(Montreal, November 9, 2020) Usewalter (TSXV: WLTR) (“the Company”) today announced its common shares will begin trading on the TSX Venture Exchange (“TSXV”) under the ticker symbol “WLTR” effective at the market open today, November 9, 2020. The stock ticker symbol change was made in conjunction with the Company’s strategic pivot and corporate rebrand to Usewalter announced last week. As part of this pivot, the Company also unveiled a new logo, corporate presentation and updated website to reflect its new corporate identity and strategic direction:
“Trading as WLTR represents the final stage of our corporate pivot to Usewalter and better aligns our presence in the capital markets with our core business as a SaaS-based smart building technology solution,” said Peter Mazoff, President and CEO. “With continued execution of our aggressive growth strategy to rapidly increase doors, expand geographically and enhance revenue, we look forward to usewalter being increasingly recognized as the app that no one can live without to manage their home and workplace.”
The Company purchased Walter Innovations Inc. (“Walter”) in July 2020 in order to quickly establish a meaningful presence in the fast-growing multi-residential real estate sector. Since integrating Walter into the business, the Company has significantly increased its presence in this 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.
Over the past month, Usewalter has also secured two significant agreements that further demonstrate the Company’s ability to leverage existing relationships and execute a successful client acquisition strategy. In early November, Usewalter executed an agreement with Magex Technologies (“Magex”), which is expected to significantly expand the Company’s reach with the inclusion of Magex’s approximately 100,000 doors, primarily located in the province of Quebec. In mid-October, Usewalter announced a partnership with Condo Manager, a leader in integrated accounting, management and communication software for multi‐residential buildings, whereby the Company unveiled its innovative usewalter app to Condo Manager’s approximately 225,000 units in Ontario and Western Canada.
Usewalter (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
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.