Facedrive Invests in Westbrook to Bring New, Preferred Content to Its Rider Experience.
Press Release
TORONTO — Facedrive Inc. (“Facedrive” or the “Corporation”) (TSX-V: FD) the first Canadian peer-to-peer, eco-friendly ridesharing network, today announces its investment into Westbrook Global Inc. (“Westbrook”), the content creation company founded by Will Smith, Jada Pinkett Smith, Miguel Melendez, and Kosaku Yada.
Facedrive’s strategic investment into Westbrook will bring new and exciting content to the Facedrive rider experience and provide preferred content available only to riders in its forthcoming Facedrive Marketplace. Westbrook will also lend marketing and preferential support to Facedrive in the form of access to content production services, consumer products, and collaboration with new ventures. As part of the investment and partnership, both organizations will extend their geographical reach by sharing offices around the world, accelerating Facedrive’s global expansion.
Chairman of Facedrive, Sayan Navaratnam, adds, “Our riders want a great experience when they choose Facedrive, and we believe that our relationship with Westbrook, an innovative leader in content creation, will set us apart from our competitors.”
Westbrook creates and curates powerful and inclusive content across all major platforms – from short and mid-form digital content, to more traditional television series and motion pictures. In addition, the company develops projects as starring vehicles for Will Smith, and leverages existing and new intellectual property to create memorable consumer product experiences.
READ WESTBROOK’S RECENT ANNOUNCEMENT HERE.
Miguel Melendez adds, “Our vision is to be the leader in global family entertainment. Our partnership with Facedrive allows us to spread positive ideas, art, and products into international markets and innovative settings.“
Facedrive’s investment in Westbrook consisted of the purchase of a $1 Million USD convertible note with an option to purchase up to an additional $4 Million USD principal amount of convertible notes.
Additional information in respect to the Transaction between Facedrive and Westbrook can be found in the nine months period ended quarterly financial statements.
About Westbrook: Launched in 2019 by founders Jada Pinkett Smith, Will Smith, Miguel Melendez and Kosaku Yada, Westbrook Inc. is a holding company formed to execute the Smith Family’s global content and commerce businesses. More about Westbrook: www.westbrookinc.com.
About Facedrive: Facedrive is a unique people and planet first ride-sharing platform committed to doing business fairly and equitably. As a community platform, drivers are real partners in the company, benefitting from uniquely customized incentives and rewards that reflect a dedication to shared success.
For more about Facedrive, visit www.facedrive.com.
Facedrive Inc.
100 Consilium Pl, Unit 400, Scarborough, ON, Canada M1H 3E3
www.facedrive.com
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements as defined under applicable securities laws. All statements in this news release, other than statements of historical facts, that address events or developments that management of the Corporation expect, are forward-looking statements. Specifically, the references in this news release to the anticipated benefits of the Facedrive and Westbrook collaboration, including the speedy expansion of Facedrive’s geographic reach and that Westbrook will bring new, exciting and exclusive content to the Facedrive rider experience, constitute forward-looking statements. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Corporation’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Please see Facedrive’s filing statement for a detailed discussion of the risk factors faced by it. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
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 news release.