Discover how Undervalued Tight Floater Opens New Vertical Market with PO
DENVER, Colo., Nov 27, 2023 (247marketnews.com)- Siyata Mobile Inc. (Nasdaq:SYTA) stated, this morning, that it received a purchase order from Solutions Ambra, its Canadian resell partner and private LTE/5G engineering firm, for its SD7 Push-to-Talk (PTT) handsets, VK7 vehicle kits and related accessories.
Siyata expects to deliver the devices in December, to be deployed at a remote mining operation located in Northern Canada and enabled by Ambra Solutions’ private LTE/5G network.
Eric L’Heureux, CEO of Solutions Ambra, stated, “We are pleased to work with Siyata Mobile Inc. on this deployment of its SD7 Handsets and accessories for our mining customer, and we think that Ambra and Siyata have the potential to work together on similar innovative projects in future.”
Siyata has a strong business model and opened several new vertical markets this year, but, compared to its accomplishments and analysts’ expectations, is well underpriced. This disparity is likely due to less than stellar funding execution, which the Company needed to deliver anticipated upcoming orders resulting from a successful status upgrade with one of the three major domestic carriers and appears to have gifted new investors with a chance to acquire undervalued shares.
Marc Seelenfreund, CEO of Siyata, said, “This order establishes Siyata in a new vertical market and demonstrates the compatibility and durability of products. Our hardware will operate on a private LTE/5G network that Ambra created and deployed specifically to service mining operations in a remote area. Telecom coverage by mainstream providers is generally broad, but there are remote areas where coverage is not ubiquitous. Accordingly, there is a current and growing trend of mining companies turning to private cellular-based networks to support operations with reliable and secure communications. Importantly, the private network provides the backbone and catalyst for transitioning away from land mobile radio communication. We know that Ambra Solutions are experts in mission-critical communications having already deployed many private LTE/5G networks in underground and open-pit mines, so we are happy to work with them. We believe there is a compelling opportunity for our solutions to be used on private networks such as with mining operations, where reliable communication is critical to safety and efficient operations.”
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