Siyata Mobile Posts Record Quarter of $4.9M in Revenue, Positive EBITDA and Increase in Gross Margins, Hosting Conference Call

MONTREAL, QC—(Marketwired – May 29, 2017) – Siyata Mobile Inc. (the “Company” or “Siyata”) (TSX VENTURE: SIM) (OTCQB: SYATF) is pleased to announce it has filed its Q1 2017 financial results and will hold a conference call on Tuesday May 30th, 2017 at 9:00AM EST.

Highlights

  • Q1 2017 revenue of ~$4.9MM versus ~$2.7MM in Q1 2016, an ~80% increase in sales over Q1 2016;

  • Adjusted EDITBA of $163K for Q1 2017 versus $28K for Q1 2016, a 482% increase over Q1 2016;
  • North American sales of $927K in Q1 2017 versus $42K in Q1 2016, due to Signifi acquisition and increasing dealership and sales channels;
  • Gross margin for Q1 was $1,321K (27% of Sales) versus Q1 2016 gross margin of $575K (21.1% of Sales), a 130% increase over Q1 2016;
  • $8.2M in working capital as of March 31, 2017.

Marc Seelenfreund, CEO of Siyata Mobile, commented, “We are extremely satisfied with our Q1 financial results with very strong growth in all parameters. I believe that Siyata is still at the early stages of its large scale potential and that we are well positioned to become a market leader in innovative cellular solutions for enterprise customers.”

The Company will hold a conference call on Tuesday, May 30, 2017, at 9:00 a.m. Eastern Time (6:00 a.m. PST), to discuss its recent Q1 financial results along with an investor call with Marc Seelenfreund, CEO of Siyata Mobile.

Details of the conference call:

Date: Tuesday, May 30, 2017
Time: 9:00 a.m. Eastern Time
North America dial–in number: 1–877–291–4570
International dial–in number: 1–647–788–4919

There will also be a playback of the conference call, available in mp3 format.

About Siyata

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.

Visit www.siyatamobile.com and http://www.unidencellular.com/ to learn more.

On Behalf of the Board of Directors of:

SIYATA MOBILE INC.

Marc Seelenfreund
CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.

Slate Office REIT Completes Acquisition of Commerce West in the Greater Toronto Area

TORONTO, ON—(Marketwired – May 29, 2017) – Slate Office REIT (TSX: SOT.UN) (the “REIT”), a leading owner of office properties in Canada, is pleased to announce the closing of its previously announced acquisition of Commerce West, a suburban office complex, located at 401 – 405 The West Mall, in Etobicoke, Ontario for an aggregate purchase price of $95 million ($231 per square foot).

Commerce West is a 411,842 square foot, Class A suburban office complex located in Etobicoke, Ontario. The complex includes two mid–rise office towers that are connected through a single story commercial corridor. With a prominent Highway 427 location, high quality tenants and in–place rents that are approximately 12% below market, this transaction is in line with the REIT's acquisition strategy. Collectively, Commerce West and two of the REIT's existing assets, 1 Eva Road and West Metro, solidify the REIT's presence as a prominent landlord along the Greater Toronto Area's 427 Corridor.

About Slate Office REIT (TSX: SOT.UN)
Slate Office REIT is an open–ended real estate investment trust. The REIT's portfolio currently comprises 38 strategic and well–located real estate assets located primarily across Canada's major population centres. The REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitions. Visit slateofficereit.com to learn more.

About Slate Asset Management L.P.
Slate Asset Management L.P. is a leading real estate investment platform with over $4.0 billion in assets under management. Slate is a value–oriented manager and a significant sponsor of all of its private and publicly–traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long–term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.