MONTREAL, QUEBEC--(Marketwired - Feb. 20, 2017) - Mobi724 Global Solutions Inc. (the "Company") (CSE:MOS)(CSE:MOS.CN), a technology leader in the digital incentives, couponing and payment space, announces that on February 9, 2017 it has issued 9,507,930 common Shares of the Company at market price less the maximum allowable discount 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.
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 November 25, 2016. Following this issue, the anti-dilution provision will cover the conversion of some previously issued convertible debentures and the next $1.92M of new financing (of which $550K was raised subsequent to the November 25, 2016 Board meeting).
Forgiveness of debt
On February 9 2017, the Company issued 1,423,467 common shares at a price of $0.24 (market price less maximum allowable discount in forgiveness of $341,632.01 of bona fide debt. On February 17, 2017 the Company issued 86,353 common shares at a price of $0.365 in forgiveness of a $31,518.85 bona fide debt.
The Company also announces that on February 7th, 2017 it has granted 351,500 stock options under its stock option plan to its employees 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 February 7, 2020. Details are found on Form 11 filed on the CSE on February 7, 2017.
About Mobi724 Global Solutions
Mobi724 Global Solutions Inc. (CSE:MOS)(CSE:MOS.CN) hereinafter (MOBI 724), a leader in the Fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of Payment & Digital Marketing solutions.
We are innovating in our market with a combined EMV Payment, Card Linked Offers, and Digital Marketing platform that works on any card and any mobile device. We pioneered in adding intelligence to all types of transactions benefiting banks, retailers and cardholders. We succeed in leveraging all 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. Our easy-to-adapt gateway Switch is designed for easy integration with all payment protocols in our target markets.
Within the same solution suite we combined our Card Linked Offers solution, and provided financial institutions´ payment card portfolios and retailers the ability to add offers and/or coupons which can be redeemed directly at the Point of Sale, in a seamless user experience for all the parties in the eco-system.
MOBI724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale (POS).
The Corporation 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.
Our 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's 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.
For more information on its products and on MOBI724 Global Solutions, visit www.mobi724globalsolutions.com.
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.