STEER Obtains Licence to Operate a Liquor Delivery Service in Ontario
09 Maio 2023 - 8:03AM
Business Wire
STEER Technologies Inc. (“STEER” or the “Company”) (TSXV:
STER), (OTCQX: STEEF), an integrated ESG technology platform, is
pleased to announce that its subsidiary Food HWY Canada Inc. has
been issued a licence to operate liquor delivery services by the
Alcohol and Gaming Commission of Ontario (“AGCO”). STEER’s
customers are now able to place liquor orders with their favorite
restaurants and vendors via the STEER mobile app.
One of the AGCO's primary goals is to promote responsible
alcohol consumption while ensuring that businesses operate in
compliance with relevant laws and regulations. A Liquor Delivery
Service Licence allows the licensee to deliver liquor purchased or
obtained from the Liquor Control Board of Ontario (“LCBO”)
or Brewers Retail Inc. (“The Beer Store”), any
manufacturer’s on-site or off-site retail store or an eligible
liquor licensed establishment to individuals for a fee.
STEER anticipates that the ability to deliver alcoholic
beverages as a standalone service as well as along with food
delivery orders will complement its On-demand STEER Foods and
Delivery as a Service (“DaaS”) offerings, drive order count
and have a positive impact on the Company’s revenues in the
quarters to come. According to IWSR Drinks Market Analysis, alcohol
ordering got digital as purchasing largely moved online over the
pandemic, with a quarter of global drinkers now ordering online.
Alcohol e-commerce sales are expected to reach more than USD $42
billion across key markets by 2025; a growth of +66%1.
“We are very excited to start delivering liquor orders as part
of our Foods and Delivery services in order to provide an
end-to-end experience to the users of the STEER app. We have seen a
significant uptake in orders since the initial rollout of alcohol
beverage deliveries at STEER, and expect further growth in the
months to come,” said Suman Pushparajah, CEO of STEER Technologies
Inc. “Over the past few years, we have seen a significant part of
alcohol purchasing move online, and we believe this trend is here
to stay. We are determined to incorporate liquor deliveries onto
our platform, and do so responsibly in accordance with our ESG
mandates and province-wide regulations”.
Currently, the Company is onboarding Smart Serve certified
driver partners and finalizing partnership discussions with liquor
vendors to offer a wide selection of beverages to its
customers.
About the Company
STEER is an integrated ESG technology platform that moves people
and delivers things through subscription and on-demand services.
The Company’s goal is to build a one-of-a-kind ecosystem that
aggregates conscientious users, through a series of connected
offerings, and enables them to buy, sell, or invest with the same
platform, STEER. The Company’s offerings generally fall into two
categories: subscription-based offerings led by its flagship
electric vehicle subscription business, STEER EV, and on-demand
services incorporating delivery, B2B marketplace,
Delivery-as-a-Service (DaaS) and rideshare businesses. The
Company’s platform is also powered by EcoCRED, its big data,
analytics and machine learning engine which seeks to capture,
analyze, parse and report on key data points in ways that measure
the Company’s impact on carbon reductions and offsets.
For more about the Company, visit www.steeresg.com.
Suman Pushparajah, CEO suman@steeresg.com STEER 100 Consilium
Pl, Unit 400 Scarborough, ON Canada M1H 3E3 www.steeresg.com
Forward-Looking Information
Certain information in this press release contains
forward-looking information, including with respect to the
Company’s business, operations and condition, management’s
objectives, strategies, beliefs and intentions, and the company’s
forward plans to rebrand. 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 and the timing of events, such as those
pertaining to success of the Company’s ability to continue
increasing its market share with the new liquor license, 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 the
Company’s Annual Management Discussion & Analysis (MD&A)
for the year ended December 31, 2022 (filed on SEDAR on May 1,
2023) and its interim MD&A for the period ended March 31, 2022,
June 30, 2022, September 30,2022 (filed on SEDAR on May 30, 2022,
August 29, 2022 and November 29, 2022 respectively) for a
discussion of the uncertainties, risks and assumptions associated
with these statements and other risks. 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
legislation and regulatory requirements.
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.
1
https://www.forbes.com/sites/katedingwall/2021/12/22/alcohol-e-commerce-expected-to-reach-42-billion-by-2025/?sh=25137f6b1a3d
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version on businesswire.com: https://www.businesswire.com/news/home/20230509005564/en/
For further information: Company: Suman Pushparajah,
suman@steeresg.com Media: Maria Verbytska, maria@steeresg.com, Tel:
1-888-300-2228
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