Facedrive Receives Court Approval for the Acquisition Of Certain Assets of Foodora Canada
July 09 2020 - 5:00AM
Business Wire
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.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20200709005292/en/
More details will be provided upon the closing of the
Transaction.
About Facedrive
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
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 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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200709005292/en/
Media: Sana Srithas | sana@facedrive.com
Sayan Navaratnam Chief Executive Officer and Director Tel:
1-888-300-2228
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