Vancouver, British Columbia--(Newsfile Corp. - October 16, 2019) - LOOPShare Ltd. (the "Company") (TSXV: LOOP) (OTCQB: LPPPF), world's first fully-integrated electric scooter sharing platform, is pleased to announce the appointment of Mr. Matthew Clayton as Chief Executive Officer, replacing Mr. Anwar Sukkarie.
Mr. Clayton is the Company's existing Executive Chair and going forward will act as Executive Chair and Chief Executive Officer. Mr. Clayton has engendered a cross-industry experience that encompasses: marketing; public relations; finance; philanthropy; and business-to-business negotiations involving corporate, government, and labour. Mr. Clayton has an extensive transportation background. He is a member of AV8 Partners LP, located in Kailua, Hawaii. AV8 is pursing the construction of a general aviation facility on sixteen acres of secured leasehold at Ellison Onizuka International Airport. This project will include six acres of new jet parking, a private hangar, terminal and fuel infrastructure services. He also currently advises Bridgemans Services Ltd, a Canadian company, providing marine transportation services and floating accommodations to industrial projects globally.
As previously announced, Mr. Anwar Sukkarie has stepped down as President & CEO of the Company in order to lead Loop s.a.l. The Company will transfer the Company's interest in Loop s.a.l. to Mr. Sukkarie and he will take over Loop s.a.l. and its operations in the Middle East and Africa. Loop s.a.l. will continue as a Master Zone Operator of the Company. See the Company's press release dated July 16, 2019 for further details.
The Company also provides an update on its previously announced non-brokered private placement to raise up to a total of C$2.5 million. The Company still intends to proceed with the private placement; however, there will be an adjustment to the terms as a result of the recently completed share consolidation. The Company will provide additional details in a further press release that will include revised terms and expected closing date. The private placement remains subject to the approval of the TSX Venture Exchange.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the Unites States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
LOOPShare Ltd. is an emerging global leader in ridesharing, micro-mobility and sustainable transportation. To learn more, visit www.loopscooters.com.
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.
Loop is a trademark of LOOPShare Ltd.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48808