Facedrive Inc. (Facedrive) (TSXV: FD), the first Canadian peer-to-peer, eco-friendly and socially responsible ridesharing network, is pleased to announce that it has received approval from the Ontario Superior Court of Justice (Commercial List) of its asset acquisition transaction (Transaction) with Foodora Inc. (Foodora Canada) on July 8th, 2020. Facedrive initially disclosed the Transaction on May 14, 2020, by announcing that it had entered into a binding term sheet with Foodora Canada in the proposal proceedings commenced by Foodora Canada under the Bankruptcy and Insolvency Act.
More details will be provided upon the closing of the Transaction.
Facedrive is a multi-faceted people-and-planet first platform offering socially-responsible services to local communities with a strong commitment to doing business fairly, equitably and sustainably. Facedrive Rideshare was the first to offer green transportation solutions in the TaaS space, planting thousands of trees and giving users a choice between electric, hybrid and conventional vehicles. Facedrive Marketplace offers curated merchandise created from sustainably sourced materials. Facedrive Foods offers contactless deliveries of a wide variety of foods with the focus on healthy foods right to consumers doorsteps. Facedrive Health develops innovative technological solutions to the most acute health challenges of the day. Facedrive is changing the ridesharing, food delivery, e-commerce and health tech narratives for the better, for everyone. Facedrive is currently operational in the following cities and municipalities of Ontario: The Greater Toronto Area, Ottawa, Hamilton, London, Guelph, Kitchener, Waterloo, Cambridge and Orillia.
For more about Facedrive, visit www.facedrive.com.
Facedrive Inc. 100 Consilium Pl, Unit 400, Scarborough, ON, Canada M1H 3E3 www.facedrive.com
Certain information in this press release contains forward-looking information. This information is based on managements reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release. Actual results and the timing of events may differ materially from those anticipated in the forward-looking information as a result of various factors. Information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. Statements containing forward-looking information are not facts but instead represent managements expectations, estimates and projections regarding future events or circumstances. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements.
See Forward-Looking Information and Risk Factors in Facedrives Filing Statement dated August 28, 2019 for a discussion of the uncertainties, risks and assumptions associated with these statements. Readers are urged to consider the uncertainties, risks and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Media: Sana Srithas | [email protected]
Chief Executive Officer and Director