MONTREAL, Dec. 23,
2022 /CNW Telbec/ - Mobi724 Global Solutions
Inc. ("Mobi724" or the "Company") (TSXV: MOS), a fintech
enabler of AI-powered payment card-linked solutions, announces that
it has closed a non-brokered private placement financing (the
"Offering") previously announced on December
12, 2022 for proceeds of $520,000, $417,500
of which were closed into escrow.
The closing of the Offering consisted of the sale of 20,800,000
units (each, a "Unit") of the Company at a price of $0.025 per Unit. Each Unit is comprised of
one common share of the Company (a "Common Share") and one Common
Share purchase warrant of the Company (a "Warrant"). Each whole
Warrant entitles the holder thereof to purchase one Common Share
(each a "Warrant Share") for a period of 5 years expiring
December 23, 2027, at a price of
$0.05 per Warrant Share. 4,100,000
Units have been issued on closing and 16,700,00 Units have been
closed in escrow pending receipt of TSX Venture Exchange final
approval.
The Offering was sold pursuant to exemptions from prospectus
requirements. The proceeds from the sale of Units will be added to
working capital in furtherance of the Company's business. The
securities issued pursuant to the Offering shall be subject to a
statutory hold period of four months and one day expiring
April 23, 2023, as well as the
Exchange Hold Period as the Offering was carried-out pursuant to
the Minimum Price Exception stipulated in Policy 1.1. Completion of
the private placement remains conditional to the final approval of
the TSX Venture Exchange.
Closing of a debenture private placement
The Company also announces that it has successfully closed a
private placement which consisted of the issuance of an unsecured
convertible debenture ("Debenture") previously announced on
December 12, 2022 in the amount
of $396,000 maturing on December 23, 2024, bearing interest at a rate of
15% per annum with capital and interest payable on the maturity
date. The Debenture is convertible into common shares at a price of
$0.10 per share. The Debenture was
issued pursuant to exemptions from prospectus requirements and
shall be subject to a statutory hold period of four months and one
day expiring April 23, 2023. Closing
of the Debenture private placement shall also be subject to the
final approval of the TSX Venture Exchange.
About Mobi724 Global Solutions Inc.
Every Transaction is An Opportunity
Mobi724 Global Solutions Inc. (TSX-V: MOS) is an AI powered
fintech company which provides a platform, that enables banks and
merchants to offer their customers real-time payment card-linked
incentives, in a white-label format. Mobi724's objective is to add
a layer of AI-driven actionable intelligence to every payment
transaction, creating engaging consumer experiences &
generating incremental commercial opportunities to its clients.
Learn more at mobi724.com.
Legal Disclaimer
Mobi724 cautions investors that any forward-looking
statements or projections made by Mobi724 are subject to risks and
uncertainties, that may cause actual results to differ materially
from those projected. Such factors include, but are not limited to,
those described under Item 'Risk Factors and Uncertainties' in the
Company's Management Discussion and Analysis, available on SEDAR.
Any forward-looking statements reflect management's current
estimates, beliefs, intentions and expectations; they are not
guarantees of future performance. Mobi724 cautions that all
forward-looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many
of which are beyond Mobi724's control. Accordingly, actual and
future events, conditions and results may differ materially from
the estimates, beliefs, intentions and expectations expressed or
implied in the forward-looking information. Except as required
under applicable securities legislation, Mobi724 undertakes no
obligation to publicly update or revise any forward-looking
information.
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 AND IS NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES.
SOURCE Mobi724 Global Solutions Inc.