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.
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