Motos America Announces New Ticker Symbol and Reverse Stock Split is Now Effective
Motos America Inc. (OTC PINK:MTAM) announced the effectiveness of its new ticker symbol and a 1:300 reverse stock split for its common shares as of July 19, 2022. CEO Vance Harrison highlighted that these corporate actions aim to enhance branding and position the stock for a potential uplisting. The company is set to acquire three dealerships in Florida, potentially doubling annual sales. Additionally, Motos America has secured a new BMW dealership in Roswell, GA, as part of its strategy to consolidate luxury motorcycle dealerships in the U.S.
- Acquisition of 3 dealerships in Florida expected to nearly double annual sales.
- Awarded a new BMW motorcycle dealership in Roswell, GA.
- Corporate actions aimed at enhancing branding and positioning for future uplisting.
- None.
SALT LAKE CITY, UT / ACCESSWIRE /- July 20, 2022 / Motos America Inc. (OTC PINK:MTAM) (the "Company"), a publicly-traded motorcycle dealership group, announced today that its new ticker symbol of MTAM and a reverse stock split of 1:300 for its common shares are now effective.
"The effectiveness of our new ticker symbol and reverse stock split marks an incredibly exciting day for Motos America," said Vance Harrison, Chief Executive Officer of Motos America. "Both corporate actions are intended to bolster our corporate branding and better position the stock for a future uplisting and an expansion of our shareholder base."
Mr. Harrison continued, "Motos America also is making significant progress in other areas toward the growth of our business throughout the country. We expect to close on the acquisition of 3 dealerships in Florida in the coming weeks which is expected to result in nearly doubling our sales on an annualized basis. In addition, we recently announced that the Company had been officially awarded an open point BMW motorcycle dealership to be located in Roswell, GA, a suburb of Atlanta.
"As we continue to implement our growth and consolidation strategy for rolling up luxury, European brand motorcycle dealerships throughout the U.S., we are encouraged by the increasing interest from institutional and accredited investors. Motos America is in the process of a new securities offering under Rule 506(c), as previously announced, for the sale of stock and convertible bonds. The proceeds from this offering will primarily be used for further building out our dealership network."
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, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Corporate Actions Effective as at July 19, 2022
- 1:300 reverse split of Common Voting Shares
- A new CUSIP number for the post-split shares: 94846P204
- New ticker symbol of MTAM - replacing temporary ticker symbol WECT-D
About Motos America
Motos America Inc. (OTC: WECT-D - (pending symbol change to MTAM)) is a premium European motorcycle dealership consolidation company. In Nov. 2021, the company changed its name from "Weconnect Tech International, Inc." to "Motos America Inc." When it changed its name, the company adopted a new business model. Motos America purchases and operates powersports dealerships, with an emphasis on European luxury motorcycle brands, including BMW Motorcycles, Triumph Motorcycles and Ducati Motorcycles. The company believes the motorcycle dealership industry is primed for consolidation, similar to what has occurred in the automotive industry. Motos America believes that consolidation in this niche will bring about the same advantages of scale associated with automotive dealer group consolidations. Namely, better operating results driven by professional management, branding and marketing opportunities, and volume purchasing.
For more information, please contact:
Motos America Inc.
Jordan Darrow, Investor Relations
jordan@motosamerica.com
(512) 551-9296
This Press Release contains forward-looking statements within the meaning Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties, including, among other things, statements regarding our business strategy, future revenues and anticipated costs and expenses. Such forward-looking statements include, among others, those statements including the words "expects," "anticipates," "intends," "believes" and similar language. Our actual results may differ significantly from those projected in the forward-looking statements. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this document. Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.
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SOURCE: Motos America Inc.
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FAQ
What does the ticker symbol MTAM represent?
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