Facedrive Announces Closing of $1M Private Placement
Summary
All shares issued pursuant to the Private Placement are subject to a four-month hold period, while funds raised are to be used for business development, market expansion and driver and rider acquisition. “This financing gives Facedrive the ability to scale-up in its pursuit of driver and rider acquisition” said CEO Sayan Navaratnam in a statement, “we are positive about the momentum this will give us and look forward to continuing to find ways to grow our core businesses in a sustainable and responsible manner.” Facedrive is a unique people and planet first ridesharing platform committed to doing business fairly and equitably. As a community platform, drivers are real partners in the company, benefitting from uniquely customized incentives and rewards that reflect a dedication to shared success. 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. 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.