03:24:52 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Siyata Mobile Inc
Symbol SIM
Shares Issued 70,008,812
Close 2017-04-05 C$ 0.55
Market Cap C$ 38,504,847
Recent Sedar Documents

Siyata Mobile has Q1 2017 sales of $4.85-million

2017-04-06 08:59 ET - News Release

Mr. Marc Seelenfreund reports

SIYATA MOBILE RECORDS SALES OF $4.85MM IN Q1 2017 AND ANNOUNCES GRANT OF STOCK OPTIONS

Siyata Mobile Inc. has posted $4.85-million in revenue for first quarter 2017. This represents an increase of 80 per cent over the company's Q1 2016 sales and an 18-per-cent increase over Q4 2016 and is the third consecutive quarter of record sales.

Marc Seelenfreund, chief executive officer of Siyata, states: "We continue to see very strong demand for all our product lines and are happy to announce another record quarter. The recently completed $5.1-million financing puts the company in a very strong position to continue our aggressive sales and product launches into North America."

As previously announced, Siyata recently closed a $5.1-million brokered private placement financing which has contributed to the company's current working capital of $9-million. The company also recently released its Uniden UV350, the world's first 4G in-vehicle communications device that is FirstNet (Band 14) ready, a nationwide wireless broadband network dedicated to America's first responders.

The company also announces that it has granted one million options to Kin Communications Inc., pursuant to the terms of the company's stock option plan. Each stock option is exercisable into one common share of the company with an exercise price of 55 cents per common share. One hundred twenty-five thousand of the stock options will vest immediately from the date of grant. Thereafter, the stock options will vest on a quarterly basis in tranches of 125,000 with the first tranche vesting on July 6, 2017. The stock options shall expire, if unexercised, five years from the date of grant.

The company will announce its financial 2016 year-end results before the end of April, 2017, and its Q1 2017 results before the end of May, 2017.

About Siyata Mobile Inc.

Siyata Mobile is a leading global developer and provider of innovative cellular communication systems under the Uniden Cellular brand. Siyata's connected-vehicle devices and accessories are specifically designed for professional fleets including trucks, vans, buses, emergency service vehicles, government cars and more. Siyata aims to provide greater mobile connectivity for professional drivers and to facilitate replacement of the aging in-vehicle, multidevice status quo with a single device that incorporates voice, push-to-talk, data and fleet management solutions.

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