Vancouver –– May 18, 2017 –– LOOPShare Ltd. (TSX-V: LOOP) (“LOOPShare”), a global provider of electric scooter shared fleet services and technology, today announced that progress in offering Loop electric scooter sharing service has been secured in four potential Loop Zone Operations across the globe.
“LOOPShare has 61 scooters either shipped, packaged to be shipped, or being built to be shipped this quarter to several destinations worldwide”, said Anwar Sukkarie, President and Chief Executive Officer of LOOPShare. “LOOPShare aims at reaching a stage where commercial deployment of the Loop service in any city worldwide is a plug-and-play offering. The technology that we are currently testing and about to test in more than four locations worldwide will allow LOOPShare to reach that stage. LOOPShare has finally entered the commercial field trial stage through Loop SAL thanks to the highly professional plan execution of the team in Beirut, and thanks to the continued support and funding by Berytech Fund II.”
Loop scooters can now be found in Beirut, Lebanon, in a city in California, and will be available for field-testing in a major east coast US city, Mexico City, Vancouver, and Okinawa, Japan. Field-testing has already started in two of the target cities and will commence in other locations in Q2 and Q3 of this year.
Field trials typically conclude in a 3-month term followed by a commercial rollout of the Loop service with a consequential deployment of potentially at least 300 scooters worldwide in 2017.
Anwar Sukkarie
President & CEO, Founder
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 |
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.