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Siyata Mobile Receives $3.9MM from Exercise of Warrants
Jul. 27, 2017 09:18AM PST
Emerging Technology Investing
Siyata Mobile (TSXV:SIM) has announced that it has received $3.9 million from the exercise of 6.6 million share purchase warrants. As quoted in the press release: The funds will be used by the Company to continue its North American expansion throughout 2017. Marc Seelenfreund, CEO and Chairman of Siyata Mobile, commented, “The exercise of the …
Siyata Mobile (TSXV:SIM) has announced that it has received $3.9 million from the exercise of 6.6 million share purchase warrants.
As quoted in the press release:
The funds will be used by the Company to continue its North American expansion throughout 2017.
Marc Seelenfreund, CEO and Chairman of Siyata Mobile, commented, “The exercise of the warrants provides us with a strong vote of confidence from our investors. Now with over $10MM in working capital, we are extremely well positioned for continued growth globally and in North America.”
According to the United States Department of Transportation, in 2015 there were over 12 million fleet vehicles in the United States. Siyata aims to be the leading provider of connected vehicle and mobile hardware solutions as these commercial fleets upgrade their communication platforms to be compatible with next generation networks, PoC solutions and other software applications.