– Company Partners with BACD.IO for Sustainable Transportation Utility Token
– Announces an online promotional event on December 20 in Dubai
VANCOUVER, BC and LISBON, PORTUGAL – December 20, 2022 – TUGA Innovations, Inc. (CSE: TUGA) (FSE: DQ5) (OTC: TUGAF) (“TUGA Innovations” or the “Company”), a company that is associated with the TUGA, a new type of electric vehicle (“EV”) that develops solutions to urban mobility challenges, is pleased to announce that it has reached an agreement with NFT specialists BACD.IO and eTUGA.io for the mining and commercialization of an eTUGA utility token.
The BACD.IO (https://www.bacd.io/) and eTUGA.IO (www.etuga.io) team has developed an integrated service to support the launch of the planned eTUGA utility token alongside a new TUGA Augmented To market a reality (AR) application that allows users to experience any TUGA vehicle in a personalized augmented reality environment.
Online event information
An online event will be held live from Dubai, United Arab Emirates on Tuesday, December 20 at 9 a.m. ET to provide more information. Those interested can participate via Zoom. Please note, however, that the number of participants is limited.
Event ID: 862 0562 6329
Visit our website (www.tugainnovations.com) for more information. Also download our app, also available on Google Play Store or Apple App Store.
The launch of the eTUGA utility token will enable participation in the TUGA program by providing access to a variety of services under special conditions and environments. Visit the eTUGA website (https://www.etuga.io/) for more information.
Under the TUGA program, progress has been made in the design and development of the engineering, electronics, software and design of the innovative three-wheeled, all-electric, two-seater vehicle TUGA. Literally no wider than a motorcycle, the TUGA is very manoeuvrable; a patent-pending extendable rear axle provides high-speed stability. Plus, an extendable frame provides excellent passenger and cargo access. The concept behind the vehicle is to provide advanced connectivity technology with an estimated range of 160 km at speeds of up to 140 km/h and more protection than a motorcycle in a platform that allows bodies and interchangeable features.
John Hagie, CEO of TUGA Innovations, explains: “We have brought together great partners with eTUGA.IO and BACD.IO to bring our project to market in an innovative way. With this concept, we are positioned to expand market reach using blockchain. technology improves and offers new opportunities for the public to participate in our development.”
For the Board of Directors,
Chairman and Chief Executive Officer and Director
TUGA Innovations, Inc.
As part of the Company’s disclosure requirements as a listed issuer, current financial and principal reports can be viewed under the Company’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. We invite the public to visit our website www.tugainnovations.com and sign up for our “News Alerts” to be notified of future news and events. Please watch our video now available on the website and follow us on Instagram, Twitter and LinkedIn.
About TUGA Innovations, Inc. (CSE: TUGA) (FSE: DQ5) (OTC: TUGAF)
TUGA Innovations is a development-stage electric vehicle company focused on the design, engineering and production of specialized electric vehicles to improve urban mobility. The company aims to meet the challenges of urban mobility by developing a range of 100% electric 3-wheel, 2-seater vehicles. Vehicle is no wider than a motorcycle for agility and features a patent-pending extendable rear axle for high-speed stability and patent-pending retractable landing gear for comfort passengers. The vehicle will feature advanced connectivity technology to provide optimal safety, performance, environmental impact, comfort, maintenance and navigation. Designed for an estimated range of 160 km and an estimated top speed of 140 km/h, the TUGA vehicle offers the comfort of a car and more protection than a motorcycle. It rests on an interchangeable and multifunctional platform with different bodies. To learn more, visit: https://tugainnovations.com/, watch our https://tugainnovations.com/videos/ and follow us on Instagram, Twitter and LinkedIn.
Further information is available from:
TUGA Investor Relations
Tel: +1 415.799.7911
This press release contains statements and information that, if not historical facts, may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may include financial and other projections, as well as statements about future economic plans, objectives or performance, or underlying assumptions. In some cases, forward-looking statements contain words such as “objective”, “aims”, “may”, “would”, “could”, “will”, “probable”, “expect”, “plan” , ‘expect’, ‘believe’, ‘intend’, ‘intend’, ‘plan’, ‘project’, ‘estimate’, ‘prospects’ ‘hope’, ‘have potential’ or the negative of that these or other similar expressions relating to facts that are not historical facts. Examples of such statements include, but are not limited to, statements about addressing conduct issues in, between and around the centers -cities and metropolitan areas, the launch and creation of the eTUGA utility token and the benefits expected from it; the provision of participation in the TUGA program via the eTUGA utility token; the launch of the TUGA Metaversum application and functionalities associated, including a virtual test drive; commercialization of the company’s vehicle concepts eprise, including the development of a range of vehicles, the design of the vehicle, including three-wheel drive, the number of seats, an optional set of advanced digital communication and navigation functions, the width of the vehicle, the extended rear axle of the vehicle as well as expected passenger comfort and load capacity, advanced vehicle connectivity features and expected benefits, range and maximum vehicle speed, and safety, performance and comfort of the vehicle.
Forward-looking information is based on management’s assumptions, estimates, analyzes and opinions made in light of management’s experience and perception of trends, current conditions and expected developments and other factors that management deems relevant and reasonable at the time such statements are made, which, however, may prove to be incorrect. Important factors and assumptions used in preparing the forward-looking information contained in this press release include, but are not limited to, the continued commitment of key personnel and qualified employees to the Company, the Company’s ability to obtain additional financing on reasonable terms, the conditions of competition in the industries in which the company operates and the laws applicable to the company and their amendments.
Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to differ materially from the results, performance or achievements expressed or implied by the forward-looking information. , including, without limitation, risks relating to the future business plans of the Company; the risks that the Company may not be able to retain its key personnel; the risks that the Company may not be able to obtain financing on reasonable terms or at all; as well as all other risks described in the Company’s final prospectus dated November 30, 2021 under the heading “Risk Factors”. Accordingly, readers should not place undue reliance on such forward-looking information. Further, any forward-looking information speaks only as of the date on which it is made. New factors arise from time to time and it is not possible for management to update them all by anticipating such factors and anticipating the impact of each such factor on the Company’s business or the extent to which any factor or combination of factors could cause actual results to differ materially from those contained in the forward-looking information which the Company undertakes no obligation to update the forward-looking information to conform to information or events after the date to which they are made or to reflect the occurrence of unforeseen events, except as required by law, including by the Securities and Exchange Commission.
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