Vancouver, B.C. – June 9, 2022 – TheNewswire - Mobio Technologies Inc. (TSXV:MBO) (“Mobio” or the “Company”) announces that further to the news release issued on June 2, 2022, the Bridge Financing will be available to Mobio’s existing shareholders who were Mobio’s shareholders on the record date of June 1, 2022 in accordance with the applicable securities laws.

In its news releases issued on March 15, 2022, March 16, 2022 and May 30, 2022 Mobio announced the proposed 100% acquisition of Tracksuit Movers Inc. (“TMI”), a full-service moving company franchisor through a share exchange (the “Transaction”).

In its news release issued on June 2, 2022, Mobio announced that it intends to complete a bridge financing by issuing approximately 4,285,714 common shares at a price of $0.07 per share to arm’s length parties for gross proceeds of $300,000 (the “Bridge Financing”). Mobio expects this to be the maximum amount of securities issued and proceeds raised. The minimum amount of the Bridge Financing is 3,571,428 common shares at a price of $0.07 per share for gross proceeds of $250,000.

If the aggregate subscriptions for common shares exceed the maximum number of common shares proposed, common shares will be allocated in proportion to the percentage subscribed to in the aggregate.

Proceeds from the Bridge Financing under both the minimum the maximum scenario will be used to cover the costs associated with proceeding to completion of the proposed Transaction including, audit fees, legal fees, preparing necessary documentation, due diligence and regulatory fees.

The Bridge Financing will be completed independent of the completion of the Transaction with the funds being made available for Mobio’s use immediately upon closing of the Bridge Financing. The Bridge Financing is subject to the acceptance by the TSX Venture Exchange (the “Exchange”).

Completion of the Transaction is subject to a number of conditions, including but not limited to, preparing and entering into a binding agreement, acceptance by the Exchange and disinterested shareholder approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Mobio should be considered highly speculative.

This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will there be any sale of any of the securities offered in any jurisdiction where such offer, solicitation or sale would be unlawful, including the United States of America. The securities being offered as part of the Bridge Financing have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and accordingly may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and any applicable state securities laws, or pursuant to available exemptions therefrom.

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.

For additional information please contact:

Laurie Baggio, CEO Tel:  604-805-7498 ir@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 under the profile of Mobio.

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.