RCS - Sky Technologies - SKYX Secures 10-Year Roof Rights for Signage

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29/09/2022 14:30

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RNS Number : 2037B  SKYX Platforms Corp (dba Sky Tech)  29 September 2022

SKYX Secures 10-Year Roof Rights for Signage on One of The Tallest Buildings
in Miami

The Brand-New Building is Located in Downtown Miami on US-1, Across From Miami
Heat FTX Arena and Biscayne Bay

Due to the Unique and Strategic Location of the Building, the SKYX Roof Signs
are Expected to be Seen by Tens of Millions, Including on TV Shows and Skyline
Miami Imagery, Creating Significant SKYX Brand Awareness

MIAMI, FL / ACCESSWIRE / September 29, 2022 / SKYX Platforms Corp.
(NASDAQ:SKYX) (d/b/a "Sky Technologies") ("SKYX," "we" or "the Company"), a
highly disruptive platform technology company with over 60 issued and pending
patents globally for simplifying and enhancing safety and automation in homes
and buildings, today announced that it secured a 10-year roof right lease for
signage on one of the tallest buildings in downtown Miami, across the street
from the Miami Heat FTX Arena and Biscayne Bay.

The new building is located on 400 Biscayne Blvd (US-1) and will include
office space, residential as well as a high-end modern hotel. The downtown
Miami area is both a U.S. and international hub for world leading companies -
with the SKYX rooftop signage expected to be seen by tens of millions,
including on TV shows and on Miami skyline imagery.

As part of the lease, SKYX has also secured a high-end, state of the art, high
ceiling office space with 360-degree views and expects to open its U.S. and
international sales offices, as well as its corporate headquarters, in the new
location in 2023. As part of the agreement, the Company can start paying rent
in January 2024. In addition, the Landlord will provide the Company with an
improvement allowance of up to $2.25 million, which may be used for the
construction of the Premises, including the reasonable cost of design, space
planning, consultants, and construction drawings. The Company intends to use
part of the office space and to sublease the remainder to minimize expenses.

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: "Securing
a long-term lease for SKYX signage and offices in the heart of downtown Miami
provides an incredible level of brand awareness for SKYX. As reported, FTX
paid $135 million to secure a long-term lease for naming of our next-door
neighbor's building, the Miami Heat Arena, now called FTX arena - and that
speaks for itself.

"As we position ourselves to embark on our commercialization journey, this
provides a significant foundation for our company on many levels. I look
forward to moving into this exciting new space and elevating our public
profile through continued operational execution, with the objective of
creating sustainable, long-term value for our shareholders," concluded Kohen.

To view images of the new office location, click here:
https://skyplug.com/pr7/ (https://pr.report/z9OAMqKs)

To learn more about SKYX's technology, access the explainer video link here:
SkyXPlug.com/video (https://pr.report/GgIF42-a)

About SKYX Platforms Corp.

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 standard.

SKYX Platforms Corp. (NASDAQ: SKYX) has a series of highly disruptive
advanced-safe-smart platform technologies, with over 60 U.S. and global
patents and patent pending applications. 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 https://skyplug.com
(https://pr.report/eASvC29X) or follow us on LinkedIn
(https://pr.report/Uu9haKqW) .

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking
statements. Management has based these forward-looking statements on its
current expectations, assumptions, estimates and projections. While they
believe these expectations, assumptions, estimates and projections are
reasonable, such forward-looking statements are only predictions and involve
known and unknown risks and uncertainties, many of which are beyond
management's control. These statements involve risks and uncertainties that
may cause the Company's actual results, performance or achievements to differ
materially from any future results, performance or achievements expressed or
implied by these forward-looking statements. Our estimates of the addressable
market for our products may prove to be incorrect. The projected demand for
our products could materially differ from actual demand. Forward-looking
statements speak only as of the date they are made and include statements
relating to the Company's ability to successfully launch, commercialize,
develop additional features and achieve market acceptance of its smart
products and technologies, including commencement of presales, the Company's
efforts and ability to drive the adoption of Sky's Plug Smart Platforms into
multi-family residential buildings and communities and adoption by hotels,
ability to capture market share, ability to execute on any sales and licensing
opportunities, ability to achieve code mandatory status for the SkyPlug, and
other risks and uncertainties described in the Company's filings with the
Securities and Exchange Commission. Readers are cautioned not to put undue
reliance on forward-looking statements, and, except as required by law, the
Company assumes no obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information, future
events, or otherwise.

For the terms of the lease, see the Company's current report on Form 8-K filed
with the Securities and Exchange Commission on September 29, 2022. Under the
terms of the lease, the Company does not expect to pay any rent for the first
fourteen months of the lease, taking into account a six month build out period
(which may be extended for up to four months), and four additional months of
rent abatement after the rent commencement date. The Company may extend the
build out period for four one month periods, provided that for each one month
extension exercised, the annual base rent will increase by $1.00 per square
foot. The signage is subject to obtaining necessary permits. The images
included in this press release are for demonstration purposes only and are not
necessarily representative of any signage expected to be installed.

Investor Relations Contact:

Lucas A. Zimmerman

MZ North America

(949) 259-4987
SKYX@mzgroup.us (mailto:SKYX@mzgroup.us)

SOURCE: SKYX Platforms Corp. dba Sky Technologies

 

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