Vancouver, B.C. – November 20, 2025 – TheNewswire - Plank Ventures Ltd. (“Plank” or the “Company”) (CSE:PLNK) announces that it has completed, pursuant to the binding share purchase agreement with Mobio Technologies Inc. (TSXV: MBO) (“Mobio”) previously announced on September 25, 2025, the sale of its investment in Karve IT Ltd. (“Karve”) consisting of 310,000 common shares of Karve in exchange for 2,861,538 common shares of Mobio (the “Agreement”).

 

Karve is a software development company operating under SaaS business model. Karve specializes in developing customer relationship management, franchise management and field services software which enables operational scalability and data driven workflows. Karve’s flagship product Move Right is in use across 20 locations in North America.

 

Transaction Details:

 

Closing Date: The transaction has now closed following receipt of all required regulatory acceptances.

 

Share Exchange: Plank sold its investment in Karve consisting of 310,000 common shares to Mobio, in exchange for the issuance of 2,861,538 Mobio shares from treasury. Plank’s shares in Karve were valued at $186,000, or $0.60 per share, and the number of Mobio shares issued was determined at the market price closest to the date of the purchase agreement.

Finder’s Fees: No finder’s fees were paid in connection with the sale of Karve shares to Mobio.

Non-Arm’s Length Transaction: The transaction is a related party transaction as Mobio and Plank have common control and management.  The transaction is exempt from the formal valuation and shareholder approval requirements pursuant to sections 5.5 and 5.7 respectively of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions because the fair market value of the transaction does not exceed 25% of market capitalization of Plank.

Following completion of the transaction, Plank no longer holds equity shares in Karve and now holds 2,861,538 shares of Mobio.

 

About Plank Ventures Ltd.

Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that have an established customer and revenue base and are seeking funding for expansion.

  

ON BEHALF OF THE BOARD OF DIRECTORS

 

“Laurie Baggio”

CEO and Director

 

For additional information please contact:

 

Laurie Baggio, CEO Tel:  778 300-7565

 

Forward Looking Statements

Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding the sale of Karve shares to Mobio, future plans and objectives of Plank 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 Plank are those risks described herein and from time to time, in the filings made by Plank with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedarplus.ca under the profile of Plank. Investors must not rely on the forward-looking statements.