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OjO Electric Launches Rideshare Program in Memphis

Seated Scooters Make City Debut in Partnership with Explore Bike Share

OXNARD, CA and VANCOUVER , Oct. 23, 2019 /CNW/ - OjO Electric Corp. (the "Company" or "OjO") (TSXV: OJO), a Light Electric Vehicle (LEV) mobility solutions company, is pleased to announce the launch of its electric rideshare scooter service in Memphis, TN. In partnership with the non-profit organization Explore Bike Share, an initial fleet of 250 of OjO's V2 seated scooters have now been deployed in Memphis and are available at Explore Bike stations and virtual docking stations throughout the city. OjO's V2 scooter features integrated GPS technology that enables unique virtual and physical parking solutions in order to improve operational efficiencies and reduce sidewalk clutter.

V2 OjO scooters in Memphis (CNW Group/OjO Electric Corp.)

"The consumer response we have received from residents in our other markets has been tremendous and we're excited to bring the OjO experience to the residents of Memphis . With more than half of vehicle rideshare trips under three miles, OjO has proven to be a simple, affordable alternative for travel, while reducing congestion and harmful emissions from cars," said Max Smith , CEO of OjO Electric. "We're thrilled to partner with Explore Bike Share for OjO's debut in Memphis ."

OjO is initially permitted for 250 scooters in Memphis. Scooter rideshare users in the city will be able to enjoy longer rides, as compared to a typical kick-scooter, comfortable seated on OjO's adjustable cushioned seat. By encouraging increased mileage traveled and drive time in rideshare through thoughtful scooter design, OjO's goal is to reduce cars on the road and carbon emissions.

Explore Bike Share will provide operational support to OjO in Memphis , oversee scooter deployment, balancing, service and repair, and provide a 24/7 customer service telephone support line for users. OjO will be available at select existing Explore Bike Share stations as well as additional virtual docking stations throughout the city, which can be located easily via the OjO app. OjO rides in Memphis start at US$1.25 , plus US$0.20 per minute, and may include a US$5.00 parking fee for out of station parking.

"OjO truly is the perfect partner that aligns with our mission to benefit our city and give our communities access to efficient, eco-friendly transportation," said Trey Moore , Executive Director of Explore Bike Share. "We're pleased to offer the community a safe and reliable option, in addition to our current fleet of bicycles."

For more information and to sign up to OjO's mailing list, please visit www.ojoelectric.com. Follow @OjOElectric on Twitter, Instagram and Facebook, and download the OjO mobile app on iOS or Android.

On behalf of OjO Electric Corp.

"Max Smith"
CEO and Director

About OjO Electric Corp.
OjO Electric Corp. (TSXV: OJO) is dedicated to providing safe, sustainable Light Electric Vehicle (LEV) mobility solutions in collaboration with municipal governments to reduce traffic congestion and carbon emissions. OjO's vision is to change rideshare for good by creating a sustainable mobility eco-system that connects people, cities and businesses. OjO's platform is built with open API's to allow for integration with partners and multi-modal transportation solutions. To find out more, please download the OjO mobile app or visit www.ojoelectric.com.

About Explore Bike Share
Explore Bike Share is a registered 501(c) 3 non-profit organization that aims to advance Memphis and connect its residents on multiple fronts, including affordable and accessible transportation, healthy lifestyles, environment, culture and tourism. For more information, please visit explorebikeshare.bcycle.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding Forward-Looking Information
This news release may contain forward-looking information or statements pertaining to the Company's objectives, goals or future plans and the business and operations of the Company. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "does not expect", "estimates", "intends", "anticipates", "does not anticipate", or "believes", or variations of such words and phrases or states that certain actions, events or results "may", "could", "would", "might" or "will" be taken to occur or be achieved. Forward-looking information or statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; those additional risks set out in the Company's Filing Statement and other public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. The foregoing list of risks and uncertainties is not exhaustive. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievement may vary materially from those expressed or implied by the forward-looking information contained in this news release. These factors should be carefully considered and readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date of this news release. All subsequent forward-looking information attributable to the Company herein is expressly qualified in its entirety by the cautionary statements contained in or referred to herein. The Company does not undertake any obligation to release publicly any revisions to this forward-looking information to reflect events or circumstances that occur after the date of this news release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Ojo Eletric (CNW Group/OjO Electric Corp.)

SOURCE OjO Electric Corp.


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