Mobi724 Global Solutions Announces Private Placement Financing
January 04 2019 - 3:45PM
MOBI724 Global Solutions Inc. (“MOBI724” or the
“Company”) (TSX-V:MOS) (OTCQB:MOBIF), a global Fintech company
offering a fully integrated suite of multiple Card-Linked Offers
and Rewards (“CLO&R”), Digital Marketing and Business
Intelligence (“DMBI”) and Payment Solutions (“Payment”) is pleased
to announce a non-brokered private placement (the "Private
Placement") offering of up to 19,230,769 common shares ("Shares")
at a price of $0.065 per Share for gross proceeds of up to
$1,250,000 and offering of non-secured convertible debentures of up
to $1,250,000 (“Debentures”) convertible into Shares at a
conversion price of $0.15 per Share. The Debentures will mature 24
months following their issuance and will bear interest at a rate of
12% per annum. The Private Placement is comprised of 50% Shares and
50% Debentures.
The Company intends to use the net proceeds of
the Private Placement to finance ongoing obligations of the Company
and general working capital.
Completion of the Private Placement remains
subject to the final approval of the TSX Venture Exchange. All
securities issued pursuant to the Private Placement will be subject
to a statutory four month hold period.
The Company may pay finder's fees in connection
with the Private Placement.
Conversion of Debt:
As previously announced on December 5th 2018,
the Company has issued an aggregate of 714,286 common shares at a
price of $0.07 to a former employee and a former consultant of I.Q.
7/24 Inc. representing the first tranche of the settlement. The
payment of the second tranche of the settlement in the aggregate
amount $50,000 and conversion into common shares at a price of
$0.07 is subject to the approval of the shareholder’s which
approval will be sought at the next annual general meeting and is
also the conditional approval of the Exchange.
About Mobi724 Global Solutions
Inc.
“We enable smart transactions anywhere.”
MOBI724, a global Fintech company, offers a
fully integrated suite of multiple Card-Linked Offers and Rewards,
Digital Marketing and Business Intelligence and Payment Solutions
(including a mobile EMV compliant payment platform), which work
with any payment card, on any mobile device and at any Point of
Sale. MOBI724 provides turnkey solutions for card associations,
card issuers, banks, retailers, manufacturers, offer providers, to
create, manage, deliver and track and measure incentive campaigns
worldwide in real time. The company captures value from big data to
deliver seamless and personalized user experiences for the benefits
of all parties in the ecosystem. MOBI724 headquarters are in
Montreal, Canada, and the company presently has operations in North
and Latin America, the Caribbean and Asia Pacific.
Legal Disclaimer
Certain statements in this document, including
those which express management 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.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release does not constitute a
solicitation to buy or sell any securities in the United
States.
For further information, please visit www.MOBI724.com or
contact:
Investor Relations:
Mr. George AizpuruaVice-President, CommunicationsFirst Canadian
Capital Corp.T: 647-500-2389/416-742-5600; E:
gaizpurua@firstcanadiancapital.com
Ms. Rachel Girard, CPA, CAChief Financial OfficerMOBI724 Global
Solutions Inc.T: 514-394-5200; E: IR@mobi724.com
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