MONTREAL, QUEBEC — (Marketwired) — 10/28/15 — Mobi724 Global Solutions Inc. (“Mobi724” or the “Company”) (CSE: MOS), a technology leader in the digital incentives, couponing and payment space, announces that on October 20th, 2015 the debenture of $1,900,000 issued between April and July 2014 (the “April-July 2014 Debenture”) was converted into common shares of the Company. The capital and interest accrued up to October 20th, 2015 of the April-July 2014 Debenture, which amounted to $2,190,507, were converted at a price of $1.00 per common share. Pursuant to the terms of the April-July 2014 Debenture each converted common share carries with it a 3/4 purchase warrant with an exercise price of $1.45 which expires 24 months from the date of issuance. As a result of the aforementioned conversion, 2,190,507 common shares and 1,642,880.19 purchase warrants were issued.
The Company further announces that today it converted bona fide debts owing to its suppliers, employees, consultants and creditors (the “Interested Parties”) totalling $931,208.98 into common shares of the Company (the “Debt to Equity Transaction”) at an average conversion price of $0.17 per share. As a result of this Debt to Equity Transaction the Company issued 5,575,029 common shares to the Interested Parties.
About Mobi724 Global Solutions
Mobi724 Global Solutions (CSE: MOS), a corporation based in Montreal, Canada, is a technology leader whereas we offer a unique fully integrated suite of solutions – PAYMENT-COUPONING AND LOYALTY all in one.
Our vision is to leverage commoditized payment transactions with layers of intelligence on top of these transactions (smart transactions) and enhance their value for the players in this eco-system: customers, banks, mobile carriers and retailers in a seamless experience.
Mobi724 Global Solutions unleashes the true potential of both payment and couponing/rewards transactions for both online and offline points of sale.
The Corporation is fully dedicated to deliver unique “real time” and seamless digital promotional incentives (coupons including card linked coupons, bank cards, loyalty rewards) embedded into the most secured payment environment. The Corporation provides to its customers full and comprehensive traceability and enriched consumer data through its offering. Its solutions enable 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.
Their credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
Mobi724 PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.
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. This news release does not constitute a solicitation to buy or sell any securities in the United States.
Contacts:
Mobi724 Global Solutions Inc.
Mr. Marcel Vienneau
1-514-394-5200 Ext 413
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