#Canada #Vancouver #Siyata Mobile #Merger Agreement #Core Gaming

Siyata Mobile's Strategic Merger with Core Gaming

On February 28, 2025, Siyata Mobile Inc. (Nasdaq: SYTA), known for its Push-to-Talk over Cellular (PoC) devices, elucidated important terms pertaining to its merger with Core Gaming, a mobile game developer. This merger announcement marks a crucial step towards the growth and consolidation of both companies in their respective fields.

Key Highlights of the Merger Agreement

The merger, initially disclosed on February 26, has been examined closely by Siyata's Board of Directors. They received a fairness opinion from ValueScope, LLC, confirming that the financial aspects of the merger are favorable. The valuation of Core Gaming stands at an impressive $160 million, and this will shape the future trajectory of Siyata and its stakeholders.

One of the standout features of this merger is the allowance for legacy shareholders of Siyata. Upon the merger's completion, these shareholders will receive additional shares in the form of a special stock dividend, designed to ensure they retain at least a 10% ownership stake in the newly formed entity. This aspect of the agreement not only reinforces their confidence in the merger but also protects their interests amid market volatility.

Focus on Future Growth

The merger is anticipated to conclude in the second quarter of 2025, pending standard regulatory approvals and the fulfillment of customary closing conditions. Marc Seelenfreund, CEO of Siyata Mobile, expressed the company's excitement about this partnership, emphasizing the potential for value creation for shareholders through the collaboration with Core Gaming.

Core Gaming, based in Miami, is recognized for its innovative, AI-driven mobile games targeted at a global audience. Since its inception, the company has developed over 2,000 games, with a user base exceeding 40 million individuals across 140 countries. This background positions Core Gaming as a significant player in the entertainment field, making the merger a strategic match for Siyata Mobile’s technological prowess in communication tools.

Enhanced Value Proposition

Siyata Mobile's primary mission revolves around developing next-generation PoC handsets and their associated accessories tailored for industries such as emergency services and enterprise communication. The synergies expected from this merger will allow Siyata not just to enhance its product portfolio but also to explore new avenues in mobile gaming and entertainment. By extending their offerings, Siyata aims to address the growing demand for efficient communication solutions in a wide array of sectors, including public safety, healthcare, and utilities.

Conclusion: A New Era for Siyata Mobile

As the merger progresses, both companies are optimistic about the collaborative opportunities that lie ahead. For Siyata Mobile, this represents a pivotal opportunity to broaden its horizons and potentially lead in the converging sectors of telecommunications and mobile entertainment. The upcoming merger with Core Gaming is more than just a business transaction; it's a strategic alliance aimed at fostering technological innovations and delivering enhanced value to shareholders.

In conclusion, the clarity provided by Siyata Mobile about the merger details lays a robust foundation for the impending collaboration with Core Gaming. Investors and customers alike will be keenly watching how this partnership unfolds and its impact on the future of both companies.