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New Listing: OJO Electric Corp (TSXV:OJO)

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OjO is changing rideshare, providing safe, sustainable first and last mile mobility solutions in collaboration with local governments. The patented, custom-engineered scooter is built for bike lanes and streets, away from sidewalks and pedestrians, protecting public rights-of-way.

Additional Information:

Company: OJO Electric Corp.
Website: http://www.OJOelectric.com
Stock Symbol: TSXV: OJO
Date Published: Oct 22, 2019
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

OJO Electric Corp is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “OJO”, following its business combination with Arcturus Ventures.

OjO is changing rideshare, providing safe, sustainable first and last mile mobility solutions in collaboration with local governments.

The patented, custom-engineered scooter is built for bike lanes and streets, away from sidewalks and pedestrians, protecting public rights-of-way.

The zero emission, fully-electric OjO scooter, with onboard Bluetooth speakers, has two swappable 48-volt lithium ion batteries that allow it to go up to 50 miles on a full charge at bike-lane-legal top speeds of 20 mph, with a maximum load of 300 lbs.

Integrated GPS technology allows for geo-fencing and automated speed throttling.

Micro-mobility ridesharing solutions — personal LEVs, such as e-scooters, rentable by-the-minute through a smartphone app – can effectively replace most personal car and ride-hailing trips, as well as deliver first- and last-mile solutions for public transit, in congested metro areas.

OjO has already secured permits from Austin, Dallas, and Memphis to deploy a total of 1,250 OjO scooters, all of which are expected to be deployed over the next 3-6 weeks.

OjO intends to expand its ridesharing service to other major US cities in the next 12 months, including, among others, San Antonio, TX, and Washington, D.C., and to add additional cities in North America and Europe, all subject to receipt of applicable regulatory approvals.

Max Smith, CEO, stated: “We believe strongly that LEV rideshare will represent a significant part of this growing mobility market. The adoption curve for LEV rideshare is outpacing even that of ride-hailing, which makes sense given an estimated 53% of all urban trips span fewer than 3 miles. We view last-mile delivery as a major opportunity and potential catalyst for the Company. In the near term, we hope to extend our first pilot in this space into a long-term partnership and are actively seeking out other similar opportunities in the space.”

In May 2019, OjO entered into a pilot with a leading on-demand food delivery service company, providing an initial fleet of 5 scooters to their drivers.

The pilot has been very successful, with an estimated 35% efficiency improvement in deliveries, more trips and tips for drivers, and greater driver retention and was recently expanded to 25 scooters.

The shares are trading at $0.90.

For more information, please visit the company’s website www.OJOelectric.com, call 1-877-557-1053 ext. 116 or email investors@ojoelectric.com.

I’m Megan Edwards for Investmentpitch Media