Facedrive Acquires Steer and Accepts Strategic Investment From Exelon Subsidiary Exelorate

TORONTO–(BUSINESS WIRE)–Facedrive Inc. (“Facedrive”) (TSXV: FD), a Canadian “people-and-planet first” tech ecosystem, is thrilled to announce that it has, through a wholly-owned subsidiary (“Facedrive Subsidiary”), completed an acquisition (the “Acquisition”) of the substantive assets of Steer (https://www.steerev.com), one of the fastest-growing specialized electric vehicle subscription businesses (according to proprietary research), from Exelorate Enterprises, LLC (“Exelorate”), a wholly-owned subsidiary of Exelon Corporation (“Exelon”), a Fortune 100 company and the largest producer of clean energy in the United States (Electric Energy Online). Concurrent with the closing of the Acquisition, Exelorate subscribed for common shares of Facedrive (“Facedrive Shares”) as a strategic investment (the “Strategic Investment”). The terms of the Acquisition and the Strategic Investment are described further below.