Motos America Inc. Closes Funding Round

SALT LAKE CITY, UT/ACCESSWIRE/April 27, 2022/ Motos America Inc., a publicly traded motorcycle dealership group, closed its first round of funding, raising $5 million from private investors. This offer was placed by the Company’s management team, without commission or other direct compensation. There were a total of 29 subscribers to this private placement of shares and other securities.

The company plans to use proceeds from this offering as working capital to expand its luxury brand motorcycle dealership base across the United States, including the acquisition of 3 BMW motorcycle dealerships in Florida.

“We are well on our way to achieving our dealer acquisition goal,” said Vance Harrison, general manager of the company. “The Company sees a particular opportunity in BMW, Ducati and Triumph Motorcycle DealersVance continued. “These luxury brands, with their affluent customer base, are expected to continue to grow their overall market share in the years to come, and we hope to contribute to that,” he concluded.

BMW, Ducati and Triumph each have a total of fewer than 160 dealerships in the United States, unlike the four Japanese motorcycle brands (Honda, Suzuki, Yamaha and Kawasaki) and Harley-Davidson which each have between 700 and 1,500 national dealerships.

According to Kris Odwarkapresident of Motos America Inc. “Low number of BMW, Ducati and Triumph motorcycle dealerships nationwide is holding back intra-brand competition and supporting margins.”

The Company intends to turn its increased financial strength as a result of this offering into a $12 million “B-Round” in the near future.

About Motos America

America Motorcycles Inc. (OTCPINK: WECT) is a European premium motorcycle dealership consolidation company. In November 2021, the company changed its name from “Weconnect Tech International, Inc.” to “Motorcycles America Inc.” When it changed its name, the company adopted a new business model. Motos America buys and operates powersports dealerships, with a focus on European luxury motorcycle brands, including BMW Motorcycles, Triumph Motorcycles and Ducati Motorcycles. The company believes the motorcycle dealership industry is ripe for consolidation, similar to what has happened in the automotive industry. Motos America believes that consolidation in this niche will bring the same benefits of scale associated with automotive dealer group consolidations. Namely, better operating results through professional management, branding and marketing opportunities, and volume purchasing. For more information please contact:

Contact:
America Motorcycles Inc.
Cal Jones, Investor Relations
510 So. 200 West #110
Salt Lake City, Utah 84101
https://motosamerica.com
email:[email protected]
(801) 386-3700
(801) 403-8609 – Cellular

This press release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties, including, but not limited to, statements regarding our business strategy, future earnings, and expected costs and expenses. . These forward-looking statements include, but are not limited to, statements that include the words “expects”, “anticipates”, “intends”, “believes” and similar language. Our actual results may differ materially from those projected in the forward-looking statements. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this report. We undertake no obligation to publicly release any revisions to any forward-looking statements or to reflect events or circumstances after the date of this document. Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from these forward-looking statements.

THE SOURCE: America Motorcycles Inc.

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https://www.accesswire.com/699183/Motos-America-Inc-Closes-Round-A-of-Financing

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