Siyata Mobile Announces Closing of Merger with Core Gaming

Core Company Overview - Siyata Mobile Inc. has successfully completed its merger with Core Gaming, Inc. on October 3, 2025, marking a significant milestone in its strategic transformation [1][6] - The combined entity is now named Core AI Holdings, Inc., which will focus on advancing next-generation gaming technology and integrating artificial intelligence across its platforms [3][4] Core Gaming Insights - Core Gaming is a leading developer and publisher of mobile and cloud-based gaming solutions, reporting fiscal year 2024 revenues of $79 million [2] - The company boasts a diverse portfolio with over 780 million lifetime downloads and strategic partnerships globally [2] Market Position and Strategy - The mobile gaming industry is valued at $126 billion, and Core AI Holdings aims to leverage artificial intelligence to enhance user engagement and expand its market share [3] - The global AI apps market is projected to grow at a 38.7% CAGR, reaching $2.94 billion by 2024, positioning Core AI Holdings to capture significant market opportunities [3] Corporate Structure and Leadership - Core Gaming will operate as a wholly owned subsidiary of Core AI Holdings, with Aitan Zacharin as CEO and Marc Seelenfreund as President of Siyata PTT Inc. [4][6] - The new Board of Directors has been appointed to guide the strategic transformation of the company [5] Financial and Stock Information - Siyata issued 67,302,300 Common Shares to Core Gaming shareholders based on an exchange ratio calculated from a $160 million valuation [8] - A 1-for-4 reverse stock split will take effect on October 7, 2025, to comply with Nasdaq's minimum bid price requirement [9][11] - The new shares will commence trading on the Nasdaq Capital Market under the symbol "CHAI" on October 7, 2025 [10] Company Mission and Vision - Core AI Holdings aims to harness artificial intelligence to build transformative and scalable offerings across multiple verticals, having developed over 2,100 games and reaching a global user base of over 40 million [12]