Tickers: XTSX:MBO, PINX:MBIOF
Tags: Technology, Finance
Vancouver, B.C. / TheNewswire / April 19, 2018 - Mobio Technologies Inc. (TSXV: MBO) ("Mobio" or the "Company") announces that it has entered into debt settlement agreements with creditors of the Company to settle $65,000 in debt through the issuance of 866,670 common shares and 100,000 warrants, subject to regulatory approval. The debt settlement shares are subject to a four month hold period expiring August 20, 2018 and are issued at a price of $0.075 per share. $50,000 of the debt is for repayment of loans to two insiders.
The warrants are exercisable at $0.15 for two years from the date of issuance. The exercise of the warrants is also subject to a four month hold period and 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 Company also provides a correction that Huitt Tracey does not provide investor relations services for Mobio.
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
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.
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