TUGA appoints transport industry leaders to the advisory board

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Vancouver, British Columbia and Lisbon, Portugal, May 17, 2022 (Globe Newswire) – TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF) (“TUGA Innovation,” or “Company”), creating solutions to urban mobility challenges SorryA new type of electric vehicle (“EV”) is pleased to announce the immediate appointment of Mr. Fernando Pinto, an experienced transport industry executive, as a member of the effective inaugural advisory board.

Mr. Fernando Pinto previously served as CEO of TAP Portugal Airlines (2000 – 2018). He was the former president and CEO of Brazilian airline Varig SA (1996 – 2000) and is currently working for Free Flight Consulting, LDA, based in Sintra, Portugal. Mr Pinto was also chairman of the AEA-Association of European Airlines (2005) and the IATA-International Air Transport Association (2007-2008). Throughout his career he has received various decorations and awards such as the Aeronautical Award; Santos Dumont Award; Recognition of the Grand Officer of the Superior Labor Court and the Superior Military Court Award and the decoration of the Portuguese Merit Order. He holds a degree in Mechanical Engineering and an extension in Business Administration from the Federal University of Rio de Janeiro and several technical specializations in aeronautics. Mr. Pinto has been a personal pilot, glider pilot and flight instructor for over 50 years.

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The TUGA Innovation Board of Advisors has been set up to assist the company’s management and board members on sector and market trends, initiatives and opportunities. The plan of the Advisory Board aims to bring access to a wide network of industrial communications and programs across the public and private sectors, government ministries and state offices. The aim is to attract industry-leading individuals and engage with TUGA Innovation and to advance ideas to support TUGA Innovation and to participate in the development of strategic solutions to address the growing shift in urban mobility policy around the world.

Fernando Pinto, a member of the TUGA Innovations Advisory Board, notes, “I have known several members of the TUGA team for many years. They are innovative, knowledgeable, and enjoy working with them. In our discussions regarding the orders of the Advisory Board, I noticed that the team has an excellent vision for their contribution to resolving urban mobility. Glad to discover my engineering background and sensitivity to design a very innovative and handsome car. I am fascinated and looking forward to being closely involved in this exciting initiative. “

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John Haggi, CEO of the company, added: “We are grateful that Fernando Pinto has joined us as a founding member of our Advisory Board. Her amazing career experience, her skills and wide network of communication are invaluable for our advice and guidance. We appreciate her professionalism and measured communication style. We look forward to working with you to enhance our brand, our product line and ultimately the value of our shareholders. “

On behalf of the Board of Directors,

6 John Haggy 6

John Haggie
Chief Executive Officer and Director
TUGA Innovation, Inc.

As part of the Company’s obligation to disclose as a public issuer, ongoing financial and material filings will be available under the Company Profile under the System for Electronic Document Analysis and Retrieval (SEDAR). www.sedar.com.

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About TUGA Innovation, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF)

TUGA Innovations is a development-level electric vehicle company that designs, designs and manufactures specialized EVs to enhance the urban mobility experience. The company wants to reduce the difficulty of urban movement by building a three-wheeled, fully electric front and rear 2-seater car. The car will not be wider than a motorcycle for agility and will have a patent pending extended rear axle for high-speed stability and a proposed patented pending expandable chassis and body length for passenger comfort. The car will offer advanced connectivity technology to maximize safety, performance, environmental impact, comfort, maintenance and navigation. The TUGA car is designed to offer a range of approximately 160 km, with the convenience of a vehicle approximately a maximum speed of 140 km / h and with more protection than a motorcycle on an interchangeable multi-body, multi-function platform. Learn more here: https://tugainnovations.com/.

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For more information, please contact:
TUGA Investor Relations
Telephone: +1 415.799.7911
Email: [email protected]

Front statement

This press release contains statements and information that, unless historically true, may constitute “advance information” within the meaning of applicable securities law. Advanced data may include statements regarding financial and other estimates, as well as future plans, objectives, or economic performance, or any of the aforementioned assumptions. In some cases, frontal statements may be identified by the words “target”, “target”, “girl”, “will”, “can”, “will”, “possible”, “expected”, “expected”, ” Expression of “belief”, “will”, “plan”, “prediction”, “project”, “conjecture”, “vision”, “hope”, “probability” or its negative or other similar historical event. Examples of such statements include, but are not limited to, statements related to the company’s Board of Advisors, which gives the company access to a wide network of industrial communications and programs across the public and private sectors, government ministries and state offices, the company continues its brand, product line and Increase the value of shareholders; The company attracts industry-leading individuals to communicate and support TUGA innovation; Fernando Pinto’s involvement with the company; Commercialization of the company’s autonomous concept, vehicle width, extended rear axle features of the vehicle, improved connectivity features and expected features of the vehicle, and the vehicle’s km range and maximum speed, safety and platform provided by the vehicle.

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Predictive data is based on assumptions, assumptions, analysis and perceptions of trends, current conditions and perceptions of expected development, as well as other factors that management considers relevant and reasonable. Circumstances on which such statements are made, but which may be proved wrong. The foresight in this news release includes material reasons and assumptions used to develop, but not limited to, key employees and qualified employees continuing their involvement with the company; The ability of the company to secure additional financing on reasonable terms; The competitive state of the industry where the company operates; And any applicable laws and amendments to the Company.

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Advanced information includes known and unknown risks, uncertainties and other factors that may differ materially from the company’s actual results, performance or achievement from future results, performance or achievement or implied by advance information, including, without limitation, the company’s future business plan. Related risks; The risk is that the company will not be able to retain its key employees; Risks that the Company may not finance on reasonable terms or at all, as well as all other risks as described in the Company’s Final Prospectus dated November 30, 2021 under the heading “Risk Risk”. Accordingly, readers should not unnecessarily rely on any such far-sighted information. Moreover, any far-sighted information speaks only of the date on which such a statement was made. From time to time new factors emerge, and it is not possible for the management of the company to predict all such factors and to evaluate in advance the effect of each of these factors or the amount of any factor, or a combination of factors, on the company’s business. Actual results may differ materially from the results contained in any visionary information. Except as required by law, including the Securities Act, the Company assumes no obligation to update any advance information after that date to reflect information or events or to reflect the occurrence of unforeseen events.

CSE does not accept responsibility for the adequacy or accuracy of this disclosure.



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