VANCOUVER, BC--(Marketwired - August 04, 2016) - Mobio Technologies Inc. (TSX VENTURE: MBO), ("Mobio" or the "Company") is pleased to announce that Laurie Baggio has been appointed as Chief Executive Officer and a director of the Company, effective immediately. The Company's outgoing CEO, Michael Edwards, will remain on the board of directors.
Mr. Baggio is an accomplished entrepreneur and brings a wealth of operating and investing experience to Mobio. He was one of the original executives of 1-800-GOT-JUNK?, most recently serving as Chief Operating Officer. During his tenure, he helped build the franchise into the world's largest junk removal service in North America and Australia, winning many awards along the way, including being named to BC's Top Employer's list on multiple occasions. Additionally, he has been an investor, board member, and advisor to many start-up and high-growth companies, including in the technology space. Companies he has recently been involved with include Moj.io, a company bringing smart technology to cars, Beanworks Solutions, an advanced software-based accounts payable solution provider, and Foodee Media, an online delivery and takeout ordering platform. As CEO of Mobio, Laurie will be focusing on new technology initiatives, investment opportunities, and product growth.
"We are pleased to have Laurie come on board as CEO," commented Michael Edwards. "He brings a depth of operating experience and know-how with respect to start-ups that positions the Company for success. His track record speaks for itself, and I look forward to working with him on new initiatives as a director of the Company."
"I am very excited to accept the position of CEO at Mobio," said Laurie Baggio. "With the firm support of the board and an investor base that is committed to high-growth technology initiatives, I believe we have an attractive platform to aggressively build a company encompassing innovative technologies. In recent years we have witnessed tremendous value creation in the technology space, and going forward, Mobio will have a renewed focus on finding ways to participate in that."
The Company also announces that it intends to conduct a non-brokered private placement in which it will raise up to $1,200,000 through the issuance of units of the Company at a price of $0.05 per unit. Each Unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share at a price of $0.075 for a period of twenty-four months from closing of the private placement.
All securities issued in connection with the private placement will be subject to a four-month-and-a-day statutory hold period. The private placement remains subject to the approval of the TSX Venture Exchange.
About Mobio Technologies Inc.
Mobio is a publicly traded company on the TSX Venture Exchange, headquartered in Vancouver, BC, and runs Strutta.com Media Inc. Strutta is a social promotions platform that helps marketers bring potential customers from stranger to fan to customer, and Strutta's Promotions API provides a technology platform that facilitates social media competitions and campaigns for global brands. For more information visit www.mobio.net.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS. Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of Mobio are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Mobio are those risks described herein and from time to time, in the filings made by Mobio with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedar.com.
Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.