Vancouver –– June 13, 2017 –– LOOPShare Ltd. (TSX-V: LOOP) (“LOOPShare” or the “Company”), a global provider of electric scooter shared fleet services and technology, announced that Loop Japan K.K. and Japan’s Ministry of Internal Affairs and Communications (“MIC”) signed an Internet of Things (“IoT”) Transportation agreement to provide 15 Loop electric vehicles which will be co-developed together with a Japanese electric vehicle manufacturer for Kamakura (http://www.city.kamakura.kanagawa.jp/). This will be a pilot project 100% funded by MIC and will conclude in February 2018 with payment to Loop Japan K.K. in March 2018.
“The second win in the Japanese market confirms that Japan represents a significant opportunity for LOOPShare and Loop Japan K.K.”, said Anwar Sukkarie, President and Chief Executive Officer of LOOPShare. “Our strategy based on establishing a foothold in Japan designed for growth in due course and based on technology development in Japan, for Japan, and for the global LOOPShare is proving to be effective. First Naha, now Kamakura, and next would be other cities in Japan.”
The initial development encompasses the customization of LOOPShare Platform to accommodate the electric vehicles of choice.
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).
-Ends-
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.
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:
Rob Macgregor, CEO
Loop Japan K.K.
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.