Usewalter Achieves First Entry into U.S. Market Through Pivotal Agreement with Multi-Building Property Manager
Montreal, Quebec--(Newsfile Corp. - January 26, 2021) - GOLO Mobile Inc., doing business as Usewalter (TSXV: WLTR) ("Usewalter" or the "Company"), is pleased to announce that it has secured an initial entry into the U.S. marketplace with an agreement for Usewalter's innovative smart building technology. This agreement, executed with Property Management by Design, LLC, a premier real estate management company based in Birmingham, Michigan, enables Usewalter to launch its game-changing, SaaS-based solution to over 1,200 new units in 30 different buildings across Michigan.
Gaining entry into the U.S. market represents a significant and strategic accomplishment in the Company's continued evolution and provides strong support for Usewalter to further build its presence and profile in high-density urban environments across North America. Coined as 'the app that no one can live without to manage the home and workplace', usewalter is a one-stop solution for efficient and cost-effective building management across communication, commerce and delivery, and Internet of Things (IoT) management. Usewalter's app represents the first SaaS solution to integrate seamlessly with existing building applications provided by other prop-tech software providers while offering meaningful benefits for both property managers and their residents.
"We are thrilled to have been chosen by Property Management by Design for the delivery of our cutting-edge smart building solution to their building portfolio in Michigan," said Peter Mazoff, President and CEO of Usewalter. "Making our first foray into the U.S. while well-funded from our recent financing positions the Company to rapidly expand and scale to meet anticipated market demand. We are pleased to be the provider of choice for Property Management by Design while bringing the number of doors currently being serviced to over 30,000."
Sheri Kay, the President of Property Management by Design, LLC, commented, ''With 40 years in the Community Management Industry, we are very excited to be teaming up with Usewalter's innovative solution both for our property management company and our team but also for the residents of the communities we service.''
About Property Management by Design, LLC
Property Management by Design, LLC is a long-standing and well-regarded property management company based in Michigan.
Usewalter, Inc. (TSXV: WLTR) is a smart building technology SaaS solution for property managers and residents in high-density urban environments, delivered through its usewalter app. Designed as 'the one app no one can live without', usewalter enables efficient and cost-effective management of a building across the key areas of communication, commerce and delivery and IoT management within multi-residential and commercial properties. Usewalter is positioned to leverage its first-mover advantage to access new Canadian and U.S. markets, secure additional partners and further build revenue momentum. The Company currently has no debt and significant insider ownership with affiliates of Blackstone Group L.P. and the funds comprising CVC Capital Partners VI. Learn more at www.usewalter.com.
For Further Information:
Peter Mazoff, Chief Executive Officer
Cindy Gray, Investor Relations
Forward Looking Information
When used in this news release, the words "will", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in these forward-looking statements and information in this news release are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. The forward-looking statements and information in this news release include, without limitation: the Company's ability to execute its aggressive growth strategy to rapidly increase doors, expand geographically and enhance revenue; success being recognized as the app that no one can live without to manage their home and workplace; and growth of the multi-residential real estate sector.
With respect to the forward-looking statements contained in this news release, assumptions have been made regarding, among other things: the Company's ability to achieve, sustain or increase profitability, and fund its operations with existing capital and/or raise additional capital to fund operations; expenditures by the Company, merchants and customers in the Company's network; continuing demand for the Company's services and the pricing of such services; the ability of the Company to market its services successfully to existing and new merchants and customers; the economy generally; competition in the mobile delivery, smart building technology and multi-residential real estate industries; stability of the general regulatory environment in which the Company operates; and the absence of significant disruptions to the Company's operations such as may result from harsh weather, natural disaster, accident or other calamitous event.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the Company may require additional financing from time to time in order to continue its operations and financing may not be available when needed or on terms and conditions acceptable to the Company; there is no certainty that the Company will be able to realize the expected benefits or synergies of the Company's rebrand; and the other risk factors that are set forth under the heading "Risk Factors" in the Company's Management Information Circular dated July 23, 2020, which is available on SEDAR at www.sedar.com.
The Company cautions that the foregoing lists of assumptions and risks are not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing assumptions and risks and other uncertainties and potential events. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company does not undertake to publicly update or revise the forward-looking information contained in this news release to reflect new events or circumstances, except as required pursuant to applicable laws.
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