MONTREAL, Dec. 30,
2022 /CNW Telbec/ - Greatland Investments Limited
(the "Acquiror") has today filed an early warning report (the
"Early Warning Report") advising that on December 23, 2022 participated in a private
placement (the "Transaction") according to which the Acquiror was
issued 20,000,000 common shares ("Shares") and 20,000,000 common
share purchase warrants ("Warrants") of Mobi724 Global Solutions
Inc. ("Mobi724" or the "Company") (TSXV: MOS).
The Shares were issued at a price of $0.025 per Shares each Warrant expiring on
December 23, 2027 and are exercisable
at a price of $0.05 per shares.
Prior to the Transaction, the Acquiror owned directly or
indirectly 27,692,307 Shares representing approximately 9.6% of the
outstanding Shares on an undiluted basis and 20,000,000 Warrants
representing 16.7% on a partially undiluted basis. Following the
closing of the Transaction, the Acquiror has beneficial ownership
over directly or indirectly 47,692,307 Shares and 40,000,000
Warrants representing approximately 14.3% of the outstanding Shares
on a non-diluted basis and 23.5% on a partially diluted basis.
16,700,000 of the 20,000,000 Shares and Warrants were closed in
escrow pending receipt of the final approval from the TSX Venture
Exchange (the "Exchange").
This news release is being disseminated as required by National
Instrument 62-103-The Early Warning System and Related Take Over
Bids and Insider Reporting Issuers in connection with the filing of
an early warning report (the "Early Warning Report") and relates to
the Company whose head office situated at 1275 Avenue des Canadiens
de Montreal, suite 500,
Montreal, Quebec, H3B 0G4 and to
the Acquiror with its head office located at unit 4/F, Yally
industrial Building, 6, Yip Fat Street WONG Chuk Hang, Hong Kong.
A copy of the Early Warning Report with additional information
in respect of the foregoing matters may be found on www.SEDAR.com.
On the Company profile. A copy of such report may also be obtained
by contacting Mrs. Anita Got for Mr. Bernard Pouliot (Anita.Got@bfbelmont.com) +852
3703 5268
SOURCE Mobi724 Global Solutions Inc.