Siyata Mobile Announces Pricing of $1.6 Million Public Offering of Common Shares

Siyata Mobile Inc. (Nasdaq:SYTA)(Nasdaq:SYTAW) (“Siyata” or the “Company”), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced the pricing of a public offering of 2,400,000 common shares (or pre-funded warrants to purchase common shares in lieu thereof) at a public offering price of $0.65 per share. The gross proceeds of the offering to the Company, before deducing placement agent fees and commissions and other offering expenses, are expected to be approximately $1.6 million. The Company intends to use the proceeds from the current offering for working capital and general corporate purposes.

The offering is expected to close on or about October 31, 2023, subject to customary closing conditions.

Maxim Group LLC is acting as the sole placement agent in connection with the offering.

The offering is being conducted pursuant to the Company’s registration statement on Form F-1, as amended, (File No. 333-274927) filed with the Securities and Exchange Commission (the “SEC”) on October 10, 2023, as amended, and subsequently declared effective by the SEC on October 27, 2023. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022,Attention: Syndicate Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.