from three cellular operators for its newly launched U7 Hulk Clamshell device in the order of $1.2-million. After this announcement, the shares traded approximately 113,000 shares on the OTC market and approximately 1,156,611 shares on the company’s principal market in Canada.
The company attributes any increased trading volumes on the OTCQB to the contents of its Nov. 8, 2017, news release and the continued positive advancements of the company’s business.
After inquiry, the company confirms that its officers, directors or its controlling shareholders (shareholders owning 10 per cent or more of the company’s securities) or third party service providers have not, directly or indirectly, authorized or been involved in any way with the creation or distribution of this promotional materials.
After inquiry, the company confirms that none of its officers, directors or its controlling shareholders (shareholders owning 10 per cent or more of the company’s securities) have purchased or sold shares in the last 90 days except for one director and one controlling shareholder who have sold shares in the context of the market and made all required filings in connection with such trades. Further information on these transactions can found on the Canadian Insider website.
Since Nov. 1, 2016, the company has engaged Kin Communications Inc. to provide investor relations services in Canada and PCG Advisory Group for investor relations services in the United States. Both remain under contract. The company also retained the services of Paradox Public Relations for public relations services. This contract ended in October, 2017.
The company has been advised that PCG Advisory Group and Paradox have not bought or sold shares in the previous 90 days, while Kin Communications has, in context of the market, during this period.
In the last 24 months, the company has completed two private placement transactions at allowable discounts to the market price at the time the financings were announced. On March 16, 2017, the company issued 12,835,000 units at 40 cents per unit. On June 10, 2016, the company issued 8,299,714 units at 35 cents per unit. At the time of issuance, all private placement securities were subject to applicable statutory hold periods.
About Siyata Mobile Inc.
Siyata 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.
Siyata also offers rugged phones for industrial users and signal boo sters for homes, buildings and fleets with poor cell coverage.
We seek Safe Harbor.
Michael Brian Budd, Michael Joseph Kron, Stephen Ospalak, Marc Seelenfreund
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