TORONTO–(BUSINESS WIRE)–Facedrive Inc. (“Facedrive” or the “Corporation”) (TSXV: FD), the first Canadian peer-to-peer, eco-friendly ridesharing network, today announced that it has entered into a Strategic Service Advisory Agreement with Freshwater Advisors (“Freshwater”) to assist Facedrive in sourcing and developing environmentally focused partnerships to support Facedrive’s growth initiatives, specifically in the United States. Freshwater is a U.S.-based national venture catalyst and innovation consultancy firm that connects businesses to entrepreneurial ecosystems, such as Facedrive.
Under the terms of the Strategic Service Advisory Agreement, Freshwater will provide advisory services, including serving on Facedrive’s Advisory Board, with a focus on leveraging Freshwater’s network of corporate and technology relationships in order to assist Facedrive in securing potential partnerships with partners whose interests are aligned with Facedrive’s initiatives.
“We identified the need to engage with a rich-networked organization to bring us to new markets in the United States and help educate these markets on the benefits of Facedrive,” said Sayan Navaratnam, Chairman and CEO of Facedrive. “Facedrive’s mission is to reduce carbon emissions by offering more services, beyond simply the transportation of people, and securing new partnerships with forward-thinking organizations will spawn new service concepts that we expect will ultimately grow our value.”
Freshwater’s list of partners includes strategic organizations in various sectors desirable to Facedrive, including Energy, Municipal Governments, Green Venture Funds and Foundations which have mandates for innovation and sustainability.
“Our network is vast, and rich with meaningful relationships that we will bring to Facedrive,” said David Weinstein, CEO of Freshwater. “We will make these strategic introductions, including preparing research and value proposition materials for the discussions, participating in these meetings, and working on structuring strategic deals to ensure the most productive mutual partnership objectives are realized.”
As founder and CEO of Freshwater, David Weinstein’s clients have included Exelon, Caterpillar, Northwestern Mutual, AbbVie, Allstate, Hyatt Corporation, Energize Ventures, Clean Energy Trust, Cummins, Microsoft, and CME Group.
The Freshwater process begins by conducting research in desired sector areas and offering insights and reports on potential corporations in complementary industry verticals. In addition to scouting deal flow and conducting due diligence, Freshwater then works with businesses to develop formal partnerships and tools for pilot engagements with emerging growth companies, such as Facedrive. Freshwater offers tracking, operational support, and relationship management between both parties to facilitate the process, ensuring progress is made.
By scouting early stage technologies and evaluating new ventures for investment and partnership opportunities, Freshwater helps corporate clients speed to market new innovations. Freshwater’s proprietary technology platform provides corporations with customized start-up portfolios, market insights, and tracking tools to help them effectively scout and engage with innovative start-up companies. Since the company’s founding in 2013, Freshwater has worked with 25 major corporations, including 18 Fortune 500 companies. Additional information about Freshwater Advisors is available at freshwateradvisors.com.
Facedrive is a unique people and planet first ride-sharing 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. For more about Facedrive, visit www.facedrive.com.
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.
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.