IRW News: TUGA Innovations, Inc.: TUGA Innovations Launches NFT Marketing Program

IRW-PRESS: TUGA Innovations, Inc.: TUGA Innovations Launches NFT Marketing Program



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– The company is partnering with BACD.IO for the Sustainable Transportation Utility Token

– Announcing online promotional event on December 20 in Dubai

VANCOUVER, BC and LISBON, PORTUGAL – December 20, 2022 – TUGA Innovations, Inc. (CSE: TUGA) (FSE: DQ5) (OTC: TUGAF) (TUGA Innovations or the Company), a company incorporated into TUGA, a novel electric vehicle (EV) solution to urban mobility challenges, is pleased to announce that it has entered into an agreement with NFT specialists BACD.IO and eTUGA.io to mint and commercialize an eTUGA utility token.

The BACD.IO (https://www.bacd.io/) and eTUGA.IO (www.etuga.io) team have developed an integrated service to support the launch of the planned eTUGA Utility Token simultaneously with a newly launched TUGA Augmented To market an augmented reality (AR) app that allows users to experience any TUGA vehicle in a customized augmented reality environment.

Information about the online event

An online event will be held live from Dubai, United Arab Emirates on Tuesday, December 20 at 09:00 ET to provide more information. Those interested can participate via Zoom. Please note, however, that the number of participants is limited.

https://us02web.zoom.us/j/86205626329?pwd=RnNxa0tSeVhURVVOaFBmNFNuMk5vQT09

Event ID: 862 0562 6329

Password: 773502

Visit our website (www.tugainnovations.com) for more information. Also download our app which is also available in Google Play Store or Apple App Store.

The launch of the eTUGA Utility Token will enable participation in the TUGA program by providing access to a range of services under special conditions and environments. Visit the eTUGA website (https://www.etuga.io/) for more information.

As part of the TUGA program, progress has been made in the design and development of the engineering, electronics, software and design of the innovative three-wheeled, all-electric, two-seater vehicle TUGA. Literally no wider than a motorcycle, the TUGA is highly manoeuvrable; a patent-pending, extendable rear axle provides stability at high speeds. In addition, an expandable chassis provides excellent access for passengers and cargo. The concept behind the vehicle is to deliver advanced connectivity technology with an estimated range of 160 km at a speed of up to 140 km/h and more protection than a motorcycle on a platform that allows interchangeable bodies and features.

John Hagie, CEO of TUGA Innovations, explains: We have brought together great partners with eTUGA.IO and BACD.IO to bring our project to market in an innovative way. With this concept, we are positioned to increase market reach using blockchain technology and offer new opportunities for the public to participate in our development.

For the board,

Yours sincerely

~John Hagie~

John Hagie

managing director and director

TUGA Innovations, Inc.

As part of the company’s disclosure requirements as a publicly traded issuer, current financial and key reports can be found under the company’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. We invite the public to visit our website www.tugainnovations.com and sign up for our news alerts to be informed of future news and events. Please watch our video now available on the website and follow us on Instagram, Twitter and LinkedIn.

About TUGA Innovations, Inc. (CSE: TUGA) (FSE: DQ5) (OTC: TUGAF)

TUGA Innovations is an electric car company in the development phase that focuses on the conception, design and production of special electric vehicles to improve mobility in cities. The company aims to solve the challenges of urban mobility by developing a series of 3-wheeled, 2-seater, all-electric vehicles. The vehicle is no wider than a motorcycle for agility and features a patent-pending extendable rear axle for high-speed stability and patent-pending retractable landing gear for passenger comfort. The vehicle will have advanced connectivity technology to provide optimal safety, performance, environmental impact, comfort, maintenance and navigation. Designed for an estimated range of 160 km and an estimated top speed of 140 km/h, the TUGA vehicle offers the comfort of a car and more protection than a motorcycle. It is based on an interchangeable, multi-functional platform with different bodies. To learn more visit: https://tugainnovations.com/, watch our video and follow us on Instagram, Twitter and LinkedIn.

Further information is available from:

TUGA Investor Relations

Phone: +1 415.799.7911

Email: info@tugainnovations.com

Forward-looking statements

This press release contains statements and information that, if not historical fact, may constitute forward-looking information under applicable securities laws. Forward-looking information may include financial and other projections and statements about future plans, goals or financial results or the assumptions underlying them. In some cases, forward-looking statements are qualified by words such as aim, aim, may, would, might, will, likely, expect, anticipate, proposed belief, intend, intention, forecast, project, estimate, hope for, have potential, or the negative or other similar terms referring to conditions that are not historical facts. Examples of such statements include, but are not limited to, statements about addressing the challenges of driving in, between and around city centers and metropolitan areas, the launch and creation of the eTUGA Utility Token and the expected benefits thereof; provision of participation in the TUGA Program through the eTUGA Utility Token; the launch of the TUGA Metaversum app and associated functionality, including a virtual test drive; the commercialization of the company’s vehicle concepts, including the development of a range of vehicles, the vehicle’s design, including three-wheel drive, the number of seats, an optional set of advanced digital communication and navigation features, the vehicle’s width, the vehicle’s extended rear axle, as well as expected passenger comfort and cargo capacity, the vehicle’s advanced connectivity features and expected benefits, vehicle range and top speed, and vehicle safety, performance and comfort.

Forward-looking information is based on management’s assumptions, estimates, analyzes and opinions made in the light of management’s experience and perception of trends, current conditions and expected developments and other factors that management believes are relevant and reasonable at the time such statements are made. which, however, may turn out to be wrong. Material factors and assumptions used in the development of the forward-looking information contained in this press release include, but are not limited to, the continued commitment of key personnel and qualified employees to the Company, the Company’s ability to obtain additional financing, reasonable terms, the conditions of the competition in the industries in which the company operates and the laws that apply to the company and changes thereof.

Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, performance or performance to differ materially from the results, performance or performance expressed or implied in the forward-looking information, including but not limited to risks related to the Company’s future business plans; risk that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all; and all other risks described in the Company’s final prospectus dated 30 November 2021 under the heading Risk Factors. Accordingly, readers should not place undue reliance on such forward-looking information. In addition, any forward-looking information speaks only as of the date it is made. New factors arise from time to time and it is not possible for management to update all of them in order to anticipate these factors and anticipate the impact of each of these factors on the Company’s business or the extent to which any factor or combination of factors may cause, that actual results differ materially from those contained in the forward-looking information the Company undertakes no obligation to update any forward-looking information to conform to information or events after the date on which it is made or to reflect the occurrence of unforeseen events, except as required by law, including by the Securities and Exchange Commission set.

CSE assumes no responsibility for the adequacy or accuracy of this press release.

The source language (usually English) in which the original text is published is the official, authorized and legal version. This translation is included for better understanding. The German-language version can be shortened or summarized. No responsibility or liability is accepted for the content, correctness, adequacy or accuracy of this translation. From the translator’s point of view, the report does not constitute a buy or sell recommendation! Please note the original English notice at www.sedar.com, www.sec.gov, www.asx.com.au/ or on the company website!

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