MONTREAL, QC--(Marketwired - September 07, 2016) - Siyata Mobile Inc. (the "Company" or "Siyata") (TSX VENTURE: SIM) (OTC PINK: SIMFF) is pleased to announce that it has received a purchase order from the second largest rail company in Canada for its Truckfone devices and accessories.
The Truckfones will be replacing the currently installed 2G operated Motorola M800's on the fleet of locomotives across Canada.
CEO of Siyata Mobile, Marc Seelenfreund states, "We are pleased to sell our devices into an additional vertical which represents another large commercial opportunity for Siyata. As aging networks shut down, hardware needs to be replaced to continue to operate and our devices are a very simple solution for fleets needing to adapt to the change in networks."
There are hundreds of thousands of Motorola M800 devices currently installed in commercial vehicles globally that will need to be replaced over the next several years as cellular operators terminate service of the 2G networks the M800's operate on. Siyata's connected vehicle devices offer a clearer signal and broader range even in remote areas or loud environments and are proven "mission critical" communication devices for various emergency service vehicles around the world.
Siyata's Truckfone and Voyager devices are the world's first 3G connected-vehicle devices. The Company works with cellular operators and dealerships around the world to meet the needs of fleets requiring a solution for better connectivity, safer driving, and reliable asset tracking.
Additionally, Siyata announces they have signed Paradox Public Relations, based out of Montreal Quebec, to assist with its Investor Relations Activities.
Pursuant to the agreement reached between the parties, Paradox will focus on developing and expanding Siyata's communications with the investment community through a comprehensive investor relations program. Paradox has been providing investor relations services in multiple industries for nearly fifteen years. Services to be provided to Siyata will include: marketing to the investment community, use of Paradox's proprietary database and contacts, organizing meetings and presentations on behalf of Siyata.
The agreement has a term of 24 months and may be terminated at any time without charge by either party by giving 30 days' notice in writing. Paradox will be paid a monthly fee of $5000 and will be granted an option to acquire up to 400,000 common shares of Siyata at a price of $0.35 per share, vesting quarterly and expiring 2 years from the date of grant, in accordance with the Company's stock option plan. The agreement with Paradox as well as the payment of fees and the granting of stock options is subject to the approval of the TSX Venture Exchange.
Siyata Mobile Inc. is a leading global developer and provider of innovative cellular communication systems. Siyata's "Connected-Vehicle" devices and accessories are specifically designed for professional fleets such as trucks, vans, buses, ambulances, government cars and more. Siyata aims to provide greater mobile connectivity for professional drivers and to facilitate replacement of the current in-vehicle, multi-device status quo with a single device that incorporates voice, data, and fleet management solutions.
Through its newly acquired subsidiary Signifi Mobile, Siyata also markets and sells Uniden® cellular signal boosters and accessories across Canada and the United States. Siyata's customers include cellular operators, commercial vehicle technology distributors, and fleets of all sizes in Canada, the US, Europe, Australia, and the Middle East.
Visit www.siyatamobile.com to learn more.
On Behalf of the Board of Directors of:
SIYATA MOBILE INC.
CEO and Director
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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.