Facedrive Finalizing Disclosure Related to Completed Transaction

August 10, 2020

TORONTO–(BUSINESS WIRE)–#FacedriveHiride—Facedrive Inc. (“Facedrive” or the “Company”) (TSXV: FD), the Company would like to promptly respond to numerous inquiries as to its trading halt as of this morning. The Company is currently in the process of finalizing disclosure related to a transaction (the “Transaction”) that constitutes, in the understanding of management, material information. Facedrive had first announced that it was in advanced discussions with a global entertainment and predictions platform in its press release dated August 5, 2020 (https://www.businesswire.com/news/home/20200805005366/en/HiQ-Social-App-HiRide-Achieves-Million-Downloads) A formal press release detailing the transaction is anticipated to follow.

About Facedrive

Facedrive is a multi-faceted “people-and-planet first” platform offering socially-responsible services to local communities with a strong commitment to doing business fairly, equitably, and sustainably. Facedrive Rideshare was the first to offer green transportation solutions in the TaaS space, planting thousands of trees and giving users a choice between EVs, hybrids, and conventional vehicles. Facedrive Marketplace offers curated merchandise created from sustainably sourced materials. Facedrive Foods offers contactless deliveries of a wide variety of foods with the focus on healthy foods right to consumers’ doorsteps. Facedrive Health develops innovative technological solutions to the most acute health challenges of the day. Facedrive is changing the ridesharing, food delivery, e-commerce, and health tech narratives for the better, for everyone.

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 Information

Certain information in this press release contains forward-looking information. This information is based on management’s reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release. Actual results and the timing of events may differ materially from those anticipated in the forward-looking information as a result of various factors. Information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. Statements containing forward-looking information are not facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements.

See “Forward-Looking Information” and “Risk Factors” in the Corporation’s Filing Statement dated August 28, 2019 for a discussion of the uncertainties, risks and assumptions associated with these statements. Readers are urged to consider the uncertainties, risks and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law.

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 release.