Over 200% Increase in Total Monthly Ride
Minutes
VANCOUVER, BC, June 17, 2020 /CNW/ - Last Mile
Holdings Ltd. ("MILE" or the "Company") (TSXV: MILE)
(OTC: AZNVF), a leading micro-mobility company with the
broadest product suite in the industry, today provided an update
highlighting certain key performance indicators ("KPIs") driving
the recent success and significant growth in its recently acquired
and now fully integrated operating subsidiary, Gotcha Mobility
("Gotcha").
"I am thrilled to work with an amazing team where our
post-acquisition integration and on-the-ground business execution
have translated into impressive KPI results as we continue to grow
our business," said Sean Flood, CEO
of Gotcha.
In the first five months of 2020 Gotcha has had exciting
material increases in several KPIs within its various e-mobility
markets, including:
- 43% increase in number of trips per month from 36,200 in
January to 51,900 in May;
- 208% increase in minutes ridden per month from 416,600 in
January to 1,281,500 in May;
- 53% increase in riders per month from 13,300 in January to
20,300 in May;
- 17% increase in vehicles deployed from 3,990 in January to
4,650 in May.
Throughout the ongoing COVID-19 pandemic, Gotcha has been
coordinating efforts with university and municipal partners to keep
its products on the streets and provide riders a socially-distant
transportation alternative. The increase in ridership is reflected
in riders' engagement with a 208% increase in total minutes ridden
(compared to a 17% increase in vehicles deployed), proving Gotcha's
products are in high demand as a safe transportation method. With
comprehensive product cleaning procedures and safety messaging,
Gotcha is ensuring its riders stay safe and informed.
"Gotcha's record performance year-to-date is a clear endorsement
of our diversified platform of transportation solutions as well as
our highly-targeted go-to-market approach," said MILE CEO
Max Smith. "Our exclusive contract
partnership model has proven to be far more resilient than other
mass-expansion, undifferentiated offerings. During a time of global
economic uncertainty, this disciplined approach has enabled our
team to retain existing employees and also bring on additional
staff to satisfy the demand we're currently witnessing. Riders are
taking longer leisure trips, using shared bikes and scooters as a
way to get outside while adhering to social distancing guidelines.
We believe the current catalysts, while influential in the near
term, will also lead to longer term changes in consumer behavior
specifically within our key markets. As more communities adopt
shared micro-transit, MILE will continue to develop its multi-modal
portfolio to meet the needs of riders and partners."
For more information on Last Mile Holdings, visit
lastmile-holdings.com.
About Last Mile Holdings
Last Mile Holdings (TSXV:
MILE), formerly OjO Electric, is one of the largest micro-mobility
companies in the U.S., offering the broadest product suite in the
industry. Last Mile has 30 university and 50 municipal
contracted shared mobility systems under the OjO and Gotcha
brands. The acquisition of Gotcha in the first quarter of 2020
provides an expansive growth pipeline and a portfolio of products
including electric bikes, trikes, scooters, and cruisers. For more
information, visit lastmile-holdings.com.
Follow us on social:
LinkedIn: Last Mile Holdings
About Gotcha Mobility
Gotcha, a subsidiary of Last
Mile Holdings, is a shared electric mobility company dedicated to
providing innovative products and technologies that get people out
of single-occupancy cars and safely onto efficient, sustainable
micro-transit products. The company operates electric bikes,
trikes, scooters, and cruisers as transportation solutions tailored
to cities and universities across the US. Gotcha empowers
communities to lead happier, more productive lives through the
transformative power of affordable, accessible micro-transit. For
more information, visit ridegotcha.com.
Follow us on social:
Instagram: @RideGotcha
Facebook: @RideGotcha
Cautionary Statement Regarding Forward-Looking
Information
This news release includes certain
"forward-looking statements" and "forward-looking information"
under applicable Canadian securities legislation that are not
historical facts. Forward-looking statements involve risks,
uncertainties, and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from
those expressed or implied by such forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, statements with respect to: Last Mile Holdings and
Gotcha's business and prospects and the Company's objectives, goals
or future plans, including the planned deployment of its mobility
units; and the business, operations, and management of the Company.
Forward-looking 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 actual results and future events to differ
materially from those expressed or implied by such forward-looking
statements. Such factors include, but are not limited to: the
ability of Company to meet its deployment targets, access to
sufficient mobility units, meeting the requirement of the permits
granted to Company, general business, economic and social
uncertainties including the impact of COVID-19; litigation,
legislative, environmental and other judicial, regulatory,
political and competitive developments; delay or failure to receive
board, shareholder or regulatory approvals; those additional risks
set out in the Company's public documents filed on SEDAR at
www.sedar.com; and other discussed in this news release.
Accordingly, the forward-looking statements discussed in this
release, may not occur and could differ materially as a result of
these known and unknown risk factors and uncertainties affecting
the companies. Although the Company believes that the assumptions
and factors used in preparing the forward-looking statements are
reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the
disclosed time frames or at all. Except where required by law, the
Company disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events, or otherwise.
Reader Advisory
Neither the TSX-V nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX-V) accepts responsibility of the adequacy or
accuracy of this release.
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SOURCE Last Mile Holdings Ltd.
