Vancouver, B.C. – TheNewswire - May 30, 2022. Mobio Technologies Inc. (TSXV:MBO) (“Mobio” or the “Company”) announces that further to the news releases of the Company issued on March 15, 2022 and March 16, 2022,  Elite Window Cleaning Inc. (“Elite”) has chosen to withdraw from the non-binding letter of intent (the “LOI”) dated March 15, 2022, which set out the proposed basic terms and conditions for the 100% acquisition of Elite, a window cleaning franchisor and a 100% acquisition of Tracksuit Movers Inc. (“TMI”), a full-service moving company franchisor through a share exchange (the “Transaction”). Whilst Elite has chosen to withdraw, Mobio is still actively negotiating the Transaction with TMI.  

Completion of the Transaction is subject to a number of conditions, including but not limited to, entering into a binding agreement, acceptance by the TSX Venture Exchange (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.

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.