Vancouver, B.C. / TheNewswire / February 4, 2019. Mobio Technologies Inc. (TSXV: MBO) (“Mobio” or the “Company”) announced that the Board of Directors of the Company has established February 15, 2019 as the share distribution record date (the “Share Distribution Record Date”) for the purpose of determining shareholders of the Company entitled to receive common shares in Plank Ventures Ltd. (formerly 0968998 B.C. LTD.) (“Plank”) pursuant to the Arrangement Agreement between the Company and Plank, dated August 28, 2018 (“the Arrangement”), previously announced in the Company’s news release of August 29, 2018.

 

Pursuant to the terms of the Arrangement, Mobio will divest itself of certain assets to Plank. Mobio shareholders as of the close of business on the Share Distribution Record Date will receive for every one common shares of Mobio (the “Common Shares”) one common share of Plank (each, a “Plank Share”) and one new common share of Mobio (the “New Mobio Share”). To facilitate closing of the Arrangement, Mobio expects that the New Mobio Shares will be listed on the TSX-V under the same symbol “MBO” as the Common Shares. The rights and restrictions of the New Mobio Shares are identical to the Common Shares.

 

The Share Distribution Record Date has been established for the purpose of determining the shareholders of Mobio entitled to receive the Plank Shares. It is not the date of which the shareholders of Mobio can expect to receive the Plank Shares. Shareholders of Mobio will receive the Plank Shares after all the required steps pursuant to the Plan of Arrangement have been completed. Plank Shares are expected be issued on February 22, 2019.

 

No action is required on the part of Mobio shareholders to receive the Plank Shares. Those shareholders of Mobio entitled to receive the Plank Shares will be mailed to their address either a share certificate or a direct registration statement evidencing their Plank Shares to the mailing address currently on file with the transfer agent or the shares of Plank will be credited directly to the respective brokerage accounts.

 

Option and warrant holders who exercise their options or warrants and are shareholders of Mobio on the Share Distribution Record Date, will receive Plank Shares. However, the option and warrant holders of Mobio will not be receiving options or warrants in Plank pursuant to the Arrangement.

 

The Arrangement has been approved by the shareholders of Mobio on December 31, 2018 and by the Supreme Court of British Columbia on January 8, 2019. Details of the Arrangement are set out in the management information circular of Mobio dated November 20, 2018 (the “Circular”) and the news release dated December 3, 2018 regarding the correction to the Circular, both available under Mobio’s profile on SEDAR (www.sedar.com).

  

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 under the profile of the Company.

 

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.