Facedrive Health Announces Release of V2 TraceSCAN Wearable Device

TORONTO–(BUSINESS WIRE)–Facedrive Inc. (“Facedrive”) (TSXV: FD), (OTC: FD) a Canadian “people-and-planet first” tech ecosystem, is pleased to announce TraceSCAN V2, the latest version of its contact-tracing solution developed by Facedrive Health. The technology team at Facedrive Health has confirmed that TraceSCAN V2 is set to be released after passing all requisite testing and deployment procedures, and Facedrive anticipates the new devices and firmware being ready for release in February 2021.

TraceSCAN V2 features an extensive set of enhanced functionalities aimed at providing key health and safety benefits while improving upon the usual shortcomings of typical Bluetooth devices (which are not GPS-based) such as accuracy, data management, privacy considerations and vital sign monitoring capability. For example, the new functionality will include proprietary “beacon” technology allowing enterprise users to (anonymously) track interzonal-movement within their premises by wearable devices associated with a positive COVID-19 test while also enabling a significantly tighter accuracy radius in device tracking. TraceSCAN V2 will also further integrate temperature checking and other key health and safety functionalities that work cross-platform with Facedrive’s rideshare and food delivery applications to fully leverage the benefits of its proprietary technology.

The announcement of the latest release of TraceSCAN comes on the heels of several other TraceSCAN related announcements such as its efforts along with strategic advisor Phil Fontaine (former Chief of the National Assembly of First Nations) to work with members of the First Nations Community to implement its TraceSCAN solution within particularly vulnerable communities. The Company is currently pursuing partnerships with entities such as government agencies, leading international labour unions and large multinational corporations, and plans to report as soon as such discussions materialise. As reported earlier, the Company recently expanded the scope of its technology pilot with Air Canada after initial positive results, with a 99% adoption rate amongst participating employees and over 30,000 interactions.

Developed jointly by Facedrive Health and a group of researchers from the University of Waterloo, TraceSCAN has received an endorsement from the Government of Ontario. Furthermore, Facedrive Health and McCarthy Tétrault’s MT Ventures issued a white paper on privacy and security features. TraceSCAN solutions are powered through Microsoft Azure which, as reported earlier, marks the first step in a collaboration among Microsoft Azure and Facedrive. Since then, after numerous successful implementations with enterprise customers and spiking demand for multifunctional connected health solutions, TraceSCAN has rapidly expanded its use case scenarios into multiple business sectors such as recreation, travel, food processing, construction and other industries. The application can be downloaded on (Apple) App Store, Google Play and Microsoft Store.

TraceSCAN is powered by cutting edge Bluetooth technology that enables the device to work as an independent product or in conjunction with mobile-only solutions such as the Government of Canada’s COVID Alert app. As such, TraceSCAN is especially suited for work environments where employees are unable to carry cell phones or leave their cell phones on during work. TraceSCAN also caters to at-risk consumer demographics such as the elderly and low-income individuals and families who may not possess smart phones or, even if they do, may not have access to data or be familiar with the use of smart phone apps.

“Our technology team has been working tirelessly to launch this new release on schedule, and we are very pleased with how the technology and user interface components of the product have come together,” said Suman Pushparajah, COO of Facedrive. “We set out to develop a cutting-edge comprehensive contact tracing solution that works seamlessly online and offline. The demand from the marketplace has been tremendously positive. We are pleased to be able to do our part to help Canadian consumers and companies manage during these unprecedented times of the pandemic.”

About Facedrive

Facedrive is a multi-faceted “people-and-planet first” tech ecosystem offering socially-responsible services to local communities with a strong commitment to doing business fairly, equitably and sustainably. As part of this commitment, Facedrive’s vision is to fulfil its mandate through a number of verticals that either leverage existing technologies of the Company or project synergies with existing lines of business (the “Facedrive Verticals”). The Facedrive Verticals include its rideshare business (“Facedrive Rideshare”), sustainable e-commerce platform (“Facedrive Marketplace”), food-delivery service (“Facedrive Foods”), e-social platform (“Facedrive Social”) andits contact-tracing and sustainable health services business (“Facedrive Health”).

Facedrive Rideshare was among the first to offer a wide variety of environmentally and socially responsible solutions in the Transportation as a Service (TaaS) space, planting thousands of trees based on user consumption and offering choices between electric, hybrid and conventional vehicles (including, more recently, electric and hybrid vehicles on a subscription basis through Steer). Facedrive Marketplace offers curated merchandise created from sustainably sourced materials. Facedrive Foods offers contactless delivery of a wide variety of foods right to consumers’ doorsteps, with a focus on doing so in a socially and environmentally-conscious manner. Facedrive Social strives to keep people connected in a physically-distanced world through its HiQ and other e-socialization platforms that invite users to interact based on common interests and by offering gamification and mutual community support features. Facedrive Health strives to develop and offer innovative technological solutions to the most acute health challenges including its proprietary TraceSCAN wearable technology for contact tracing. Facedrive envisions changing the ridesharing, food delivery, e-commerce, social and health tech narratives for the better, for everyone, and is currently operational in Canada and the United States.

For more about Facedrive, visit www.facedrive.com.

Facedrive Inc.
100 Consilium Pl, Unit 400, Scarborough, ON, Canada M1H 3E3

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 (such as the success of the pilot or the adoption of TraceSCAN by other First Nations) 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 Facedrive’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.

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