Vancouver, B.C.  / TheNewswire / August 29, 2018 – Mobio Technologies Inc. (TSXV: MBO) (“Mobio” or the “Company”) is pleased to announce a plan of arrangement with its subsidiary 0968998 B.C. LTD (“Subco”) whereby the Company will transfer the assets (the “Assets”), being the investments into various business into Subco by way of a plan of arrangement (the “Arrangement”) pursuant to Division 5 of Part 9 of the Business Corporations Act (British Columbia).

 

The purpose of the Arrangement is to allow the Company to divest itself of the Assets to Subco, enabling the Company to focus on business of running the technology business of Strutta.com Media Inc. It is expected that Subco will have a diversified management team, with special focus on the business of an investment company.  The Arrangement permits Subco to raise capital and acquire additional assets on its own from the date of the Arrangement Agreement dated for reference August 28, 2018 (the “Arrangement Agreement”) until and after the Arrangement is approved.

 

The Arrangement is subject to the approval by the shareholders of the Company, the TSXV and the Supreme Court of British Columbia.

 

If approved, the Arrangement will result in the shareholders of the Company receiving one common share of Subco with respect to every one common share of the Company as of the share distribution record date which will be determined by the board of directors of the Company and announced by way of a separate news release.  There will be no change in shareholders’ holdings in the Company as a result of the Arrangement. No outstanding warrants or options of the Company will be transferred over to Subco.  Subco will become a reporting issuer in British Columbia and Alberta.

 

Full details of the proposed Arrangement will be provided in a Management Information Circular that will be mailed to all the shareholders of the Company. The Arrangement Agreement will be available on www.sedar.com under the profile of the Company.

 

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 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.

 

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.