Vancouver, British Columbia–(Newsfile Corp. – September 17, 2020) – LOOPShare Ltd. (TSXV: LOOP) (OTCQB: LPPPF) (FSE: 3KZ) (“LOOPShare” or the “Firm”) is happy to announce that its Scoot-E-Bikes® are actually obtainable on the market on Amazon.com by its Amazon Launchpad program (www.amazon.com/launchpad). Amazon Launchpad helps entrepreneurs by offering sources, experience, and world assist to assist showcase and ship revolutionary merchandise to tens of millions of Amazon clients. Amazon Launchpad is a supplemental program designed to jumpstart and speed up start-ups and entrepreneurs.
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The Scoot-E-Bike® model was initially created by Ray J, a profitable tech-entrepreneur, TV character and musician. It was acquired by LOOPShare to supply an eco-friendly, environment friendly, and handy mode of transportation, which immediately aligns with LOOP’s core sustainable transportation enterprise mannequin. Excessive profile celebrities like Sean “Diddy” Combs, Justin Bieber, Chris Brown, Brandy Norwood, and Snoop Dogg have all been seen using and having fun with their Scoot-E-Bikes. Ray J is a key member of the Loop crew and he works intently with the Firm as a Model Ambassador for Scoot-E.
The COVID-19 pandemic has had a major influence on companies throughout the globe, and LOOPShare is not any exception. COVID-19 has led to adjustments in shopper habits, together with a lowered reliance on public transit and shared modes to transportation. Within the electrical scooter sharing section, main trade gamers similar to Hen and Lime have undertaken vital layoffs and lowered availability of shared electrical scooters on account of decreased demand. The sensible realities of sanitizing electrical scooters after every use has introduced vital operational problems. Many electrical scooter ridesharing corporations are revaluating their enterprise mannequin and altering how they’re deploying and advertising companies.
Alternatively, there was a major improve in demand for private use e-bikes much like the Scoot-E Bike. Private use e-bikes are snug, handy, and permit customers to socially distance whereas being lively. When paired with an electrical motor, e-bikes could make even lengthy commutes a calming and sweat-free expertise. E-bikes additionally contribute to world emission reductions as a inexperienced different.
LOOPShare has been evaluating its enterprise mannequin all through the COVID-19 pandemic. It made efforts to redeploy its bigger electrical scooters to be used in supply or single level rental operations. After evaluating its present operations and altering developments on account of COVID-19, LOOPShare has decided that one of the best enterprise mannequin to observe within the close to time period is to extend concentrate on the sale of the Scoot-E-Bike. As a private use (non-shared) e-bike that’s in demand, this offers one of the best near-term alternatives for income and profitability.
In furtherance of this focus, LOOPShare can be trying to scale back its current fleet of bigger electrical scooters by sale or different disposition. LOOPShare intends to retain a small fleet (15 to 30 electrical scooters) that it may well use to check totally different fashions together with supply, rental and doubtlessly rideshare as soon as the COVID-19 pandemic subsides.
To study extra, go to www.loopscooters.com.
Cautionary Word Concerning Ahead-Wanting Info
This information launch accommodates “forward-looking data” regarding anticipated developments and occasions associated to LOOPShare Ltd. (or the “Firm”) which will happen sooner or later. Ahead wanting data contained on this information launch contains, however shouldn’t be restricted to, statements with respect to the Firm’s future gross sales, revenues and income, intentions with respect to the sale of the Scoot-E-Bike and its intention to promote or switch its bigger electrical scooters.
In sure circumstances, forward-looking data will be recognized by way of phrases similar to “expects”, “intends”, “anticipates” or variations of such phrases and phrases or state that sure actions, occasions or outcomes “could”, “would”, or “would possibly” suggesting future outcomes, or different expectations, assumptions, intentions or statements about future occasions or efficiency. Ahead-looking data contained on this information launch relies on sure elements and assumptions concerning, amongst different issues, the accuracy, reliability and applicability of the Firm’s enterprise mannequin; the well timed receipt of licenses; the well timed receipt of stock; operational success; the implementation of the Firm’s marketing strategy as supposed; the Firm’s potential to entry financing; and the influence of competitors. Whereas the Firm considers these assumptions to be affordable, they might be incorrect.
Ahead wanting data entails recognized and unknown dangers, uncertainties and different elements which can trigger the precise outcomes to be materially totally different from any future outcomes expressed by the forward-looking data. Such elements embrace dangers associated to acts of God, the influence of common financial circumstances, altering transportation trade circumstances, will increase in working prices, terrorism, foreign money fluctuations, dangers associated to the impact of the COVID-19 pandemic on the worldwide financial system and demand for the Firm’s services, rates of interest, dangers particular to the transportation trade, the power to draw certified personnel, labour disputes, regulatory dangers, together with dangers referring to the acquisition of the mandatory licenses, financing, capitalization and liquidity dangers, together with the danger that the financing will not be obtained and the extra dangers recognized within the “Danger Components” part of the Firm’s filings with relevant Canadian securities regulators.
Though the Firm has tried to establish elements that might trigger precise outcomes to vary materially from these described in forward-looking data, there could also be different elements that trigger outcomes to not be as anticipated. Accordingly, readers mustn’t place undue reliance on forward-looking data. The forward-looking data is made as of the date of this information launch. Besides as required by relevant securities legal guidelines, the Firm doesn’t undertake any obligation to publicly replace forward-looking data.
Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) has reviewed or accepts duty for the adequacy or accuracy of this launch.
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