Business
High Mountain Capital Corporation Announces Entering into of an Amalgamation Agreement with Facedrive Inc.
Calgary, Alberta--(Newsfile Corp. - May 17, 2019) - High Mountain Capital Corporation (TSXV: B...
About this update from Argo Corporation
[{"type":"text","content":"High Mountain Capital Corporation Announces Entering into of an Amalgamation Agreement with Facedrive Inc.Calgary, Alberta--(Newsfile Corp. - May 17, 2019) - High Mountain Capital Corporation (TSXV: BUZD.P)  (\"High Mountain\") is pleased to announce that it, together with its wholly-owned subsidiary, 2696170 Ontario Inc. (\"Subco\"), has entered into an amalgamation agreement dated May 15, 2019 (the \"Amalgamation Agreement\") with Facedrive Inc. (\"Facedrive\") pursuant to which Subco will amalgamate with Facedrive (the \"Amalgamation\") to complete an arm's length qualifying transaction (the \"Transaction\") in accordance with the policies of the TSX Venture Exchange (the \"TSXV\"). The Amalgamation is structured as a three-cornered amalgamation and, as a result, the amalgamated corporation will become a wholly-owned subsidiary of High Mountain at the time of the completion of the Amalgamation. Following the completion of the Amalgamation, High Mountain will change its name to \"Facedrive Inc.\" (the \"Resulting Issuer\"). The Amalgamation Agreement will be made available on SEDAR at www.sedar.com. Facedrive and High Mountain anticipate closing the Transaction in mid to late July 2019.About FacedriveFacedrive is a Toronto-based ridesharing company that operates in the technology sector. Incorporated in Ontario in 2016, Facedrive was created to offer a transportation network that was first and foremost socially responsible and CO2 emissions neutral. Facedrive is a unique people and planet first ride-sharing platform committed to doing business fairly and equitably with both our riders and drivers. As a community platform, drivers are real partners in Facedrive, benefitting from uniquely customized incentives and rewards that reflect Facedrive's dedication to shared success and amongst the highest in the ridesharing industry. Facedrive's commitment to the planet is demonstrated by green-incentives for both drivers and customers because Facedrive believes that we all benefit when empowered individuals make positive choices. Facedrive customers can request rides in electric, hybrid and gas-powered vehicles through the Facedrive App. Trips on the system offset the CO2 emitted by contributing a portion of the fare to carbon offset, tree planting and other measured, sustainable programs. Facedrive is a first of its kind ri...