Statement issued by the company (Announcement)<\/p>\n
SKYX<\/strong> Platforms Corp. (NASDAQ: SKYX) (d\/b\/a SKYX Technologies) (the \u201cCompany\u201d or \u201cSKYX\u201d), an award winning highly disruptive advanced and smart home and AI platform technology company with over 100 U.S. and global pending and issued patents and a portfolio of 60 lighting and home d\u00e9cor websites, with a mission to make homes and buildings become advanced-safe-smart instantly as the new standard, today announced that it has entered into an agreement with OTT Heritage Hospitality, a prominent European developer, to deploy and market its technologies across the vast European hotel chains segment and buildings.<\/p>\n This agreement marks a significant step in SKYX\u2019s<\/a> global expansion strategy as it continues to advance its mission to make hotels, homes, and buildings smarter, safer, and advanced.<\/p>\n Under the agreement, SKYX\u2019s<\/strong> advanced and smart home and building technologies are expected to penetrate the vast European hotel market with over 132,000 hotels with hundreds of thousands of additional rooms in the development pipeline in addition to residential and commercial projects throughout Europe.<\/p>\n During the course of the agreement SKYX and OTT Heritage Hospitality\u00a0expect to deploy and market SKYX\u2019s disruptive technologies to hundreds of European hotels, buildings and developments with the aim of deploying hundreds of thousands of units across European hotel and real estate developments.<\/p>\n OTT Heritage Hospitality provides its platform and network as well as access to a broad pipeline of hospitality projects across Europe and intends to actively market and facilitate the adoption of SKYX\u2019s technologies across a range of hotel, building, and development opportunities, leveraging the significant time and cost efficiencies of up to 90% provided by SKYX\u2019s technologies.<\/p>\n Jean-Fran\u00e7ois Ott, Founder of OTT Heritage Hospitality, said; \u201cAs a long-time developer of hotel and real estate projects, I see a tremendous opportunity in marketing and facilitating the penetration of SKYX\u2019s highly disruptive technologies into hotels and real estate projects across Europe. By leveraging significant time and cost efficiencies of up to 90% for hotel renovations as well as new builds, we can enable properties to become smarter, safer, and more technologically advanced.\u201d<\/p>\n Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said; \u201cThis partnership marks a significant step in our global expansion strategy as we continue with our goal and mission to advance hotels, homes, and buildings by making them smarter and safer. We look forward to partnering with such an established European hotel and real estate developer.\u201d<\/p>\n For more information about OTT<\/strong> Heritage Hospitality click here: www.ottheritagehospitality.com<\/a><\/p>\n For more information about SKYX<\/strong> click here: www.skyx.com<\/a><\/p>\n As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at\u00a0https:\/\/www.skyx.com\/<\/a> or follow us on\u00a0LinkedIn<\/a>.<\/p>\n Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as \u201caim,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccan,\u201d \u201ccould,\u201d \u201ccontinue,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cevaluate,\u201d \u201cforecast,\u201d \u201cguidance,\u201d \u201cintend,\u201d \u201clikely,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cobjective,\u201d \u201congoing,\u201d \u201coutlook,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cprobable,\u201d \u201cproject,\u201d \u201cseek,\u201d \u201cshould,\u201d \u201ctarget\u201d \u201cview,\u201d \u201cwill,\u201d or \u201cwould,\u201d or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company\u2019s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company\u2019s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company\u2019s ability to achieve positive cash flows; the Company\u2019s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company\u2019s ability to capture market share; the Company\u2019s estimates of its potential addressable market and demand for its products and technologies; the Company\u2019s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company\u2019s ability to continue as a going concern; the Company\u2019s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company\u2019s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company\u2019s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company\u2019s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company\u2019s actual operating results; the potential impact of unstable market and economic conditions on the Company\u2019s business, financial condition, and stock price; and other risks and uncertainties described in the Company\u2019s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.<\/p>\nAbout SKYX Platforms Corp.<\/h2>\n
Forward-Looking Statements<\/h2>\n
Investor Relations Contacts:\r\n\r\nJeff Ramson\r\nPCG Advisory\r\njramson@pcgadvisory.com<\/a>\r\n\r\nRonald A. Both\r\nEncore Investor Relations\r\nrb@encore-ir.com<\/a><\/pre>\n