Montreal, Quebec--(Newsfile Corp. - January 6, 2021) - Usewalter, Inc. (TSXV: WLTR) (the "Company" or "Usewalter") is pleased to launch the new year by virtually opening trading on TMX Group's markets today, January 6th, 2020 at 9:30 a.m. ET. Usewalter's Chief Executive Officer, Mr. Peter Mazoff, was joined by his team to celebrate the Company's 2020 business pivot and rebrand to Usewalter.
"I'm proud to be opening the TMX Group markets in recognition of our recent business pivot and rebrand to Usewalter, which has led to meaningful growth and the continued expansion of our service offering across Canada," said Peter Mazoff, President and CEO. "Building on the momentum achieved over the past few months, we intend to continue building our client portfolio through 2021, further enhancing our capabilities and raising awareness about the opportunity Usewalter presents for investors."
Business Pivot and Rebrand
With the purchase of Walter Innovations Inc. ("Walter") in July 2020 the Company quickly established a presence in the fast-growing multi-residential real estate sector, complementing a legacy focus of servicing high population density areas. In November 2020, the Company began operating under the name 'Usewalter' and intends to put forth a motion to change its legal name (GOLO Mobile Inc.) at the next annual meeting of shareholders, anticipated in mid-2021.
In the latter half of 2020, Usewalter added well-known Montreal-area landmarks and projects including Habitat 67, Sentinel Gestion Immobilière, La Tour des Canadiens Phase 2, Le Solano Phase 4 and Le Laurent Clark Phase 2, and has significantly expanded the Company's presence across Canada. Since October, Usewalter has secured three meaningful partnerships with the following entities that significantly increase its exposure to new doors:
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Magex Technologies ("Magex") designs customized software for the North American real estate market and offers exposure to approximately 100,000 doors, primarily in Quebec.
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Condo Manager is a leader in integrated accounting, management and communication software for multi-residential buildings, providing exposure to approximately 225,000 units in Ontario and Western Canada.
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Location Locketgo Inc. ("Locketgo") provides turnkey micro storage solutions for multi-residential buildings, and residents in buildings that have Locketgo smart lockers are able to reserve lockers through the usewalter app.
In addition to these operational developments, the Company has successfully reduced its monthly burn rate by approximately 80% while adding seven developers plus a sales representative in Western Canada to better access this expanding market and position for the next phase of growth.
About Usewalter
Usewalter, Inc. (TSXV: WLTR) is a smart building technology SaaS solution for property managers and residents in high-density urban environments, delivered through its usewalter app. Designed as 'the one app no one can live without', usewalter enables efficient and cost-effective management of a building across the key areas of communication, Internet of Things management and commerce and delivery within multi-residential and commercial properties. Usewalter is positioned to leverage its first-mover advantage to access new markets, secure additional partners and further build revenue momentum. Usewalter has no debt and significant insider ownership with affiliates of Blackstone Group L.P. and the funds comprising CVC Capital Partners VI. Learn more at www.usewalter.com.
For Further Information:
Peter Mazoff, Chief Executive Officer
(514) 670-1228
ir@usewalter.com
or
Cindy Gray, Investor Relations
(403) 231-4372
info@5qir.com
Forward Looking Information
When used in this news release, the words "will", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in these forward-looking statements and information in this news release are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. The forward-looking statements and information in this news release include, without limitation: the Company's ability to execute its aggressive growth strategy to rapidly increase doors, expand geographically and enhance revenue; success being recognized as the app that no one can live without to manage their home and workplace; and growth of the multi-residential real estate sector.
With respect to the forward-looking statements contained in this news release, assumptions have been made regarding, among other things: the Company's ability to achieve, sustain or increase profitability, and fund its operations with existing capital and/or raise additional capital to fund operations; expenditures by the Company, merchants and customers in the Company's network; continuing demand for the Company's services and the pricing of such services; the ability of the Company to market its services successfully to existing and new merchants and customers; the economy generally; competition in the mobile delivery, smart building technology and multi-residential real estate industries; stability of the general regulatory environment in which the Company operates; and the absence of significant disruptions to the Company's operations such as may result from harsh weather, natural disaster, accident or other calamitous event.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the Company may require additional financing from time to time in order to continue its operations and financing may not be available when needed or on terms and conditions acceptable to the Company; there is no certainty that the Company will be able to realize the expected benefits or synergies of the Company's rebrand; and the other risk factors that are set forth under the heading "Risk Factors" in the Company's Management Information Circular dated July 23, 2020, which is available on SEDAR at www.sedar.com.
The Company cautions that the foregoing lists of assumptions and risks are not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing assumptions and risks and other uncertainties and potential events. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company does not undertake to publicly update or revise the forward-looking information contained in this news release to reflect new events or circumstances, except as required pursuant to applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) is responsible for the adequacy or accuracy of this press release.
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