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Mobio Announces Private Placement

Tickers: XTSX:MBO, PINX:MBIOF
Tags: Finance, Technology

Vancouver, B.C. / TheNewswire / January 14, 2019 - Mobio Technologies Inc. (TSXV: MBO) ("Mobio" or the "Company") is pleased to announce it will be proceeding with the arrangement of a non-brokered private placement of up to 14,666,667 units (the "Units") at a price of $0.075 per Unit for aggregate gross proceeds of $1,100,000.00 (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 $0.10 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 $0.10 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 Company has determined that a portion or all of the Offering may be made available to existing securityholders of the Company ("Existing Security Holders") who qualify under the "existing securityholder prospectus exemption" available in certain jurisdictions in Canada (the "Existing Security Holder Exemption"). As the Existing Security Holder Exemption contains certain restrictions and is only available in certain jurisdictions in Canada, investors that do not qualify under the Existing Security Holder Exemption may qualify to participate in the Offering under other prospectus exemptions.

To comply with the criteria of the Existing Security Holder Exemption, the Offering to Existing Security Holders will be subject to, among other criteria, the following:

  • - Existing Security Holders must have been holding securities of the Company as at January 14, 2019, which has been set as the record date for the purpose of determining Existing Security Holders (the "Record Date");

    - Existing Security Holders must be purchasing Units as principal for their own account and not for any other party;

    - the aggregate acquisition cost to a subscriber under the Existing Security Holder Exemption cannot exceed $15,000 per twelve month period unless that subscriber has obtained advice from a registered investment dealer regarding the suitability of the investment;

    - In the event that aggregate subscriptions for Units under the Offering exceed the maximum number of Units to be distributed, then Units will be sold to qualifying subscribers on a pro rata basis based on the number of Units subscribed for.

Existing shareholders wishing to participate in the private placement must contact Laurie Baggio at ir@mobio.net before January 21, 2019 and return signed subscription agreements together with payment before January 21, 2019.

The net proceeds of the Offering will be used for working capital and to retire a portion of the Company's debt.

The Offering is subject to all necessary regulatory approvals and all securities issued in the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

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.

/ NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Copyright (c) 2019 TheNewswire - All rights reserved.

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