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Richmond Hill Headquartered Facedrive Acquires EcoCRED, a Wholly-owned Subsidiary of Exelon

Facedrive Inc., a Canadian “people-and-planet first” tech ecosystem completed the acquisition of 100% of the ownership of EcoCRED, a wholly-owned subsidiary of Exelon, a Fortune 100 company and the largest producer of clean energy in the United States.

Facedrive Inc., a Canadian “people-and-planet first” tech ecosystem, is thrilled to announce that it has completed the acquisition of 100% of the ownership interest of EcoCRED, LLC, from Exelorate Enterprises, LLC, a wholly-owned subsidiary of Exelon Corporation (“Exelon”), a Fortune 100 company and the largest producer of clean energy in the United States. EcoCRED is a sustainability platform that offers science-backed carbon offsets to empower communities, businesses, and individuals to get closer to a carbon-neutral lifestyle.

Pursuant to the Acquisition, Facedrive acquired 100% of the ownership interest of EcoCRED in exchange for aggregate consideration of USD $1,000,000, which was paid through the issuance of 38,936 Facedrive Shares, issued at a volume weighted average trading price of USD $32.36 per Acquisition Share. All Acquisition Shares are subject to an 18-month lock-up period.

Full Article: businesswire.com