Mobi724 Global Solutions Inc.
CNSX : MOS

Mobi724 Global Solutions Inc.

February 19, 2015 13:54 ET

Mobi724 Global Solutions (CSE:MOS) Formerly HYBRID PAYTECH WORLD (CSE:HPT) Closes $625,000 in Funding To Propel Its Digital Promotions and Payment Solutions Forward

MONTREAL, QUEBEC--(Marketwired - Feb. 19, 2015) - Mobi724 Global Solutions Inc. ("Mobi724" or the "Company") (CSE:MOS), formerly Hybrid Paytech World Inc. (CSE:HPT), a technology leader in the digital incentives, couponing and payment space, today announced that it has completed a second tranche of private placement in the amount of $625,000. This is part of the $3,000,000 debenture financing previously announced on October 30 2014 of which, $ 1,625,000 has been attained with the current closing. The Convertible Debentures mature on December 31, 2015 (Maturity Date) and will accrue interest at a rate of 10% per annum. The Convertible Debentures shall be convertible at the option of the holder into common shares of the Company on or prior to the Maturity Date at a conversion price of $0.35 per common share. The common shares issuable upon conversion will be listed on the CSE and will be subject to a four month hold period from the date of closing. The Company has also issued 142,857 common shares at $0.35 per share in order to pay off outstanding debt of the Company. The Closing of the second tranche will leverage this working capital to scale its global operations and to accelerate its revenue growth.

Various investors have contributed to this financing round, which is a testament to their confidence in the Mobi724's vision, technology, growth potential and management team.

"Our strategic objective is very simple and singular. As our solutions are market ready, the funds are used to accelerate the commercialization so we can increase our global sales and benefit our customers," says Marcel Vienneau, CEO of Mobi724. "We will continue to seek strategic acquisitions and partnerships that will deliver value to both our growing customer base and our investors."

RECTIFICATION EFFECTIVE DATE OF NEW TICKER

On February 17, 2015 the Company issued a press release announcing the name change to Mobi724 Global Solutions Inc. The Company wishes to rectify that the effective date at which the new ticker (MOS) will become effective will be February 20th, 2015 instead of February 19th, 2015.

About Mobi724 Global Solutions

Mobi724 Global Solutions (CSE:MOS), formerly Hybrid PayTech World Inc. (CSE:HPT), a corporation based in Montreal, Canada, is a technology leader in digital incentives (such as mobile couponing & loyalty rewards) and payment solutions (including mobile payment).

Mobi724 Global Solutions unleashes the true potential of both payment and couponing/rewards transactions for both online and offline points of sale.

The company is fully dedicated to deliver unique "real time" and seamless digital promotional incentives (coupons, bank cards, loyalty rewards) embedded into the most secured payment environment. The company 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 & measure" incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales.

Our credit and debit payment solutions, focusing on authentication, approved security and quick merchant adoption allows our users to process payments with a wide range of devices over a secure and seamless transaction.

Our PCI and EMV cloud-based switch, with our device agnostic connectivity, simplifies deployment, integration and introduces new payment and digital incentives solutions to the market.

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.

Contact Information

  • For more information on its products
    and on Mobi724 Global Solutions, contact:
    Mr. Marcel Vienneau
    1-514-394-5200 Ext 413
    www.mobi724globalsolutions.com