Mobio to Arrange Bridge Financing

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$432/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Return to homepage

(TheNewswire)

Mobio Technologies Inc.

 

Vancouver, B.C. – TheNewswire - June 2, 2022 - Mobio Technologies Inc. (TSXV:MBO) (“Mobio” or the “Company”) announces that it intends to complete a bridge financing by issuing approximately 4,285,714 common shares at a price of $0.07 per share to arm’s length parties for gross proceeds of $300,000 (the “Bridge Financing”).

 

In its news releases issued on March 15, 2022, March 16, 2022 and May 30, 2022 Mobio announced the proposed 100% acquisition of Tracksuit Movers Inc. (“TMI”), a full-service moving company franchisor through a share exchange (the “Transaction”).

 

Proceeds from the Bridge Financing will be used to cover the costs associated with proceeding to completion of the proposed Transaction including, audit fees, legal fees, preparing necessary documentation, due diligence and regulatory fees.

 

The Bridge Financing will be completed independent of the completion of the Transaction with the funds being made available for Mobio’s use immediately upon closing of the Bridge Financing. The Bridge Financing is subject to the acceptance by the TSX Venture Exchange (the “Exchange”).

 

Completion of the Transaction is subject to a number of conditions, including but not limited to, preparing and entering into a binding agreement, acceptance by the Exchange and disinterested shareholder approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Mobio should be considered highly speculative.

 

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 please contact:

 

Laurie Baggio, CEO Tel:  604-805-7498 [email protected]

 

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 Mobio.

 

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.

Copyright (c) 2022 TheNewswire - All rights reserved.