NEW YORK--(BUSINESS WIRE)--Jul. 30, 2024--Micromobility.com (OTCQB: MCOM) is pleased to announce its graduation to the OTCQB Venture Market from the OTC Pink Market, effective immediately.

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The OTCQB Venture Market, operated by OTC Markets Group, is recognized as the premier marketplace for early-stage and developing U.S. and international companies. The upgrade to the OTCQB reflects micromobility.com's commitment to transparency, improved financial standards, and enhanced shareholder value.

"We are thrilled to have met the requirements for trading on the OTCQB Venture Market," said Salvatore Palella, CEO of Micromobility.com. "This significant milestone demonstrates our dedication to maintaining higher financial standards, improving our corporate governance, and increasing visibility within the investment community. We believe this move will provide greater liquidity and broader access to capital, which are essential for our growth and expansion plans."

"We have implemented rigorous financial controls and enhanced our reporting processes to ensure greater accuracy and transparency in our financial statements," said Gian Luca Spriano, CFO of micromobility.com. "This graduation is a strategic move to increase liquidity and attract a broader base of investors, providing us with greater access to capital markets to fund our growth initiatives and invest in new technologies and infrastructure. We are committed to driving profitability while maintaining our focus on innovation and customer satisfaction. These efforts are already yielding positive results, reflected in our improving financial performance."

The OTCQB Venture Market offers companies the advantage of being traded on an established public market while providing investors with a robust trading experience. Companies on OTCQB must meet high financial standards, undergo annual verification and management certification processes, and are subject to the SEC's reporting requirements. With this upgrade, micromobility.com anticipates increased investor confidence and interest, which will support the company's strategic objectives and facilitate its mission to revolutionize urban transportation through innovative mobility solutions.

"Upgrading to the OTCQB Market is a significant step in our journey, and we look forward to the new opportunities this will bring to our company and our stakeholders." added Salvatore Palella

Forward-Looking Statements

Certain statements made in this press release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate" "believe" "expect" "estimate" "plan" "outlook" and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward looking statements. Due to known and unknown risks, actual results may differ materially from the Company's expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i)the failure to meet projected development and production targets; (ii) changes in applicable laws or regulations; and (iii) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the "SEC") by the Company including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The Company's SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.

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Source: Micromobility.com