HYRE - HyreCar names new interim CEO

• HyreCar ( NASDAQ: HYRE ) has appointed Eduardo Iniguez as Interim CEO and provided an update on its joint venture with AmeriDrive.
• HyreCar's new Interim CEO will be focuseed on managing the joint venture as it continues to acquire and deploy cars.
• Iniguez joins the company from aerospace and defence company AllClear, where he was the VP of Corporate Finance and served as CFO of one of the company’s joint ventures.
• Meanwhile, HyreCar's joint venture has purchased over 1,300 vehicles for $25M, drawn from a $100M revolving line of credit for its fleet partner, AmeriDrive.
• More than 200 net new cars have been in-fleeted with utilization approaching 70%. The remaining vehicles will be in-fleeted within 60 days after they are reconditioned and moved to new markets.

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