CHARLESTON, SC and VANCOUVER, April 28,
2020 /CNW/ - Last Mile Holdings Ltd. (formerly OjO Electric
Corp.) (the "Company" or "MILE")
(TSXV: MILE; OTC: AZNVF) announces the postponement of
filing its annual financial statements and management's discussion
and analysis for the year ended December 31,
2019 due to logistics and delays caused by the COVID-19
pandemic.
The Company is relying on exemptive relief recently 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 by April 29, 2020. 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.
MILE anticipates that its 2019 annual documents will be
available for filing at its earliest opportunity, which is expected
to occur on or before June 16,
2020. Until such time as the 2019 annual documents are filed,
the Company's management and insiders are subject to a trading
blackout that reflects the principals contained in section 9 of
National Policy 11-207 – Failure-to-File Cease Trade Orders and
Revocations in Multiple Jurisdictions.
Other than as previously disclosed by the Company in news
releases, there have been no material business developments since
the date of the last interim financial statements filed on
November 29, 2019, copies of which
are available on SEDAR at www.sedar.com. The Company will be
providing an update news release on the status of filing its
December 31, 2019 audited financial
statements and its March 31, 2020
first quarter unaudited financial statements by May 29, 2020.
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 35 colleges and 45 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.
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; 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.