Autonomous delivery testing expected to follow in second half of 2024
VANCOUVER, BC and INDIANAPOLIS, IN / ACCESSWIRE / February 8, 2024 / Bruush Oral Care Inc. (NASDAQ:BRSH) ("Brüush") announced today that its pending merger partner, Arrive Technology Inc. ("Arrive"), a technology company focused on facilitating the last inch of the last-mile for autonomous delivery, has signed an agreement with AllMart Marketplace ("AllMart") to initially deploy up to 25 Arrive smart mailboxes to facilitate secure deliveries on the island nation of Antigua.
AllMart, an online retailer currently making approximately 120,000 deliveries per year to consumers in Antigua will offer customers, by the month of May, the option for ‘secure delivery' in addition to the current choices of ‘leave it at my door' or ‘hand it to me'.
"We're very pleased to add this improved service to our clients, who sometimes cannot be at home to receive deliveries and are forced to contend with damage from weather, animals or other issues that can occur when a package is simply left at your door," said Andrew Doumith, AllMart's Head of Operations. "We look forward to our partnership with Arrive leading to further improvements, such as drone delivery, in the future."
AllMart consumers will initially share use of the Arrive smart mailboxes. Customers will receive unique personal identification numbers, so only they can access the mailbox to retrieve their orders, with Arrive's proprietary technology ensuring accurate deliveries. More Arrive mailboxes will be added over time as demand increases, Doumith said.
Arrive CEO Dan O'Toole said the deployment of Arrive mailboxes in Antigua results from Arrive's recent acquisition of Airbox Technologies Inc. ("Airbox") and its patent portfolio. Airbox had a pre-existing relationship with AllMart but had yet to begin facilitating deliveries.
"We acquired Airbox to enhance our own, first-position patent portfolio but also to speed up our deployment plans," O'Toole said. "Moderate regulations and more open skies make Antigua an ideal testing ground and will quickly demonstrate to the world how our Mailbox-as-a-Service platform and autonomous delivery will transform the last mile of package delivery."
As deployment of Arrive's smart mailboxes is being executed over the coming months, O'Toole noted his team is also working to add autonomous delivery to AllMart's delivery options. "We're hoping to expand the number of units on the ground, delivery modes and service options very quickly," he said.
AllMart is a subsidiary of ACT Antigua, which sells a wide array of consumer goods including food, alcohol, medicine, tools and home décor. It currently offers island-wide, fast on-demand or scheduled order delivery via human drivers. Autonomous delivery could hasten the delivery time, provide a secure space for the items, and enhance efficiency as drivers would no longer have to search for specific apartments or remote locations.
Merger Between Brüush and Arrive
On December 14, 2023, Brüush and Arrive entered into an agreement and plan of merger (the "Merger"). The business combination, conducted in the form of a reverse triangular merger via an all-stock transaction, includes the registration of the securities issued by the continuing surviving corporation ("Surviving Corporation") upon the closing of the Merger. The Surviving Corporation will focus on the advancement and implementation of Arrive's smart Mailbox-as-a-Service platform that makes the exchange of goods between people, robots and drones frictionless through the use of artificial intelligence. The Surviving Corporation is expected to operate under the name Arrive Technology Inc., with its shares listed on the Nasdaq Capital Market under the ticker symbol ‘ARRV'. The Merger is expected to close in the second quarter of 2024, subject to customary closing conditions.
Additional details and support documents about the Merger have been provided in Form 6-K and Form F-4 filed by Brüush with the Securities and Exchange Commission ("SEC") publicly available at www.sec.gov.
About Arrive Technology Inc.
Headquartered in Indianapolis, Indiana, Arrive (formerly Dronedek) is a technology company focused on facilitating the last inch of the last-mile for autonomous delivery. Founded by serial entrepreneur Dan O'Toole, Arrive's smart Mailbox-as-a-Service platform makes the exchange of goods between people, robots and drones frictionless through the use of artificial intelligence. Arrive's patented smart mailbox system leverages climate-assisted cargo space, smart alerts and advanced chain of custody controls to secure the last inch of the last-mile for all shippers, delivery services and autonomous delivery networks. Arrive's solutions are critically and uniquely positioned in the supply chain to leverage its unique data assets for artificial intelligence to provide users with machine-learning based insights that can aid businesses and consumers to lower logistical costs and capture new growth opportunities, among other benefits.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are based upon current plans, estimates and expectations of the management of Brüush and Arrive in light of historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Words such as "anticipate," "expect," "project," "intend," "believe," "may," "will," "should," "plan," "could," "continue," "target," "contemplate," "estimate," "forecast," "guidance," "predict," "possible," "potential," "pursue," "likely," and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. All statements, other than historical facts, including statements regarding the expected timing of the closing of the merger; the ability of the parties to complete the proposed transaction considering the various closing conditions of the merger; the expected benefits of the merger; the competitive ability and position of the company after the transaction contemplated; and any assumptions underlying any of the foregoing, are forward-looking statements. Additional factors that may affect the future results of Brüush are set forth in its filings with the United States Securities and Exchange Commission, including Brüush's most recently filed Annual Report on Form 20-F, current reports on Form 6-K and other filings with the SEC, which are available on the SEC's website at www.sec.gov. The risks and uncertainties described above and in the SEC filings are not exclusive and further information concerning Brüush and Arrive and their respective businesses, including factors that potentially could materially affect their respective businesses, financial conditions or operating results, may emerge from time to time. Readers are urged to consider these factors carefully in evaluating these forward-looking statements and not to place undue reliance on any forward-looking statements. Readers should also carefully review the risk factors described in other documents that Brüush and Arrive files from time to time with the SEC. The forward-looking statements in this release speak only as of the date of this release. Except as required by law, Brüush and Arrive assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.
No Offer or Solicitation
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
Media Relations Contact:
Cheryl Reed
cheryl@arrive.tech
SOURCE: Bruush Oral Care Inc.
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