TORONTO, Ontario–(BUSINESS WIRE)–Facedrive Inc. (“Facedrive”) (TSXV: FD) a “people-and-planet first” tech ecosystem, is pleased to announce that the company has been approved to trade on the OTCQX® Best Market operated by the OTC Markets Group Inc. (OTCQX: OTCM), and the Frankfurt Stock Exchange (“FWB”) Deutsche Börse AG (FRA: 4WR). Facedrive applied to trade on OTCQX and FWB in order to support its expansion plans into the United States and Europe for investors in those regions to be able to invest in Facedrive using platforms and in time zones convenient for them. Facedrive’s first day of trading on OTCQX was October 8th, 2020, while trading on FWB started on Oct 15th, 2020.
FWB, one of the ten largest stock markets in the world and the 3rd largest in Europe by market capitalization (https://en.wikipedia.org/wiki/List_of_stock_exchanges), lists many of the hottest emerging technology companies in Europe. Facedrive shares shall be listed on FWB’s Börse Frankfurt, which offers mainly private investors more than one million securities of German and international issuers. By listing in Europe, Facedrive has extended the trading window of its securities by an additional six hours.
The OTC Markets Group Inc. operates financial markets for over 10,000 U.S. and global securities. The OTCQX Best Market is the elite tier of OTC Markets, and lists only the most established and reputable investor-focused U.S. and international companies. The qualification process for OTCQX is stringent, and requires issuers to fulfill strenuous requirements with regards to financial and governance practices, and also demonstrate full compliance with applicable securities laws. Acceptance to the OTCQX tier marks an important step in the development of Facedrive’s investor relations program, and allows the company to increase visibility and reputation amongst U.S. investors. Trading on OTCQX will complement the company’s current multi-pronged US expansion plan.
“Approval to trade on the Frankfurt stock exchange and OTCQX in the US represent significant milestones in Facedrive’s business plan, which sees our operational expansion coincide with our investor relations program diversification,” said Sayan Navaratnam, Chairman and CEO of Facedrive. “By able to trade in these two venues, we have taken an important first step to directly engage with US and European investors, who will use our eco-friendly services as consumers, and also share in our financial success by investing in our company”.
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 EVs, hybrids and conventional vehicles. Facedrive Marketplace offers curated merchandise created from sustainably sourced materials. Facedrive Foods offers contactless deliveries of 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.
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 the Corporation’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.
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