Vancouver, British Columbia--(Newsfile Corp. - February 4, 2020) - LOOPShare Ltd. (TSXV: LOOP) (OTCQB: LPPPF) (FSE: 3KZ) ("LOOPShare" or the "Company") is pleased to announce the launch of its e-commerce website for retail sales of the Scoot-E-Bike®, the original folding electric scooter. The website www.Scootebike.ca allows consumers located in Canada and the United States to purchase the Scoot-E-Bike® direct from the Company. The Company has seen strong initial demand and expects that its initial shipment of Scoot-E-Bikes will sell out quickly. It plans to significantly increase its inventory in order to promote significant sales growth of the Scoot-E-Bike®.
The Scoot-E-Bike® brand was originally created by Ray J, a successful tech-entrepreneur, TV personality and musician. It was acquired by LOOPShare to provide an eco-friendly, efficient and convenient mode of transportation, which directly aligns with LOOP's core sustainable transportation business model. High profile celebrities like Sean "Diddy" Combs, Justin Bieber, Chris Brown, Brandy Norwood, and Snoop Dogg have all been seen riding and enjoying their Scoot-E-Bikes. Ray J is a key member of the Loop team and he works closely with the Company as a Brand Ambassador for Scoot-E. Please visit the official Instagram page @scootebike_official.
Matthew Clayton, Chief Executive Officer of LOOPShare, commented: "Launching direct to consumer sales of the Scoot-E-Bike is a significant milestone for the Company and our revenue projections. People simply love this product, and there have been significant inquiries about its availability for sale. Now that it is ready, I am expecting this business unit of the Company to rapidly expand. We have added a few amazing features including; a more powerful motor, enhanced Bluetooth speaker, anti-theft alarm, and attached a full pedal system. This pedal modification qualifies Scoot-E as a true power assisted E-Bicycle for bike lanes here in North America."
LOOPShare Ltd. is an emerging global leader in ridesharing, micro-mobility and sustainable transportation. To learn more, visit:
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events related to LOOPShare Ltd. (or the "Company") that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to the sale of Scoot-E-Bikes and the Company's growth plans.
In certain cases, forward-looking information can be identified by the use of words such as "expects", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "would", or "might" suggesting future outcomes, or other expectations, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the accuracy, reliability and applicability of the Company's business model; the timely receipt of governmental approvals and licenses; the timely receipt of e-scooters by the Company; the success of operations; the ability of the Company to implement its business plan as intended; the Company's ability to access financing; and the impact of competition. While the Company considers these assumptions to be reasonable, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed by the forward-looking information. Such factors include risks related to acts of God, the impact of general economic conditions, changing transportation industry conditions, increases in operating costs, terrorism, currency fluctuations, interest rates, risks specific to the transportation industry, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses, financing, capitalization and liquidity risks, including the risk that the financing may not be obtained and the additional risks identified in the "Risk Factors" section of the Company's filings with applicable Canadian securities regulators.
Although the Company has attempted to identify factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Scoot-E-Bike® is a registered trademark of LOOPShare Ltd.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52078