Vancouver –– May 15, 2017 –– LOOPShare Ltd. (TSX-V: LOOP) (“LOOPShare”), a global provider of electric scooter shared fleet services and technology, and Loop SAL, its Zone Operator in Lebanon, today announced the official Launch of the first commercial electric scooter fleet sharing service in the Middle East and Africa region. The launch targets Beirut and is set for May 18, 2017.
The service will be offered under the Loop brand and will deploy LOOPShare technology.
“Loop SAL is the first Zone Operator worldwide to deploy a fleet of shared electric scooters under the Loop brand and using our technology”, said Anwar Sukkarie, President and Chief Executive Officer of LOOPShare. “The initial fleet consists of 15 scooters to be increased by an additional 55 scooters in July 2017. These are exciting times for LOOPShare and for Loop SAL”.
LOOPShare aims to deploy commercial field trials in other cities worldwide, followed by commercial rollouts planned for 2017.
“In the past few months, Loop SAL has actively engaged target markets that correspond to our Loop service subscriber profile,” said, Mira Raham, General Manager of Loop SAL “The response has been very encouraging with over 100 potential subscribers expressing interest in the Loop service and in applying for Loop once it becomes available. Loop SAL is now ready to commence with offering a commercially-viable Loop service with limited functionality and features aiming at generating revenue, real-time market tests and analysis, technology deployment fine-tuning, and establishing the first commercial Loop hub at BeryTech Digital District in Beirut. The launch amounts to a 3-month commercial field trial aiming at a full launch in July.”
The initial deployment will be for 15 Loop scooters available to select control groups as of May 18, 2017. Full commercial rollout is planned for later in July 2017 and will involve 70 scooters in total and the introduction of additional functionality and features based on the feedback received from Loop SAL operations team and control group subscribers.
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About LOOPShare Ltd.
LOOPShare Ltd. (TSX-V: LOOP) a Vancouver company established in 2009 and its wholly owned subsidiary Saturna Green Systems Inc. have commercialized a first generation, a wireless ruggedized 7” touchscreen 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 (“TaaS”). 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. “Loop” is a trademark of LOOPShare Ltd. For further information, please visit www.loopscooters.com.
About Loop SAL
Loop SAL is the Zone Operator for LOOPShare in Lebanon. The company was formed earlier in 2016 and expects to build the business in Lebanon and regionally through its team of skilled professionals in Telematics, fleet management, logistics, and market development.
Forward Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business plans and the outlook of the shared transportation industry. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).
Trademarks are the property of their owners.
| For further information on LOOPShare, please contact: Anwar Sukkarie, CEO +1 (604) 568-1598 |
Investor Relations Contact: Walter Spagnuolo +1 (604) 343-8661 +1 (604) 306-8477 |
Partner Contact:
Mira Raham, Loop SAL General Manager
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.