Facedrive Inc. (OTCQX: FDVRF) closed the last trading up 22% to $14.64. A total of 133,761 shares of Facedrive stock changed hands during the session, ranging from $11.52 to $15.00. After news of a 100% equity investment in a sustainability platform that helps users reduce carbon footprints, FDVRF stock surged.
Details of equity acquisition:
Facedrive is strongly committed to social responsibility, fairness, equity, and sustainability. FDVRF is a multi-faceted tech ‘people-and-planet first’ ecosystem dealing with issues of environmental conservation and promotes social responsibility in local communities.
It was announced that Facedrive had acquired 100% of EcoCRED’s equity interests from Exelorate Enterprises, LLC, which is a wholly-owned subsidiary of Exelon Corporation.
- FDVRF has acquired EcoCRED for an aggregate consideration of USD $1,000,000, according to that announcement.
- It was acquired by issuing 38,936 FDVRF Shares at a deemed price of CAD$32.36 per Acquisition Share.
- A volume weighted average trade price figure was utilized when determining the price of Acquisition Share.
- The lock-up period for all Acquisition Shares is 18 months.
How is FDVRF moving forward?
As part of its commitment, FDVRF’s vision is to fulfill its mandate by leveraging its existing resources and technology to develop verticals that leverage existing infrastructure into new projects (the “Facedrive Verticals”).
FDVRF verticals include Facedrive Rideshare (ridesharing company), Facedrive Marketplace (sustainable e-commerce platform), Facedrive Foods (food-delivery service), Facedrive Social and Facedrive Health (contact-tracing and health services business).