Mobi724 Global Solutions Inc.

Mobi724 Global Solutions Inc.

October 29, 2015 09:21 ET

Mobi724 Global Solutions Inc. (CSE:MOS) Acquires the Remaining 49% Shares of Mobi724 Solutions Inc. ("Solutions Inc.")

MONTREAL, QUEBEC--(Marketwired - Oct. 29, 2015) - Mobi724 Global Solutions Inc. (the "Company") (CSE:MOS), a technology leader in the digital incentives, couponing and payment space, announces that it has successfully completed the acquisition of the remaining 49% tranche of Solutions Inc. The Company had initially acquired a 51% controlling interest in Solutions Inc. in July 2013. This transaction renders Solutions Inc. a wholly owned subsidiary of the Company.

Stephane Boisvert, Chairman of the Board stated: "As one of the instigators of the initial transaction 2 years ago, I am very pleased as this transaction will bring the digital couponing solution, which is now core to our suite of solutions and which is already generating revenue from multiple global brands in various countries, 100% under the Company's control."

The purchase price for the remaining 49% shares of Solutions Inc. represents 20.70% of the aggregate total issued and outstanding shares of the Company as of the 19th of October 2015 (the "Purchase Price") after issuance of shares to the remaining shareholders of Solutions Inc. (the "Remaining Shareholders of Solutions Inc."). At closing, the Remaining Shareholders of Solutions Inc. received 14,493,074 common shares of the Company which represents 20.70% of the aggregate total issued and outstanding shares of the Company as of the 19th of October 2015. The Purchase Price is subject to a pre-defined anti-dilution provision with a cap of 18.05% of the total issued and outstanding shares of the Company. The anti-dilution provision covers the current $3,200,000 round of financing, which the Company is seeking to raise and all outstanding debentures that are slated to be converted at year's end including the debentures converted on October 20, 2015.

As the CEO of the Company, Marcel Vienneau stated: "Today all of the founders of Mobi724 Solutions Inc. are key executives of the Company. This shows the degree of confidence and commitment that the founders of Mobi724 Solutions Inc. have in the future success of the Company. As a shareholder group, the shareholders of Mobi724 Solutions Inc. now represent the largest shareholder group of the Company and, as key members of the management team, we intend to accelerate the creation of value for all of the Company's investors. Our digital incentives and couponing solutions are very innovative and bring a great deal of value to players in the global payment space such as banks, mobile carriers and large retailers. Our "best of the breed" solutions are in revenue mode and have begun to gain traction with many global brands in multiple countries. All of this simply adds to the Company's 'smart transaction' vision."

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.

SOURCE Mobi724 Global Solutions Inc.

Certain statements in this document, including those which express management's expectations or estimations with regard to the Corporation'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 Corporation 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 Corporation or to any individual expressing them in the name of the Corporation. Unless required by law, the Corporation 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.

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