FDVRF - FDVRF STOCK NEWS

Facedrive Inc. (FDVRF) reports significant growth in its Facedrive Foods division, achieving over 5,000 daily delivery orders as of mid-April 2021, a 5% increase since February 2021. Restaurant partnerships near 5,000, with 6,800 drivers and 280,000 active users across 19 Canadian cities, highlight its expanding footprint. Notably, the introduction of multiethnic delivery services boosted order counts by up to 392% in certain markets. Facedrive Foods emphasizes support for local and minority-owned businesses while aligning with the growing demand for responsible service. Future expansion plans are forthcoming.

Facedrive Inc. (TSXV:FD, OTCQX:FDVRF) provided a corporate update for Q1 2021, emphasizing its commitment to socially-responsible technology. The company operates various services, including eco-friendly rideshare, food delivery, health services, e-commerce, and social platforms. Despite a reported revenue growth in 2020, Facedrive Rideshare faced operational challenges due to the pandemic, impacting ride volumes and expansions. Notably, the company acquired Steer Holdings and HiRide to enhance its service offerings, though revenues from HiRide remain negligible due to ongoing pandemic restrictions.

Facedrive Inc. (TSXV: FD) (OTCQX: FDVRF) reports impressive growth in its food delivery service, Facedrive Foods, achieving over 4,500 daily meal deliveries. With nearly 4,650 restaurant partners and more than 260,000 active users across 19 Canadian cities, the company is planning further geographical expansion. The positive reception of new grocery delivery services and enhanced safety features, including a temperature display for drivers, underlines its commitment to user health. By Q1 2021, Facedrive aims to integrate its proprietary TraceSCAN technology for improved COVID-19 safety measures.

Facedrive Inc. (TSXV:FD, OTCQX:FDVRF) has secured a CAD $2,500,000 investment from the Ontario Ministry of Economic Development through the Ontario Together Fund to enhance its COVID-19 contact-tracing solution, TraceSCAN. This funding aims to accelerate the deployment of TraceSCAN across various sectors. TraceSCAN utilizes Bluetooth technology to offer contact tracing for individuals without mobile access and has already seen success with enterprise clients. The Ontario government supports innovative tech solutions to combat the pandemic and stimulate job creation.

Facedrive Inc. (TSXV:FD, OTCQX:FDVRF) has secured CAD $2.5 million in non-dilutive funding from the Ontario Ministry of Economic Development to enhance its COVID-19 wearable contact-tracing technology, TraceSCAN. This funding aims to support the production of approximately 150,000 devices, creating 68 jobs in Ontario. TraceSCAN helps mitigate COVID-19 spread in workplaces by detecting close contacts and alerts users, enhancing safety amid the pandemic. The initiative aligns with Ontario's goal to boost local production of health technologies.

Facedrive, Inc. (TSXV:FD, OTCQX:FDVRF) announces that its subsidiary, Facedrive Health, will integrate VMware's open-source Herald technology into its TraceSCAN health service. This collaboration aims to enhance digital exposure notifications for COVID-19 through reliable Bluetooth communications, fostering global interoperability standards. By joining the Herald community, Facedrive Health seeks to expand the reach of exposure notification solutions, particularly for demographics without smartphone access. Herald's features promise improved accuracy and broad adoption among health authorities.

Facedrive Inc. (TSXV:FD, OTCQX:FDVRF) is set to launch Steer, North America's fastest-growing electric vehicle subscription service, in Toronto, Ontario, in March 2021. This move is a part of Facedrive's expansion strategy in North America. Acquired from Exelorate in September 2020, Steer aims to provide a low-emission alternative to traditional car ownership and has achieved multi-million annual recurring revenues in under a year. The launch aligns with increasing demand for environmentally-friendly transportation and Canada’s strengthened climate initiatives.

Facedrive (TSXV:FD, OTCQX:FDVRF) has successfully completed a non-brokered private placement, raising $20.5 million by issuing 1,518,518 common shares at $13.50 each. The proceeds will support its TraceSCAN products, expand its Facedrive Foods vertical, enhance its Transportation-as-a-Service operations, including Steer EV, and cover general working capital needs. All shares are subject to a four-month hold period. Facedrive focuses on socially-responsible services across multiple sectors, aiming to create a sustainable tech ecosystem.