Mr. Anwar Sukkarie reports
LOOPSHARE ANNOUNCES $187,500 PRIVATE PLACEMENT
Loopshare Ltd. has arranged a private placement of $187,500.
The private placement is a non-brokered offering of 750,000 units of the issuer at a price of 25 cents per unit. Each unit will comprise one common A share and one common share purchase warrant, each warrant being exercisable to acquire one common share at a price of five cents per common A share for a period of one year following the closing date of the private placement.
The proceeds will be used for costs related to the purchase of at least 300 scooters to supply current opportunities in Vancouver, Beirut, Orange county and Japan, to evaluate other opportunities, to provide working capital, and to reduce the company's debt.
The TSX Venture Exchange has not approved the transaction yet, but the process is set in motion.
About Loopshare Ltd.
Loopshare, a Vancouver company established in 2009, and its wholly owned subsidiary, Saturna Green Systems Inc., have commercialized a first-generation, wireless ruggedized seven-inch touch screen dashboard with telematics functionality for electric inner-city vehicles. Loopshare's highly specialized display enables a broad range of services for consumer, tourism or commercial use.
Loopshare's purpose is to develop and deploy connected end-to-end solutions for inner-city transportation vehicles, specifically geared toward transportation as a service. Through zone operators worldwide, Loopshare will implement TaaS solution to offer commuter convenience and tourist applications to subscribers based on Loopshare's commuter/tourism/business-focused, unique, state-of-the-art wireless two-wheel electric sharing technology.
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