Mobio Announces Private Placement
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Vancouver, B.C. / TheNewswire / February 7, 2018 – Mobio Technologies Inc. (TSXV: MBO) (“Mobio” or the “Company”) is pleased to announce it has arranged a non-brokered private placement of up to 6,666,667 units (the “Units”) at a price of $0.075 per Unit for aggregate gross proceeds of $500,000.00 (the “Offering”). Each Unit will be comprised of one (1) common share and one-half of one (1/2) common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.15 for two years from closing of the Offering.
Finders’ fees are payable on a portion of the private placement, in cash and finders’ warrants, each equal to five (5%) percent of the amount placed by the finder. The finders’ warrants will be exercisable for one year at a price of $0.075 per finders’ warrant Unit.
The expiry date of the warrants may be accelerated by the Company if the common shares of the Company achieve a volume weighted average trading price greater than $0.20 for twenty (20) consecutive trading days.
The net proceeds of the Offering will be used for working capital and to retire a portion of the Company’s debt.
All securities issued in the private placement will be subject to a four month hold period.
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 contact:
Huitt Tracey, Investor Relations
Tel: 604-537-2094
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.
(Not for dissemination in the United States of America)