MOBI724 Announces Decision By Lender to Convert $320,000 of Convertible Debt Into Shares and a Director to Exercise 1M Warran...
March 29 2018 - 8:30AM
MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”)
(TSX-V:MOS) (OTCQB:MOBIF), a Fintech leader offering all in one
fully integrated EMV payment, Card-Linked Offers, Digital Marketing
and Business Intelligence Solutions, announced today that the
holder of $320,000 of convertible debt (the “Debenture”) issued on
October 6, 2016, at an interest at 8% per annum, has elected to
convert this final tranche of the Debenture, as well as $25,600 of
interest accrued. The Debenture including the interest will be
converted into a total of 2,304,000 shares of MOBI724 at an
exercise price of $0.15 per share which was contractually agreed
upon on October 6, 2016.
MOBI724 also reports that pursuant to the
Company’s announced Early Exercise Warrant Incentive Program (Press
Released on March 19, 2018) a Director of MOBI724 will exercise
1,000,000 warrants for proceeds of $150,000 to the Company.
Marcel Vienneau, CEO of MOBI724, said, “These
investment actions, taken by a key debt holder to become a
shareholder and by an insider to increase his stake in the Company,
demonstrate continued confidence in MOBI724’s progress and future
growth. Our plans remain on track and we anticipate that the pace
of news will accelerate.”
About Mobi724 Global Solutions
Inc.“We enable smart transactions anywhere”
MOBI724, a leader in the Fintech industry based
in Montreal (Canada), offers a unique and fully integrated suite of
payment, digital marketing and business intelligence solutions with
a combined EMV Payment, Card Linked Offers, Digital Marketing &
Business Intelligence platform that works on any card and any
mobile device. MOBI724's solutions add value to all types of
transactions benefiting banks, retailers and cardholders by
leveraging available user and purchasing data to increase
transaction volumes and spend. MOBI724 provides a turnkey solution
to its clients to capture card transactions on any mobile device,
at any point of sale or from any payment card. MOBI724 provides its
customers with full and comprehensive traceability and enriched
consumer data through its offering. Its solutions enable card
associations, retailers, manufacturers, offer providers, mobile
operators and card issuers to create, manage, deliver and "track
and measure" incentive campaigns worldwide to any mobile device and
allow its redemption at any point of sales
Legal Disclaimer
Certain statements in this document, including
those which express management’s expectations or estimations with
regard to the Company’s future performance, constitute
“forward-looking statements” as understood by applicable securities
laws. Forward-looking statements are, of necessity, based on a
certain number of estimates and hypotheses; while management
considers these to be accurate at the time they are expressed, they
are inherently subject to significant uncertainties and risks on
the commercial, economic and competitive levels. We advise readers
that these forward-looking statements are subject to risks,
uncertainties, and other known and unknown factors that may cause
the actual results, performance or achievements of the Company to
be materially different from any future results, performance or
achievements expressed or implied in these forward-looking
statements. Investors are advised to not rely unduly on the
forward-looking statements. This advisory applies to all
forward-looking statements, whether expressed orally or in writing,
attributed to the Company or to any individual expressing them in
the name of the Company. Unless required by law, the Company is
under no obligation to publicly update these forward-looking
statements, whether to reflect new information, future events, or
other circumstances.
The TSX Venture Exchange (TSXV) has not reviewed
this news release and does not accept responsibility for its
adequacy or accuracy. This news release does not constitute a
solicitation to buy or sell any securities in the United
States.
For further information, please visit MOBI724.com or
contact:Investor Relations:Mr. Andreas
CurkovicProconsul Capital Ltd.T: 416-577-9927; E:
andreascurkovic@sympatico.ca
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