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.
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.