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/C O R R E C T I O N — Siyata Mobile Inc./

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In the news release, Siyata Mobile Announces Second Quarter Financial Results, issued 15-Aug-2024 by Siyata Mobile Inc. over PR Newswire, we are advised by the company that the section Key financial highlights for the three months ended June 30, 2024:, first bullet point, should read “Revenues were $1.9 million compared to $2.7 million for the three months ended June 30, 2023.” rather than “Revenues were $1.6 million compared to $2.7 million for the three months ended June 30, 2023.” In addition the second bullet point of the same section should read “Gross profit of $0.2 million, or 10.4% of revenue, compared to $0.8 million, or 29.7% of revenue…” rather than “Gross profit of ($144,000), or -8.9% of revenue, compared to $804,000, or 29.7% of revenue…” as originally issued inadvertently. The complete, corrected release follows:

Siyata Mobile Announces Second Quarter Financial Results

Management to Host Conference Call at 8:30 a.m. ET on Friday, August 16

VANCOUVER, BC, Aug. 15, 2024 /CNW/ — Siyata Mobile Inc. (Nasdaq: SYTA) (“Siyata” or the “Company”), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced its financial results for the three months ended June 30, 2024.

Marc Seelenfreund, CEO of Siyata, said, “Second quarter revenue growth was tempered in large part due to the timing of the delivery of customer orders. However, we have a backlog of more than $7 million of confirmed orders, which gives us strong visibility into the second half of 2024. As such, we expect the third quarter will be a break-out quarter with high double digit year-over-year growth as the delivery of orders accelerates. We have achieved ‘stocked’ status for our SD7 handsets with four of the largest North American cellular carriers and continue to tap into new vertical markets reinforcing a growth trajectory that extends into 2025 and beyond.”

Key financial highlights for the three months ended June 30, 2024:

Revenues were $1.9 million compared to $2.7 million for the three months ended June 30, 2023.Gross profit of $0.2 million, or 10.4% of revenue, compared to $0.8 million, or 29.7% of revenue, in the same period last year, primarily due to a one-time heavily discounted transaction to an international reseller which we believe will positively impact revenue in second half of 2024.Net loss was $12.9 million as compared to a net loss of $2.3 million in the same period in the prior year, primarily due to a non cash recognition of the differences between fair value of capital raises compared to cash received resulting in a $6.7 million additional loss, as well as a $1.0 million loss due to transaction costs incurred for the financings and $2.0 million of marketing costs on investor awareness of our Company.Adjusted EBITDA was ($3.8 million), versus ($2.0 million) in the prior year.

Liquidity and Capital Resources

As of June 30, 2024, the Company had a cash balance of $2.7 million compared to $0.9 million as of December 31, 2023.

During the second quarter, the company closed two public offerings of common shares and/or pre-funded warrants to purchase common shares for gross proceeds of approximately $10 million in aggregate.

Conference Call Details

The Company will host a conference call at 8:30 a.m. ET on Friday, August 16, 2024 to discuss its second quarter 2024 financial results.

Date: Friday, August 16, 2024
Time: 8:30 a.m. Eastern Time/5:30 a.m. Pacific Time
North America dial-in number: 888-506-0062
International toll-free dial-in number: 973-528-0011
Access Code: 922573

A replay will be available until August 30, 2024. To access the replay, dial +1 (877) 481-4010 or +1 (919) 882-2331. When prompted, enter Passcode 51033.

The call will also be available over the Internet and accessible at: https://www.webcaster4.com/Webcast/Page/2988/51033

About Siyata Mobile

Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.

In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.

Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.

Siyata’s common shares trade on the Nasdaq under the symbol “SYTA”.

Visit www.siyata.net and unidencellular.com to learn more.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata’s current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Siyata’s filings with the Securities and Exchange Commission (“SEC”), and in any subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release. 

— Tables Follow —

Siyata Mobile Inc.

Condensed Consolidated Statements of Financial Position

(Expressed in US dollars)

USD

USD

June 30,
2024

December 31,
2023

Assets

Current

Cash

2,653,226

898,771

Trade And Other Receivables

1,508,799

1,181,257

Prepaid Expenses

2,244,232

29,673

Inventory

2,299,647

3,544,519

Advance To Suppliers

891,144

1,048,227

9,597,048

6,702,447

Long Term Receivable

142,904

147,100

Investment in Securities

1,000,000

–

Right Of Use Assets

500,849

630,793

Equipment

157,022

175,335

Intangible Assets

7,785,176

7,856,730

Total Assets

19,182,999

15,512,405

Liabilities And Shareholders’ Equity

Current

Loans to Financial Institutions

619,068

89,298

Sale of future receipts

2,152,375

1,467,899

Accounts Payable and Accrued Liabilities

4,087,199

3,449,103

Deferred Revenue

3,182

2,025

Short Term Lease Liability

243,214

254,668

Warrant Liability and Preferred Shares

10,755,482

156,433

17,860,520

5,419,426

Long Term Lease Liability

284,393

385,639

284,393

385,639

Total Liabilities

18,144,913

5,805,065

Shareholders’ Equity

Share Capital

92,565,727

85,714,727

Reserves

14,845,086

14,644,200

Accumulated Other Comprehensive Loss

98,870

98,870

Deficit

(106,471,597)

(90,750,457)

1,038,086

9,707,340

Total Liabilities And Shareholders’ Equity

19,182,999

15,512,405

 

Siyata Mobile Inc.

Condensed Consolidated Statements of Loss and Comprehensive Loss

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

Three Months Ended

Six Months Ended

June 30,
2024

June 30,
2023

June 30,
2024

June 30,
2023

Revenue

$

1,890,968

$

2,710,717

$

4,248,847

$

4,513,354

Cost Of Sales

(1,694,154)

(1,906,227)

(3,188,616)

(3,212,347)

Gross Profit

196,814

804,490

1,060,231

1,301,007

10.4

%

29.7

%

25.0

%

28.8

%

Expenses

Amortization And Depreciation

433,129

453,499

837,787

855,139

Development Expenses

–

31,465

35,000

85,450

Selling And Marketing

954,388

987,803

2,102,406

1,991,168

Equity promotion and marketing

2,000,000

250,000

2,150,000

591,200

General And Administrative

1,033,301

1,503,382

2,071,853

2,554,612

Bad Debts (Recovered)

–

10,148

18,858

10,148

Share-Based Payments

83,762

260,705

200,886

571,533

Total Operating Expenses

4,504,580

3,497,002

7,416,790

6,659,250

Net Operating Loss

(4,307,766)

(2,692,512)

(6,356,559)

(5,358,243)

Other Expenses

Finance Expense

942,283

41,251

1,722,039

75,349

Loss on issuance

6,129,282

–

6,129,282

–

Loss on extinguishment of financial liability

601,163

–

601,163

–

Foreign Exchange

(1,706)

(78,762)

(10,651)

(78,599)

Change In Fair Value of Warrant Liability

(31,986)

(321,384)

(54,570)

1,856,623

Transaction Costs

977,318

–

977,318

–

Total Other Expenses

8,616,354

(358,895)

9,364,581

1,853,373

Net Loss for The Period

(12,924,120)

(2,333,617)

(15,721,140)

(7,211,616)

Comprehensive Loss for The Period

(12,924,120)

(2,333,617)

(15,721,140)

(7,211,616)

Weighted average shares (after 18 to 1 reverse split)

108,922

5,417

70,307

4,691

Basic and diluted loss per share

(118.65)

(430.78)

(223.61)

(1,537.33)

 

Reconciliation to Adjusted EBITDA

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

Three Months Ended

Six Months Ended

June 30,
2024

June 30,
2023

June 30,
2024

June 30,
2023

Net operating loss

(4,307,766)

(2,692,512)

(6,356,559)

(5,358,243)

addback

Amortization And Depreciation

433,129

453,499

837,787

855,139

Share-Based Payments

83,762

260,705

200,886

571,533

Adjusted EBITDA

(3,790,875)

(1,978,308)

(5,317,886)

(3,931,571)

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/siyata-mobile-announces-second-quarter-financial-results-302224050.html

SOURCE Siyata Mobile Inc.

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11:11 Systems’ Research Finds 93% of ANZ IT Leaders Report Rising Infrastructure Costs, Cyberattacks Are Top Data Centre Concern

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New study reveals rising costs, cyber risk and complexity reshaping IT resilience strategies for 2027

SYDNEY, Nov. 13, 2026 /PRNewswire/ — 11:11 Systems, a leading managed infrastructure solutions provider, today announced results from its 2027 State of IT Infrastructure Resilience study. The global survey of more than 700 IT leaders finds that rising costs, expanding complexity and growing cyber risk are forcing organisations to rethink how they build, protect and recover critical infrastructure.

The survey shows that Australia and New Zealand (ANZ) IT leaders are making infrastructure and budget decisions with two big worries in mind: infrastructure costs keep climbing and cyber threats aren’t going away. Identity platforms and production environments top the list of leading data centre concerns in the region, while hybrid complexity and inconsistent data protection make it difficult to maintain a reliable recovery plan.

AI adds another layer of urgency. Nearly all ANZ respondents are either investing in or evaluating AI-enhanced IT and security tools, but fewer than one in five report that AI-enhanced backup or disaster recovery is operational today. There’s a clear gap between AI ambition and recovery readiness, and it tells us something important: focus investment on capabilities that make resilience easier to see, test and put into action.

ANZ Key findings include:

Infrastructure costs are rising significantly. 93% of respondents saw an increase in total data centre infrastructure costs over the past 12 months, with an average increase of 14% year-over-year.Cyber risk and infrastructure costs are converging. 48% of respondents name cyberattacks as the top concern in their data centres, and nearly three-quarters of respondents (74%) expect data protection, backup and recovery budgets to increase in 2027.Cyberattacks remain common and costly. 76% of IT leaders experienced one or more attacks in the last 12 months, with 25% of respondents experiencing three or more. 43% also report the average cost of one hour of downtime from a cyberattack was more than $250,000.Complexity is the number one barrier to resilience. 56% identified the complexity of planning for cyber incident recovery as their greatest challenge, followed by lack of in-house expertise and insufficient budgets.AI investment is outpacing readiness. 63% are investing in AI-enhanced IT or security toolsets, but only 18% have operational AI-enhanced backup or disaster recovery capabilities.

“This research quantifies what IT leaders are already feeling; the challenges are stacking up faster than the budgets,” said Jason Buffington, principal analyst and founder of Data Protection Matters, which conducted the research. “Cyberattacks remain an ever-present threat, and now organisations have to govern their own AI while defending against the attackers’ AI, all while rising hardware costs squeeze budgets that were already tight. For many organisations, the way through that storm is leaning on expertise as-a-service to reduce complexity, while modernising how they protect and recover their data.”

Marc Beder, Executive General Manager, EMEA and APAC at 11:11 Systems, said, “Resilience requires more than investing in new technology. Organisations need to understand which systems are most critical to their operations, how quickly they need to recover and whether their recovery plans will work under pressure. With many businesses relying on virtualised environments such as VMware to run critical applications and workloads, protecting the underlying infrastructure and ensuring these systems can be recovered quickly is essential. As IT environments become more complex, regular testing and a clear understanding of recovery capabilities can help organisations identify gaps and ensure their infrastructure is ready to support business operations when disruption occurs.”

The study was commissioned by 11:11 Systems and conducted by Data Protection Matters (DPM), an independent analyst firm specialising in data protection, backup, cyber resilience, business continuity, disaster recovery and BaaS/DRaaS. The survey included more than 700 IT leaders at organisations across EMEA, the Americas and APAC. Respondents included both decision-makers and implementers responsible for IT infrastructure, cybersecurity or backup and disaster recovery.

The full 2027 State of IT Infrastructure Resilience (APAC) report is available here.

About 11:11 Systems

11:11 Systems is a managed infrastructure solutions provider that empowers customers to modernise, protect, and manage mission-critical applications and data through 11:11’s resilient cloud platform. Learn more at 11:11 Systems and follow 11:11 on LinkedIn.

View original content:https://www.prnewswire.com/apac/news-releases/1111-systems-research-finds-93-of-anz-it-leaders-report-rising-infrastructure-costs-cyberattacks-are-top-data-centre-concern-302938466.html

SOURCE 11:11 Systems

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Coremail Helps Thai Businesses Manage High-Volume Email Delivery

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BANGKOK, Nov. 13, 2026 /PRNewswire/ — As Thailand’s digital economy continues to grow, businesses increasingly rely on email to deliver essential information to customers. From banking notifications and financial statements to order confirmations and service updates, delayed or failed emails can disrupt operations, affect customer experience and place additional pressure on IT teams.

Coremail, an enterprise email technology provider with over 27 years of experience, is addressing these challenges through its Coremail Delivery System, a dedicated platform designed to support large-scale business email communications.

For organizations handling large volumes of business emails, managing delivery alongside everyday employee communications can create operational challenges. Heavy sending workloads may affect system performance, while limited visibility into delivery results makes it harder to identify problems and respond promptly.

Coremail Delivery System is designed specifically for high-volume business email delivery, helping organizations manage large-scale sending tasks more efficiently while reducing potential pressure on their primary email systems.

The platform supports immediate and scheduled delivery, flexible sending controls and detailed performance reporting. Administrators can track delivery performance, analyze delivery results and adjust sending strategies based on operational requirements. Its high-availability architecture is designed to reduce single points of failure and support service continuity in the event of system disruptions.

These capabilities are particularly relevant to Thailand’s financial services sector, where timely delivery of account statements, transaction notifications and customer notices is essential. E-commerce businesses can use the system for order confirmations, promotional campaigns and customer updates, while government agencies and large enterprises can manage public announcements and other high-volume communications.

For organizations with international operations, Coremail Secure Global Relay provides a complementary solution for cross-border email communications. Through its global relay network and intelligent routing, the service helps businesses improve email connectivity with overseas customers, suppliers and partners.

Coremail also supports customers through its established subsidiary in Thailand. Its local team provides deployment guidance, technical assistance and ongoing service coordination, working closely with businesses and partners to address local requirements and support long-term operations.

Founded in 1999, Coremail serves more than 25,000 organizations and over one billion end users worldwide. The company continues to develop secure, scalable email technologies for businesses across Thailand, Southeast Asia and international markets.

For more information, visit www.coremail.co.th.

View original content:https://www.prnewswire.com/apac/news-releases/coremail-helps-thai-businesses-manage-high-volume-email-delivery-302937387.html

SOURCE Coremail

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Martello Reports Financial Results for the Second Quarter of the 2027 Fiscal Year

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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./

 Continued profitability and strengthening operating cash flow through the first half of FY27 support investment in Mitel Performance Analytics (MPA) growth and the pursuit of new high-value innovation opportunities.

Strengthened operating cash flow in Q2 FY27, reflecting the Company’s leaner operating model and continued financial discipline.Profitable for the third sequential quarter, reflecting a turnaround compared to the prior year, establishing a foundation for investment in growth initiatives.Advanced product innovation and ideation initiatives in Q2 FY27, using AI-augmented development to accelerate prototyping and software delivery at lower cost. Deepening integration with Mitel’s innovation and product teams to align the MPA roadmap with Mitel’s strategy, including support for Mitel Workforce Experience (WX) and AI-driven insights that position MPA as a proactive service assurance solution, detecting and enabling resolution of communications issues before they affect users.Advanced joint growth initiatives with Mitel, including co-developing new packaging and go-to-market models for MPA, and strengthening ecosystem presence through collaboration at Mitel events.

OTTAWA, ON, Nov. 12, 2026 /CNW/ — Martello Technologies Group Inc., (“Martello” or the “Company”) (TSXV: MTLO), a provider of proactive service assurance solutions for unified communications and collaboration (UCC) systems, today released financial results for the three months ended September 30, 2026.

“In the second quarter of FY27, Martello continued to focus on execution of its strategic priorities”, said Jim Clark, Chief Executive Officer of Martello. “We advanced joint initiatives with Mitel to expand how MPA is packaged and offered to partners and customers and progressed new AI capabilities for MPA; we also continued to validate targeted market opportunities identified through our ongoing discovery framework. We’re significantly advancing AI integration in development, resulting in faster cycles with excellent quality. Our strengthening positive operating cash flow and a leaner operating model provides resources to grow our investment in product innovation and development cycle time. We remain focused on building long-term shareholder value through disciplined execution, targeted growth investments and continued operational efficiency”.

“Martello is shifting from transformation to building for growth”, said Terence Matthews, Chairman of Martello. “Reliable communications are increasingly critical for organizations, and the Company’s deep alignment with Mitel together with its ongoing discovery practice places it at the center of that need. The Board is confident in the disciplined approach and believes the combination of a solid financial foundation and a focused strategy positions Martello to create long-term value for shareholders”.

Financial Highlights

September 30,

September 30,

September 30,

September 30,

(in 000’s)

2026

2025

2026

2025

(Three months ended)

(Six months ended)

Sales

$

2,814

2,999

5,684

6,087

Cost of Goods Sold

330

466

651

927

Gross Margin

2,483

2,533

5,032

5,160

Gross Margin

%

88.3 %

84.5 %

88.5 %

84.8 %

Operating Expenses

1,803

9,611

3,554

14,140

Income (Loss) from operations

680

(7,078)

1,479

(8,980)

Other expense

(509)

(374)

(915)

(604)

Income (Loss) before income tax

171

(7,452)

563

(9,584)

Income tax expense

(4)

(2)

(4)

(2)

Net income (loss)

168

(7,455)

560

(9,586)

Total Comprehensive Income (Loss)

$

255

(7,688)

690

(9,621)

EBITDA (1)

$

660

(6,517)

1,534

(7,672)

Adjusted EBITDA (1)

$

869

(759)

1,751

(1,953)

(1) Non-IFRS measure.  See “Non-IFRS Financial Measures”.

Q2 FY27 Financial Highlights

Revenue was $2.81 million in Q2 FY27, representing a 6% decrease compared to $3.00 million in the same period of the prior year. The decline was primarily due to lower renewal rates on sunsetting legacy product offerings and customer churn in Vantage DX within the Modern Workplace Optimization (MWO) business segment, partially offset by an increase in the Mitel business segment revenue.  Revenue from the Mitel business segment increased by 12% to $1.66 million in Q2 FY27 compared to $1.49 million in the same period of the prior year. The increase was driven by pricing adjustments and growth in subscriptions across certain Mitel product offerings, partially offset by the discontinuation of certain Mitel products that incorporated MPA. As Mitel and Martello negotiate a new contract, the companies are exploring new go-to-market models that represent potential mutual growth opportunities. The Mitel business continues to be a significant source of revenue and gross margin, representing 59% of total revenues in Q2 FY27 compared to 50% in Q2 FY26. Gross margin in the Mitel business segment remained strong and consistent at 97% in Q2 FY27 (compared to 96% in Q2 FY26).The MWO business segment, which includes Vantage DX and sunsetting legacy products, contributed 41% of revenues in Q2 FY27, compared to 50% in the same period last year. MWO revenue declined by $0.36 million (24%) compared to Q2 FY26,  reflecting the continued sunsetting of legacy products and some Vantage DX customer churn.98% of total revenues were recurring in Q2 FY27, compared with 97% in the same period in the prior year.Monthly Recurring Revenue (MRR) totaled $0.92 million in Q2 FY27, a decrease of $0.06 million (6%) compared to $0.98 million in Q2 FY26. The decline was primarily driven by lower renewal rates on sunsetting legacy product offerings. This was partially offset by growth in the Mitel segment as described above.Gross margin as a percentage of revenue was 88.3% in Q2 FY27 compared to 84.5% in Q2 FY26. This improvement was driven by lower product delivery and support costs following the Company’s operational restructuring in Q3 FY26 as well as lower hosting costs, which collectively more than offset the impact of lower revenue.Operating expenses decreased to $1.80 million in Q2 FY27 from $9.61 million in Q2 FY26. The decrease primarily reflected a $5.91 million impairment of intangible assets related to the MWO segment recognized in the prior year. Excluding this impairment, operating expenses decreased by $1.90 million (51%), driven mainly by lower costs following the operational restructuring in Q3 FY26. Ongoing cost optimization initiatives also contributed to the year-over-year improvement in operating performance.Income from operations was $0.68 million in Q2 FY27 compared to a loss of $7.08 million in the same period of FY26. representing a year-over-year improvement of $7.76 million. The improvement primarily reflected the one-time impairment of intangible assets recognized in the same quarter of the prior year and lower operating expenses, partially offset by lower revenue, as discussed above.Other expense increased to $0.51 million in Q2 FY27 from $0.37 million in Q2 FY26, primarily due to a foreign exchange loss of $0.03 million compared to a gain of $0.10 million in the prior-year quarter. Interest expense on the Company’s loan, which was $0.42 million in both periods, remained the largest component of other expense.Net income for Q2 FY27 was $0.17 million, compared to a loss of $7.45 million in Q2 FY26, representing an increase of $7.62 million. Stronger profitability in Q2 FY27 reflects the changes discussed above partially offset by a foreign exchange loss of $0.03 million compared to a gain of $0.10 million in Q2 FY26.EBITDA (a non-IFRS measure) improved to $0.66 million in Q2 FY27 from a loss of $6.52 million in Q2 FY26, which included a $5.91 million impairment of intangible assets. Excluding the impairment, EBITDA improved by $1.27 million, driven by lower headcount and vendor costs following the operational restructuring.Adjusted EBITDA (a non-IFRS measure) reached positive $0.87 million in Q2 FY27, a meaningful turnaround from a loss of $0.76M in Q2 FY26, driven by the operational restructuring in Q3 FY26 and disciplined financial management.

The financial statements, notes and Management Discussion and Analysis (“MD&A”) are available under the Company’s profile on SEDAR+ at www.sedarplus.ca, and on Martello’s website at www.martellotech.com. The financial statements include the wholly-owned subsidiaries of Martello. All amounts are reported in Canadian dollars. MRR is a non-IFRS measure, representing average monthly recurring revenues earned in a fiscal quarter. 

This press release does not constitute an offer of the securities of the Company for sale in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, (the “1933 Act”) as amended, and may not be offered or sold within the United States absent registration or an exemption from registration under the 1933 Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

About Martello Technologies Group

Martello (TSXV: MTLO) is a technology company that provides proactive service assurance solutions for unified communications and collaboration (UCC) platforms including Mitel and Microsoft Teams. Martello is a public company headquartered in Ottawa, Canada. Learn more at http://www.martellotech.com

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

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods and ” includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including expectations regarding disciplined financial management resulting in investment in growth initiatives, the expectation that artificial intelligence (AI)-augmented development will accelerate rapid prototyping and software delivery at lower cost, the aim to build long-term shareholder value through disciplined execution, targeted growth investments and continued operational efficiency, the expectation that a new contract will be negotiated between Martello and Mitel, and that new go-to-market models will represent potential mutual growth opportunities. 

Forward-looking information is neither a statement of historical fact nor assurance of future performance. Instead, forward-looking information is based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking information relates to the future, such statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking information. Therefore, you should not rely on any of the forward-looking information. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking information include, among others, the following:

Continued volatility in the capital or credit markets and the uncertainty of additional financing.Our ability to obtain financing on acceptable terms and the impact of increased funding costs on our financial position.Changes in customer demand.Disruptions to our technology network including computer systems and software, as well as natural events such as severe weather, fires, floods and earthquakes or man-made or other disruptions of our operating systems, structures or equipment.Delayed purchase timelines and disruptions to customer budgets, as well as Martello’s ability to maintain business continuity.and other risks disclosed in the Company’s filings with Canadian Securities Regulators, which are available on the Company’s profile on SEDAR+ at www.sedarplus.ca.

Any forward-looking information provided by the Company in this news release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

SOURCE Martello Technologies Group Inc.

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