TORONTO, April 20,
2022 /CNW/ - Facedrive Inc. (the "Company")
(TSXV: FD), (OTCQX: FDVRF) is pleased to announce its plans for a
corporate name change to "Steer Technologies Inc." ("STEER")
including a restyling of most offerings to "STEER", a brand that
the Company acquired from Exelon in September of 2020. The
rebranding will include a stylized "E" (from the word STEER)
as the Company's logo, emphasizing the Company's ESG
(Environmental, Social
and Governance) DNA and values.
The Company feels the new name and logo better
encapsulate
the entirety of its value proposition as an integrated ESG technology platform
offering on-demand
and subscription-based mobility services aimed at bringing
people together, through conscientious
commerce, and moving the world forward.
As such, the Company sees the rebranding as a catalyst
to further demand for its growing EV subscription and other
mobility based services such as delivery, reflecting the next stage
in the evolution of its original transportation and technology
mandate.
The Company anticipates the rebranding of offerings to start
immediately and be substantially complete within Q2 2022. The
Company also intends to announce a formal notice of shareholder
meeting in the coming weeks where it will seek approval for
Articles of Amendment to effect an official corporate name change
to "STEER Technologies Inc.", among other business.
"We are extremely excited to reposition our brand as "STEER". We
always want our brand to represent: 1) a means to steer the world
towards eco-friendliness and social responsibility; 2) the
agility and nimbleness necessary to steer us into the future;
and 3) the global dynamics of diversity
and growth that will require responsible leaders to steer the world
through. In business terms, we envision ourselves to be at the
cutting edge of steering the mobility industry into this new era of
On-Demand and Pay-As-You-Go Subscription services," said
Suman Pushparajah, CEO of the
Company.
About the Company
Facedrive is an integrated ESG technology platform offering
on-demand and subscription-based mobility services aimed at
bringing people together, through conscientious commerce, and
moving the world forward. As part of this commitment, the Company's
vision is to bring people together in conscientious commerce
through a series of connected-offerings that serve as entry points
for targeted ESG-conscious users and enterprises. The Company's
offerings generally fall into two categories: On-Demand services
incorporating Rideshare and Delivery businesses, and
Subscription-based offerings led by its flagship electric vehicle
subscription business, Steer EV, and others such as its health
technology business. The Company's intention is for its entire
platform to ultimately be powered by EcoCRED, the company's
interactive carbon credits analytics, trading and
education platform.
For more about the Company, visit www.facedrive.com.
Facedrive Inc.
100 Consilium Pl, Unit 400, Scarborough, ON , Canada M1H 3E3 www.facedrive.com
Forward-Looking Information
Certain information in this press release contains
forward-looking information, including with respect to Facedrive's
business, operations and condition, management's objectives,
strategies, beliefs and intentions, and the company's forward plans
to rebrand. This information is based on management's 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, including an inability on part of the
Company to get shareholder or TSXV approval for the corporate name
change. 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 management's 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
Facedrive's Annual Management Discussion & Analysis (MD&A)
for the year ended December 31, 2020
(filed on SEDAR on April 30, 2021) and its interim
MD&A for the period ended September 30,
2021 (filed on SEDAR on November 29,
2021) for a discussion of the uncertainties, risks and
assumptions associated with these statements and other risks.
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 legislation
and regulatory requirements.
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.
SOURCE Facedrive Inc.