Vancouver –– September 14, 2017 –– LOOPShare Ltd. (TSX-V: LOOP) (“LOOPShare” or the “Company”), a global provider of electric scooter shared fleet services and technology, today announced receiving a purchase order and 50% down payment for a Transportation as a Service (“TaaS”) Field Trial for a fleet of 110 scooters over a 1-month period scheduled for Q1 2018. The PO balance is expected prior to shipping the Loop scooters to their destination in Southern California.
The organization that placed the purchase order has significant presence in California as a developer of large residential communities. The service will be offered under the Loop brand and will deploy LOOPShare technology.
“Offering green transportation through a shared fleet of electric scooters based on LOOPShare technology would empower a unique ecosystem in communities developed by our customer”, said Anwar Sukkarie, President and Chief Executive Officer of LOOPShare. “The field trial would allow a better understanding of the use case and market of a large community of households, and project a strong entry into the shared mobility market in California.”
Upon the success of the field trial, the 110-scooter fleet is expected to rollout in 2018 to meet the projected demand for green, affordable, and easy to use commuting in large communities. LOOPShare aims to deploy additional commercial field trials in California, followed by commercial rollouts planned for 2018 and 2019.
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).
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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.
Trademarks are the property of their owners.
| For further information on LOOPShare, please contact: Anwar Sukkarie, CEO +1 (604) 568-1598[email protected] |
Investor Relations Contact: Walter Spagnuolo +1 (604) 343-8661 +1 (604) 306-8477[email protected] |
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.