Facedrive Provides Update Regarding Delay in Interim Financial Statements Due to COVID-19

TORONTO--()--Facedrive Inc. (“Facedrive” or the “Company”) (TSXV: FD), a Canadian “people-and-planet first” tech ecosystem, announces that it wishes to provide an update with respect to its interim financial statements for the interim period ended June 30, 2020. The Company is relying upon the filing extension program announced on May 20, 2020 (the “Temporary Relief”) by the Canadian Securities Administrators extending deadlines to file financial statements and accompanying Management Discussion and Analysis (“MD&A”). The Company confirms that it is relying on the extension in the Temporary Relief in respect of its interim financial statements and MD&A for the interim period ended June 30, 2020, which it intends to file on or before October 13, 2020. Until the Company has filed such financial statements and MD&A, management and insiders of the Company are subject to the Company’s insider trading and black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Other than as previously disclosed by the Company, there have been no material business developments since the date of the interim financial statements and MD&A that were filed by the Company on July 14, 2020.

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 EVs, hybrids 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. For more about Facedrive, visit 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.

Not an Offering or Solicitation

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws or an exemption from such registration 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.

Contacts

Sana Srithas | sana@facedrive.com
Sayan Navaratnam
Chief Executive Officer and Director
Tel: 1-888-300-2228

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Contacts

Sana Srithas | sana@facedrive.com
Sayan Navaratnam
Chief Executive Officer and Director
Tel: 1-888-300-2228