Siyata Announces U.S. Registration Statement Filing - Seite 2

The Company further announces that it has filed restated audited annual financial statements for the financial years ended December 31, 2019 and 2018 (the “Restated Financial Statements”).  Subsequent to the issuance of the financial statements on June 11, 2020, the Company re-assessed its presentation of the impairment of intangible assets on the Consolidated Statements of Loss and Comprehensive Loss and determined that it should be presented as part of operating income (loss) instead of an item within other expenses, in accordance with IAS 1.  This correction was made by reclassifying impairment losses of $147,977 and $1,954,000 into operating income (loss) instead of other expenses for the years ended December 31, 2019 and 2018 respectively.  There was no impact on net loss for the year as a result of this restatement. The Restated Financial Statements are available on the Company’s SEDAR profile at www.sedar.com.

About Siyata

Siyata Mobile Inc. is a B2B global vendor of next generation Push-To-Talk over Cellular (PTT) devices and cellular booster systems. Its portfolio of in-vehicle and rugged smartphones enable first responders and enterprise workers to instantly communicate, over a nationwide cellular network of choice, to improve communication, increase situational awareness and save lives.

Its portfolio of enterprise cellular booster systems enables first responders and enterprise workers to amplify its cellular signal in remote areas, inside structural buildings where signals are weak and within vehicles for maximum cellular signal strength possible.

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

Investor Relations:
Arlen Hansen
Kin Communications
1-866-684-6730
[e-mail] 

Sales Department:
Glenn Kennedy, VP Sales
Siyata Mobile Inc.
416-892-1823
[e-mail] 

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. The forward-looking statements in this news release include statements relating to the Company’s expectations regarding the commencement and completion of its proposed Offering and the Consolidation. 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. These statements involve risks, estimates, assumptions and uncertainties that could cause actual results to differ materially from those expressed in these statements, including, among others, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering, as well as risks and uncertainties associated with the Company's business and finances in general. 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.