Business Wire
Earlier today, on April 14, 2021, Facedrive Inc. ("Facedrive" or the "Company") (TSXV:FD) (OTC:FDVRF), a Canadian "people-and-planet first" tech ecosystem, announced it had completed the acquisition of 100% of the equity ownership of EcoCRED, LLC ("EcoCRED"), from Exelorate Enterprises, LLC, a wholly-owned subsidiary of Exelon Corporation (NASDAQ:EXC). The announcement noted that Facedrive acquired EcoCRED in exchange for aggregate consideration of USD $1,000,000, which was paid through the issuance of 38,936 Facedrive Shares ("Acquisition Shares"), issued at a deemed price of USD $32.36 per Acquisition Share (which was determined and agreed upon based on a volume weighted average trading price figure). However, the currency expressed for the price per Acquisition Share figure should have been Canadian, making the actual deemed price per Acquisition Share CAD $32.36 (or USD $25.68 per share, being USD $1,000,000 divided by 38,936 shares). All Acquisition Shares are subject to an 18-month lock-up period.
