CHARLESTON, SC AND VANCOUVER, May 29,
2020 /CNW/ - Last Mile Holdings Ltd. (formerly
OjO Electric Corp.) (the "Company" or "MILE")
(TSXV: MILE; OTC: AZNVF) announces that further to its
news release dated April 28, 2020,
the Company is expecting to file its audited financial statements
and management discussion and analysis for the year ended
December 31, 2019 (the "Annual
Filings") by the extension date of June 16,
2020 pursuant to exemptive relief granted by Canadian
securities regulatory authorities that allows it to delay the
filing of its annual documents required by sections 4.2 and 5.12(2)
of National Instrument 51-102 ("NI 51-102"). In
response to the coronavirus disease pandemic, securities regulatory
authorities in Canada have granted
a blanket exemption allowing issuers an additional 45 days to
complete their regulatory filings.
The Company does not believe that it will be able to file its
interim financial statements and management discussion and analysis
for the period ended March 31, 2020
(the "Interim Filings") by their usual 60-day deadline of
May 30, 2020, and will be relying on
the temporary 45-day extension pursuant to NI 51-502. The Company
is continuing to work diligently to file the Interim Filings by
July 14, 2020.
The Company's management and other insiders will be subject to a
trading black-out that reflects the principles in Section 9 of
National Policy 11-207 until its Annual and Interim Filings
are filed, which will be by June 16,
2020 and July 14, 2020,
respectively.
Other than as previously disclosed by the Company in news
releases, including the information herein, there are no other
material business developments since April
28, 2020, the date of the Company's news release announcing
the delay in filing of the Annual Filings.
For further information, please visit MILE's website at
lastmile-holdings.com or contact us at:
Email: investors@lastmile-holdings.com
Phone: +1-877-557-1053 ext. 116
About Last Mile Holdings
Last Mile Holdings (TSXV: MILE; OTC: AZNVF), formerly
OjO Electric, is one of the largest micro-mobility companies in the
U.S., offering the broadest product suite in the industry. Last
Mile has a portfolio of exclusive, long-term contracts to operate
shared mobility systems at over 70 locations including colleges and
municipalities under the OjO and Gotcha brands. The acquisition of
Gotcha in the first quarter of 2020 provides an expansive growth
pipeline and a portfolio of products including e-bikes, e-scooters,
e-trikes, and electric seated scooters. For more information, visit
lastmile-holdings.com
About Gotcha Mobility
Gotcha is a shared electric mobility company dedicated to
providing innovative products and technologies that get people out
of single-occupancy cars and safely onto efficient, sustainable
micro-transit products. The company operates e-bikes, e-scooters,
seated scooters, and e-trikes as transportation solutions tailored
to cities and universities across the US. Gotcha empowers
communities to lead happier, more productive lives through the
transformative power of affordable, accessible micro-transit. For
more information, visit ridegotcha.com.
Cautionary Statement Regarding Forward-Looking
Information
This news release includes certain "forward-looking statements"
and "forward-looking information" under applicable Canadian
securities legislation that are not historical facts.
Forward-looking statements involve risks, uncertainties, and other
factors that could cause actual results, performance, prospects,
and opportunities to differ materially from those expressed or
implied by such forward-looking statements. Forward-looking
statements in this news release include, but are not limited to,
statements with respect to: MILE and MILE's business and prospects
and the Company's objectives, goals or future plans, including the
planned deployment of its mobility units; and the business,
operations, and management of the Company. Forward-looking
statements are necessarily based on a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties and other factors which may cause
actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. Such
factors include, but are not limited to: the ability of MILE to
meet its deployment targets, access to sufficient mobility units,
meeting the requirement of the permits granted to MILE, general
business, economic and social uncertainties including the impact of
COVID-19; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments; delay
or failure to receive board, shareholder or regulatory approvals;
those additional risks set out in the Company's public documents
filed on SEDAR at www.sedar.com; and other discussed in this news
release. Accordingly, the forward-looking statements discussed in
this release, may not occur and could differ materially as a result
of these known and unknown risk factors and uncertainties affecting
the companies. Although the Company believes that the assumptions
and factors used in preparing the forward-looking statements are
reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the
disclosed time frames or at all. Except where required by law, the
Company disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events, or otherwise.
Reader Advisory
Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in the policies of the TSX-V) accepts
responsibility of the adequacy or accuracy of this release.
SOURCE Last Mile Holdings Ltd.