TORONTO, Oct. 4, 2021 /CNW/ - Facedrive Inc.
("Facedrive" or the "Company") (TSXV: FD) (OTCQX:
FDVRF) announces that it has received a notice of resignation from
its auditor and the Company has begun the formal change of auditor
process under National Instrument 51-102 – Continuous Disclosure
Obligations ("NI 51-102"). As part of this process, the
Company will soon provide further details in a reporting package
regarding the auditor's resignation in accordance with section 4.11
of NI 51-102. There were no disputes with the auditor at the
time of resignation. The Company is in the process of
selecting a successor auditor from a number of qualified
firms.
The Company also announces that its Chief Financial Officer,
Fairy Lee, who in late-August
provided notice of her intention to resign from her role with the
Company in September 2021, has agreed
to continue to serving as the Company's CFO until the Company
appoints her successor, the process for which remains active and
ongoing.
Further to an earlier corporate update dated September 1, 2021, the Company will also be
filing on SEDAR the forms of lock-up agreement entered into with
various shareholders.
About Facedrive
Facedrive is a multi-faceted "people-and-planet first" tech
ecosystem offering socially-responsible services to local
communities with a strong commitment to doing business fairly,
equitably and sustainably. As part of this commitment, Facedrive's
vision is to fulfil its mandate through a number of services that
either leverage existing technologies of the Company or project
synergies with existing lines of business.
Facedrive's service offerings include its: (i) eco-friendly
rideshare business, Facedrive Rideshare; (ii) food delivery
service, Facedrive Foods; (iii) electric and hybrid vehicle
subscription business, Steer; (iv) contact-tracing and connected
health technology services, Facedrive Health; (v) e-commerce
platform, Facedrive Marketplace; and (vi) e-social platform,
Facedrive Social. Facedrive Rideshare was among the first to offer
a wide variety of environmentally and socially responsible
solutions in the Transportation as a Service (TaaS) space, planting
thousands of trees based on user consumption and offering choices
between electric, hybrid and conventional vehicles (including, more
recently, electric and hybrid vehicles on a subscription basis
through Steer). Facedrive Marketplace offers curated merchandise
typically created from sustainably sourced materials and linked to
social causes. Facedrive Foods offers contactless delivery of a
wide variety of foods right to consumers' doorsteps, with a focus
on doing so in a socially and environmentally-conscious manner.
Facedrive Social strives to keep people connected in a
physically-distanced world through its HiQ and other
e-socialization platforms that invite users to interact based on
common interests and by offering gamification and mutual community
support features. Facedrive Health strives to develop and offer
innovative technological solutions to the most acute health
challenges including its proprietary TraceSCAN wearable technology
for contact tracing.
Facedrive envisions changing the ridesharing, food delivery,
e-commerce, social and health tech narratives for the better, for
everyone, and is currently operational in Canada and the
United States.
For more about Facedrive,
visit www.facedrive.com.
Facedrive Inc.
100 Consilium Pl, Unit 104, Scarborough,
ON, Canada M1H 3E3
www.facedrive.com.
Forward-Looking Information
Certain information in this press release contains
forward-looking information. 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
(such as its transition to a new CFO and successor auditor) 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 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 March 31, 2021 (filed on SEDAR on May 31, 2021) and June 30,
2021 (filed on SEDAR on August 31,
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.