Facedrive Announces Non-Brokered Personal Placement to Services Need | Enterprise & Finance

TORONTO–(Business WIRE)–Jan 18, 2021–

Facedrive Inc. (“ Facedrive ”) (TSXV: FD), a Canadian “people-and-earth first” technologies ecosystem, announces a non-brokered private placement of up to 1,481,481 popular shares of the Company (“ Shares ”), for aggregate gross proceeds of up to $20,000,000 at a selling price of $13.50 per Share (the “ Giving ”). There will be no warrants issued as aspect of the Providing all shares obtained by a placee will be subject matter to a four-month hold period of time from the date of issuance.

The Supplying follows expanding desire for the Company’s TraceSCAN wearable get in touch with-tracing goods thanks to increased engagement with several governments and multinational companies, who are very concerned with the devastating effects of the second and foreseeable future waves of the world wide pandemic COVID-19 on the overall health and basic safety of their constituents and stakeholders. As announced before, the Firm has also seasoned sizeable advancement in its Food items Supply division as the global pandemic has continued to raise need for food shipping and delivery. As these kinds of, Facedrive will be employing the proceeds of the Giving to service pent-up demand from customers for its TraceScan solutions and solutions, Facedrive Foods vertical, continue on enlargement of its Transportation-as-a-Provider enterprise during North America (such as Steer EV, its electric auto subscription company presently working in Washington DC), and basic working money applications.

Completion of the Supplying is subject matter to specified situations such as, but not limited to, the receipt of all important regulatory approvals including the approval of the TSX Undertaking Trade.

Facedrive is a multi-faceted “people-and-world first” tech ecosystem featuring socially-accountable services to regional communities with a solid motivation to carrying out small business rather, equitably and sustainably. As component of this dedication, Facedrive’s vision is to fulfil its mandate through a amount of verticals that either leverage present technologies of the Company or undertaking synergies with current strains of business enterprise (the “ Facedrive Verticals ”). The Facedrive Verticals involve its rideshare enterprise (“ Facedrive Rideshare ”), sustainable e-commerce system (“ Facedrive Market ”), food items-shipping and delivery provider (“ Facedrive Meals ”), e-social platform (“ Facedrive Social ”) and its make contact with-tracing and wellness companies company (“ Facedrive Overall health ”).

Facedrive Rideshare was among the the initially to provide a broad range of environmentally and socially responsible answers in the Transportation as a Assistance (TaaS) place, planting thousands of trees based mostly on person intake and providing selections amongst electrical, hybrid and standard automobiles (such as, far more recently, electric and hybrid cars on a membership basis through Steer). Facedrive Marketplace gives curated products established from sustainably sourced elements. Facedrive Meals presents contactless supply of a large assortment of foodstuff proper to consumers’ doorsteps, with a focus on executing so in a socially and environmentally-acutely aware fashion. Facedrive Social strives to continue to keep folks related in a bodily-distanced globe by means of its HiQ and other e-socialization platforms that invite buyers to interact based on popular passions and by offering gamification and mutual group guidance options. Facedrive Well being strives to develop and offer modern technological answers to the most acute wellness worries such as its proprietary TraceSCAN wearable technology for speak to tracing. Facedrive envisions switching the ridesharing, food items supply, e-commerce, social and health tech narratives for the much better, for everybody, and is currently operational in Canada and the United States.

100 Consilium Pl, Unit 400, Scarborough, ON, Canada M1H 3E3

Ahead-Wanting Info

Sure information in this press launch consists of forward-hunting facts. This details is centered on management’s fair assumptions and beliefs in gentle of the info presently obtainable to us and are manufactured as of the date of this press release. True final results (this kind of as the good results of the private placement and the effective deployment of its proceeds) and the timing of activities may perhaps vary materially from all those predicted in the forward-seeking information as a result of several things. Information and facts about our expectations of long run success, overall performance, achievements, prospective customers or alternatives or the markets in which we work is forward-searching info. Statements containing forward-looking facts are not facts but as an alternative represent management’s anticipations, estimates and projections with regards to long term gatherings or conditions. A lot of components could trigger our true results, degree of exercise, functionality or achievements or potential situations or developments to differ materially from those expressed or implied by the forward-searching statements.

See “Forward-Searching Information” and “Risk Factors” in Facedrive’s Submitting Statement dated August 28, 2019 for a discussion of the uncertainties, pitfalls and assumptions associated with these statements. Viewers are urged to take into account the uncertainties, risks and assumptions thoroughly in assessing the forward-looking info and are cautioned not to area undue reliance on these types of details. We have no intention and undertake no obligation to update or revise any ahead-hunting statements, whether as a consequence of new data, future gatherings or if not, except as needed by applicable securities legislation.

Neither TSX Enterprise Exchange nor its Regulation Products and services Provider (as that term is described in insurance policies of the TSX Undertaking Trade) accepts responsibility for the adequacy or accuracy of this launch.

Get hold of: Media Speak to: Sana Srithas|[email protected] Sayan Navaratnam

Main Govt Officer and Director

Keyword: NORTH America CANADA

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PUB: 01/18/2021 07:00 AM/DISC: 01/18/2021 07:00 AM

Copyright Business Wire 2021.