Siyata Mobile Announces Closing of $1.6 Million Public Offering of Common Shares and Pre-Funded Warrants

Siyata Mobile Inc. (NASDAQ: SYTA, SYTAW) (“Siyata” or the “Company”), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced the closing of its previously announced public offering of 1,870,000 common shares and 530,000 pre-funded warrants to purchase common shares at a public offering price of $0.65 per share and $0.64 per pre-funded warrant. The gross proceeds of the offering to the Company, before deducing placement agent fees and commissions and other offering expenses, and excluding proceeds to the Company, if any, that may result from the future exercise of the pre-funded warrants issued in the offering, were approximately $1.6 million. The Company intends to use the proceeds from the current offering for working capital and general corporate purposes.

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