Business
Creative Learning Corporation, to be Renamed DriveItAway Holdings, Inc., Completes Final Closing of Transaction
Creative Learning Corporation, to be Renamed DriveItAway Holdings, Inc., Completes Final Closing of Transaction.
About this update from Driveitaway Holdings Inc.
[{"type":"text","content":"\n HADDONFIELD, N.J., March 24, 2022 (GLOBE NEWSWIRE) -- Creative Learning Corporation (to be renamed DriveItAway Holdings, Inc.) (OTCQB: CLCN) and DriveItAway, Inc., a Delaware corporation (“DIA”), an industry leader in new mobility platforms, announced today that they have now fully completed the Exchange Transaction. The management team and Board of Directors of the Company are now exclusively made up of the DIA team, and the former learning business of the Company has been spun off to the former management of Creative Learning Corporation. The name of the Company will soon be changed to DriveItAway Holdings, Inc., to reflect its sole business focus and new management. Added to the new Board of Directors of the Company, is Paul Patrizio. Mr. Patrizio has been a corporate attorney, an investment banker, a venture capitalist, and a corporate executive, for both public and private companies over his more than 35-year career. Since 2015, he has been the Managing Partner of Apogee Partners LLC, a private investment company with equity interests in a diverse set of emerging growth companies. He is also a Partner at Patrizio & O’Leary LLP, a law firm in Princeton, NJ that specializes in representing both public and private growth companies as well as their investors in corporate transactions and general business matters.   “This is a very exciting time for us with the new management team in place as we welcome Paul to our Board. We can now focus solely on the tremendous opportunity for our growing business in fulfilling the unmet transportation needs of credit challenged and entry level employees throughout the United States, and allow all access to the EV future ahead,” says John F. Possumato, CEO of Creative Learning, soon to be named DriveItAway Holdings, Inc. “Just returning from the annual J.D. Power Summit and the National Automobile Dealer Association Convention less than two weeks ago, it is no exaggeration to say the focus was practically all on the oncoming EV ‘revolution’ coming quickly in the selection of vehicles on the market soon,” adds Possumato, “but EVs cost 20-40% more than gas vehicles and there is real hesitation from potential buyers over whether or not an EV is practical for lifestyle needs. Our DriveItAway subscription to ownership mode...