(Montreal, November 3, 2020) GOLO Mobile Inc. (TSXV: GOLO) (“GOLO” or “the Company”) today announced it has rebranded its corporate identity and service offering to Usewalter, registered “Usewalter” as a business name and will begin to conduct business under the name of Usewalter immediately. In addition, the Company’s ticker symbol will change to “WLTR” on the TSX Venture Exchange (“TSXV”) with an expected effective date of Monday, November 9, 2020. There is no action required by current shareholders in connection with this change, and no change has been made to the Company’s share capital. There is no change in the Company’s legal name nor CUSIP number and no consolidation of capital. The Company intends to put forth a motion to change GOLO’s legal name to “Usewalter Inc.”, or such other name as determined by the Company at the Company’s next annual meeting of shareholders, anticipated in mid-2021.
Concurrent with the Company’s rebrand, Usewalter also unveiled a new logo, corporate presentation and updated website to reflect its new corporate identity. To learn more visit www.usewalter.com.
“Since acquiring Walter, we’ve been able to increase our Smart Building Technology offering and we needed a corporate brand and identity to reflect this growth and the upside potential we see going forward,” said Peter Mazoff, President and CEO. “Usewalter will be a reminder to property managers, residents and commercial tenants that ‘Usewalter’ is the one app that no one can live without to effectively manage their home and workplace.”
GOLO purchased Walter Innovations Inc. (“Walter”) in July 2020 in order to quickly establish a presence in the fast-growing multi-residential real estate sector and complement its legacy focus of servicing high population density areas. Since integrating Walter into the business, the Company has significantly increased its presence in the multi-residential real estate market through the additions of well-known Montreal-area landmarks and projects such as: Habitat 67, Sentinel Gestion Immobilière, La Tour des Canadiens Phase 2, Le Solano Phase 4 and Le Laurent Clark Phase 2.
Outside of the Montreal-area, the Company has significantly expanded its presence in Ontario and Western Canada through a recent partnership with Condo Manager, a leader in integrated accounting, management and communication software for multi-residential buildings. To help support this next phase of growth, the Company added seven developers and a sales representative in Western Canada which will facilitate efforts to better penetrate this large and growing market.
Usewalter (TSXV: WLTR) is a smart building technology SaaS solution for property managers and residents in high-density urban environments. 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 is publicly traded on the TSXV and its controlling shareholder is controlled indirectly by 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
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 expected effective date of the Company’s ticker symbol change to “WLTR” on the TSXV; the Company’s intention to put forth a name change motion at the Company’s next annual meeting of shareholders; the anticipated date of the next annual meeting of shareholders; 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.
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