Motos America Reverse splits stock and changes ticker symbol to “MTAM” on July 16, 2022
SALT LAKE CITY, UT/ACCESSWIRE/June 15, 2022/ America Motorcycles Inc., a publicly traded motorcycle dealer group, has been notified by FINRA that it has processed a corporate action request for the company. This corporate action will appear in the Daily Announcement List dated June 15, 2022, with an effective date of June 16, 2022, subject to the applicable waiting period, as set out below. The new ticker symbol aligns with the company’s branding and the reverse split better positions the stock for a future stock market move and expansion of its shareholder base. As a result of the corporate action, the following changes will occur with the publicly traded securities of Motos America:
- 1:300 reverse split common shares with voting rights
- A new CUSIP number for post-split actions: 94846P204
- New temporary stock symbol: WECT-D
- New permanent ticker: MTAM (effective in 20 business days or on or about July 16, 2022)
“Our stock reverse split and new ticker symbol help set Motos America Inc. apart from its predecessor’s operations,” said Vance Harrison, general manager of the company. We are now focusing on a highly differentiated business plan to roll up BMW, Ducati and Triumph Motorcycle Dealers into an integrated management company capable of being competitive on a national scale. We are on track to meet our dealer acquisition targets. These luxury brands, with their affluent customer base, are expected to continue to increase their overall market share in the coming years, and we hope to contribute to this by strengthening operational performance and benefiting from the increase in the number of vehicles sold, customers served and dealerships under control.
The company is launching a new title offering to raise additional working capital and expand its luxury brand motorcycle dealer base across the United States, including the acquisition of 3 BMW motorcycle dealerships in Florida. More information about this offer can be obtained from the Placement Agent CIM Securities LLC.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful before registration or qualification. under the securities laws of that state or jurisdiction.
CIM Securities LLC, headquartered in Littleton, Colorado, is an independent investment bank that serves small and small-cap companies by providing capital raising solutions as well as merger and acquisition services for companies seeking growth capital or services. CIM also targets individual investors by offering them comprehensive brokerage and fund management solutions. CIM Securities offers institutional investors and individual investors periodic opportunities to participate in public offerings and private placements of public or private companies. CIM’s mission is to provide value-added solutions to middle market companies and their investors to help them achieve their goals. The Company believes that its structure, size and focus allow it to differentiate itself by providing superior service, advice and execution to its clients.
About Motos America
America Motorcycles Inc. (OTC: MTAM – formerly WECT) is a European premium motorcycle dealership consolidation company. In November 2021, the company changed its name from “Weconnect Tech International, Inc.” to “Motorcycles America Inc.” When it changed its name, the company adopted a new business model. Motos America buys and operates powersports dealerships, with a focus on European luxury motorcycle brands, including BMW Motorcycles, Triumph Motorcycles and Ducati Motorcycles. The company believes the motorcycle dealership industry is ripe for consolidation, similar to what has happened in the automotive industry. Motos America believes that consolidation in this niche will bring the same benefits of scale associated with automotive dealer group consolidations. Namely, better operating results through professional management, branding and marketing opportunities, and volume purchasing.
For more information please contact:
America Motorcycles Inc.
Jordan Darrow, Investor Relations
510 So. 200 West #110
Salt Lake City, Utah 84101
THE SOURCE: America Motorcycles Inc.
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