PALO ALTO, Calif., Nov. 29, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- CarSmartt®, (OTC: CRSM), is pleased to announce they have signed a licensing agreement with 9385-6516 Quebec Inc., d/b/a CarSmartt Canada, a Canada limited liability company in Canada.
Our COO Mr. Visconti commented “On November 26, 2018, CarSmartt completed a license agreement with CarSmartt Canada, a Canada limited company who agreed to provide one million dollars in funding for the development of both short range, Uber/Lyft type ridesharing, and our current long-distance ride and package programs. CarSmartt will be utilizing a portion of the funds to further develop its software application to facilitate the new short-range inner-city ride programs and the additional funds will be utilized to continue the ride programs in other markets.”
CarSmartt Canada, and its affiliated companies, currently has available 150 passenger vehicles and a limo company in Montreal which will begin utilizing its vehicles to launch CarSmartt Canada application starting in Montreal and utilize its funds to further develop the CarSmartt application throughout Canada.
Mr. Visconti states “CarSmartt is engaged in completing additional agreements for licensing agreements where the licensee provides CarSmartt with additional financing for marketing and where they have existing vehicles to facilitate the launch of the new inner city ride sharing program.”
CarSmartt(R) Inc. is a startup company of the revolutionary APP.CARSMARTT.COM a ride sharing concept located in Palo Alto CA. (Silicon Valley), at CarSmartt(R) we aim to make long distance traveling safer and more affordable, while connecting with people along the way. CarSmartt(R) members can choose to share a ride or ship a package with the option of applying insurance coverage. All CarSmartt(R) drivers are subject to a background check to reassure the safety of passengers. CarSmartt(R) is currently now active in the USA, Italy, Mexico and Colombia. However, our company will soon continue to expand to Europe, Canada and Latin America.
About: CarSmartt Canada
9385-6516 Quebec Inc., d/b/a Smart Cars Canada, a Canada limited liability company headquartered in Montreal, Canada.
228 Hamilton Ave.
Palo Alto, CA 94301
Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although CARSMARTT(R), Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, CARSMARTT(R), Inc. is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company's ability to meet the conditions necessary to, among other matters, obtain a public listing on a major national exchange.