Vancouver – October 26th, 2016 – LOOPShare Ltd. (TSX-V: LUP) (“LOOPShare”), a global provider of electric scooter shared fleet services and technology, and Loop s.a.l., its Zone Operator in Lebanon, today announced that they have commenced trial operations of a fleet of Loop electric scooters, comprising the first fleet of shared electric scooters utilizing LOOPShare technology worldwide.
The trial is based on a total fleet of 55 scooters deployed to determine operational parameters for a full scale rollout of the Loop service in the city of Beirut, Lebanon.
“The Loop scooter has been custom designed for electric scooter fleet sharing deployment”, said Anwar Sukkarie, President and Chief Executive Officer of LOOPShare. “Being our first deployment on a field-trial basis worldwide, LOOPShare will invest the necessary resources and skillset needed to ensure a successful trial and provide for a full rollout to over 165 scooters in due course”.
LOOPShare aims to deploy field trials in other cities worldwide, followed by commercial rollouts planned for 2017.
“Loop s.a.l. has the resources to proceed with the field trial to its full extent,” said, Mira Raham, General Manager of Loop s.a.l. “These are exciting times for us where the interest by potential subscribers was truly astounding despite the fact that we have only run a few scooters in the streets of Beirut for technical testing purposes. The market seems to be positioning the Loop service in a positive manner. I expect, and my team will work, towards meeting our objectives successfully within the field trial term.”
About LOOPShare Ltd.
LOOPShare Ltd. (TSX-V: LUP) a Vancouver company established in 2009 (formerly Known as Kenna Resources Corp.) 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 s.a.l.
Loop s.a.l. 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:
+1 (604) 343-8661
+1 (604) 306-8477
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.
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