Micro Mobility Market

Last Mile Holdings’ Gotcha Mobility Announces Q4 Market Expansions

Gotcha to Deploy 2,500 E-Bikes, 1,000 E-Scooters, and 400 Cruisers to 10 Cities and Four Universities Across the U.S.

CHARLESTON, SC and VANCOUVER, BC, – 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, announced today its fourth-quarter plans to launch 2,500 new e-bikes, 1,000 new e-scooters and 400 cruisers across 10 cities and four universities in the United States via its Gotcha Mobility (“Gotcha”) operating subsidiary.

Gotcha will expand and launch exclusive e-mobility systems in cities and universities throughout the remainder of 2020.

Expansion in existing markets include:

  • Auburn University, AL
  • Baton Rouge, LA
  • Mobile, AL
  • San Gabriel Valley, CA
  • Syracuse, NY
  • University of Alabama
  • University of North Carolina at Charlotte

New launch markets include:

  • Birmingham, AL
  • Little Rock, AR
  • Richmond, CA
  • Sonoma and Marin Counties, CA
  • Springfield, MO
  • Missouri State University
  • St. Augustine, FL

MILE is expanding existing mobility fleets in markets like Baton Rouge, where demand for Gotcha’s services has risen significantly, and working alongside university and municipal partners to implement new, exclusive systems. Several of the Company’s newer systems will qualify for private and federal subsidies per regional regulations and incentives. The Company remains focused on ensuring each of its markets are profitable and meeting or exceeding utilization goals.

“Our ambitious cross-country expansion plans will allow us to materially increase the size and scope of our new and existing mobility systems, all in a highly-targeted fashion,” said Last Mile Holdings CEO Max Smith. “Most notably, we’re looking forward to establishing a base of operations in California, which will provide us with an attractive west coast foothold to be built upon in subsequent months. These e-bikes, e-scooters and cruisers were purchased directly with funds from our recent, successfully oversubscribed offering and will be deployed in markets where we already have agreements in place, allowing us to grow quickly, but still predictably with the plan we’ve laid out. We remain focused on driving incrementally positive unit economics in all of our markets, which will ultimately allow us to achieve EBITDA profitability in the relatively near future.”

For more information on Last Mile Holdings, visit lastmile-holdings.com.

Author: Press

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