Home » Networking, Picture Gallery » Mobi724 Global Solutions Inc. (CSE: MOS) Final Issuance of Shares Pursuant to Provisions Concerning the Acquisition of the remaining 49% Shares of Mobi724 Solutions Inc. (“Solutions Inc.”)

Mobi724 Global Solutions Inc. (CSE: MOS) Final Issuance of Shares Pursuant to Provisions Concerning the Acquisition of the remaining 49% Shares of Mobi724 Solutions Inc. (“Solutions Inc.”)




MONTREAL, QUEBEC — (Marketwired) — 06/30/17 — Mobi724 Global Solutions Inc. (the “Company”) (CSE: MOS)(CSE: MOS.CN)(CNSX: MOS)(OTCQB: MOBIF), a technology leader in the digital incentives, couponing and payment space, announces that it has issued 6,798,577 common Shares of the Company at market price to the previous shareholders of the Solutions Inc. pursuant to the terms of pre-defined anti-dilution provisions and agreements with those shareholders. This issuance has been reviewed by the audit committee and approved by the Board of directors and these shares issued form part of the purchase price for the remaining 49% shares of Solutions Inc. which transaction was announced on October 28, 2015, reported in the financial statements and covered during the last annual meeting. The Purchase Price was subject to a pre-defined anti-dilution provision with a cap of 18.05% of the total issued and outstanding shares of the Company and this issue covers events up to the Company–s Board of directors meeting on May 1, 2017. This is the final issuance with respect to the anti-dilution provisions.

Forgiveness of debt

On June 28 and June 30 2017, the Company issued 501,566 common shares at market price varying between $0.23 and $0.235 in forgiveness of $115,664.41 of bona fide debt. On June 28, 2017 the Company also issued 202,898 common shares at a price of $0.1725 (market price less the maximum allowable discount pursuant to the settlement agreement) in payment of a $35,000 portion of a lawsuit settlement.

Options

The Company also announces that on June 30th, 2017 it has granted 710,000 stock options under its stock option plan to its employees, officers and consultants. Each option shall vest gradually over a period of 3 years (1/3 per year, the first 1/3 vesting upon grant) and will allow the optionee to acquire 1 common share of the Company at a price of $0.35 until June 30, 2020. Details are found on Form 11 filed on the CSE on June 30, 2017.

About Mobi724 Global Solutions

Mobi724, a leader in the fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of payment & digital marketing solutions with a combined EMV Payment, Card Linked Offers, and Digital Marketing 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 enables 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.

Forward Looking Statements

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 Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.

Contacts:
MOBI724 Global Solutions Inc.
Marcel Vienneau
1-514-394-5200 x 413





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