Siyata Announces Reverse Stock Split

Shareholders approve all proposals put forth at the Company's Annual and Special Meeting of Shareholders held on August 3^rd, 2023

VANCOUVER, BC / ACCESSWIRE / August 8, 2023 / Siyata Mobile Inc. (NASDAQ:SYTA)(NASDAQ:SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, today announced today that it will effect a 1-for-100 reverse stock split ("Reverse Stock Split") of its common share, no par value per share ("Common Share"). The Reverse Stock Split will become effective at 12:01 a.m. Eastern Time on Wednesday, August 9, 2023, and the Company's Common Share will commence trading on the Nasdaq Capital Market on a post-split basis at the opening of the market on August 9, 2023. The Company's Common Share will continue to trade on the Nasdaq Capital Market under the Company's existing trading symbol, "SYTA," and a new CUSIP number 83013Q 608 has been assigned as a result of the Reverse Stock Split.

The Reverse Stock Split is primarily intended to bring the Company into compliance with the $1.00 minimum bid price requirement for maintaining its listing on Nasdaq. There is no guarantee the Company will meet the minimum bid price requirement.

At the Company's Annual and Special Meeting of Shareholders held on August 3, 2023 (the "Annual Meeting"), the Company's shareholders approved a proposal to authorize a reverse stock split of the Company's Common Share at a ratio within the range of 1-for-1 to 1-for-120.

The 1-for-100 reverse stock split (the "Ratio") will automatically combine and convert 100 current shares of the Company's Common Share into one issued and outstanding new share of Common Share. Each outstanding stock option, share purchase warrant, and other convertible security of the Company convertible into pre-Reverse Stock Split Common Shares that has not been exercised or cancelled prior to the effective date of the implementation of the Reverse Stock Split will be adjusted pursuant to the terms of the instrument or plan governing such security on the same Reverse Stock Split Ratio described above, and each holder of such pre-Reverse Stock Split convertible securities will become entitled to receive post-Reverse Stock Split Common Shares pursuant to such adjusted terms. The Reverse Stock Split will not change the par value of the Common Share nor the authorized number of shares of Common Share, preferred stock or any series of preferred stock.