Gotcha Mobility's Q1 Growth Provides Solid Foundation for 2020

Last Mile Holdings Portfolio Poised to Thrive Amidst Coronavirus Uncertainty

CHARLESTON, SC, April 6, 2020 /PRNewswire/ - Gotcha Mobility, LLC ("Gotcha"), a subsidiary of Last Mile Holdings Ltd. ("MILE") (TSXV: MILE; OTC: AZNVF), announced today its first quarter results.

The company officially merged with Last Mile Holdings Ltd., making it one of the largest micro-mobility companies in the United States. Amidst the coronavirus pandemic, Gotcha developed a new extension of its business offering its vehicles to local restaurants and grocery stores for take-out orders and light groceries. Local businesses can rent Gotcha's mobility products at a discounted rate to increase delivery efficiency while reducing overall delivery costs and employee layoffs.

"During an 8-month pilot program with one of the largest food delivery app companies last year, we learned that food deliveries on our sit down scooter were over 30% more efficient than single occupancy cars," said Max Smith, Chief Executive Officer of Last Mile Holdings. "We see last mile deliveries of food and packages as a significant growth opportunity for Gotcha Mobility."

While other micro-transit operators are retreating, Gotcha plans to continue to operate its shared mobility systems for essential travel as long as they're allowed. Gotcha has implemented enhanced CDC cleaning protocols to help protect its riders and employees during COVID-19. Gotcha's vehicles are considered a form of public transportation by Homeland Security and will continue to remain open for its riders.

"We are seeing an increase in ridership which clearly shows the strength of our micro-mobility business," said Sean Flood, Chief Executive Officer of Gotcha. "We are so glad our riders are committed to sustainable transportation when they need it and look forward to expanding our shared systems and product offerings across the country."

Gotcha's partnership-first approach in exclusive markets has led the company to build positive city and university relationships. These partners have helped spread the word of Gotcha's new delivery service and made introductions to local businesses. Gotcha is also in direct communication with each partner on the wants and needs of their ride share systems during this time.

In the first quarter of 2020, Gotcha launched e-mobility systems at University of Georgia (bike share) in January, University of North Carolina at Charlotte (scooter share) in March, and City of Durham (scooter share) in March. More than 100,000 trips were taken on Gotcha products nationwide during Q1.

Gotcha continues to forge ahead preparing for upcoming system launches and targeting new, exclusive markets. The company is developing site plans, planning marketing campaigns, designing new products, and remains in contact with partners. Gotcha remains focused on positive unit economics by ensuring each of its markets are profitable and its products are meeting and exceeding targeted utilization goals.

For more information on Gotcha, visit ridegotcha.com.  

ABOUT GOTCHA
Gotcha, a subsidiary of Last Mile Holdings, is 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 e-bikes, e-scooters, and e-trikes 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

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 currently operates 35 college and 45 municipal 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 e-bikes, e-scooters, e-trikes, and electric seated scooters. For more information, visit lastmile-holdings.com.

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: OjO and OjO'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 OjO to meet its deployment targets, access to sufficient mobility units, meeting the requirement of the permits granted to OjO, general business, economic and social uncertainties; 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.

SOURCE Gotcha Mobility

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