SOBR Safe Announces Closing of Additional $1.7 Million Financing
SOBR Safe Now in Financial Position to Commercialize SOBR™Check Technology
BOULDER, Colo., Aug. 5, 2020 /PRNewswire/ -- SOBR® Safe, Inc. (OTC Pink: SOBR) (www.sobrsafe.com), developers of the patented non-invasive alcohol detection system SOBR™Check, further strengthened its balance sheet today as it has closed on the remaining $1.7 million of its $2.7 million in financing from the sale of its Series A-1 Preferred Stock to SOBRSafe LLC, a special purpose vehicle (SPV) formed to advance the commercialization of its flagship product. SOBR™Check, currently in pilot testing with a multinational employer, is a potentially disruptive solution in blood alcohol detection - a touch-based technology with anticipated applications in school buses, commercial fleets, facility access control and more.
"We are pleased that SOBR Safe LLC had interest in increasing the investment target from $2.0 million to $2.7 million," stated President and CEO Kevin Moore. "We believe that investors recognize alcohol as a significant danger on our roadways and in our workplaces, and that current solutions focus on punishing…instead of preventing. With SOBR™Check, we believe employers could soon eliminate alcohol-related accidents from their operations."
About SOBR® Safe, Inc. (www.sobrsafe.com)
SOBR Safe, Inc. has developed and patented a non-invasive alcohol sensing system – SOBR™Check. SOBRCheck is a potentially disruptive solution in alcohol consumption detection - a touch-based technology with anticipated applications in school buses, commercial trucking fleets, facility access control and more. Across industries, the headlines are consistent: alcohol is a clear and present danger - impaired operation destroys lives, families and companies alike. SOBR Safe's mission is to eliminate the destructive impact of alcohol on our roadways and workplaces…with just the touch of a finger.
Forward Looking Statement
SOBR Safe, Inc.'s statements in this press release that are not historical fact and that relate to future plans or events are forward-looking statements. Forward-looking statements can be identified by use of words such as "believe," "expect," "plan," "anticipate," and similar expressions. These forward-looking statements include risks associated with changes in business conditions and similar events. The risks and uncertainties involved include those detailed from time to time in SOBR Safe, Inc.'s filings with the Securities and Exchange Commission, including SOBRSafe, Inc.'s most recent Annual Report on Form 10-K.
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SOURCE SOBR Safe, Inc.
Released August 5, 2020