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Montreal, Quebec–(Newsfile Corp. – September 30, 2021) – Mobi724 Global Solutions Inc. (TSXV: MOS) (“Mobi724” or the “Company”), a fintech enabler of AI-powered payment card-linked solutions, announced that it has issued a debenture in the amount of $500,000 (the “New Debenture”) consisting of capital rolled into the New Debenture from an existing debenture (“CD-2019-1”) of the same amount of $500,000 which was cancelled by mutual agreement of the parties. The New Debenture replaces CD-2019-1 and will mature on December 30, 2023 (the “Maturity Date”) and bear interest at a rate of 12%. The New Debenture is convertible at a price of $0.08 if converted prior to the first anniversary date (if converted after the first year, the conversion price will revert to $0.10 pursuant to TSX Venture Exchange (“TSXV”) Policies). The capital and interest are payable on the Maturity Date. The maximum number of common shares issuable pursuant to a conversion of the capital of the New Debenture is 6,250,000. No new funds were injected in the Company pursuant to the issuance of the New Debenture. The cancellation and roll over of the CD-2019-1 into the New Debenture was requested by BDC as a condition for the amendment of its financing agreement with the Company which had been announced in a press release dated June 30, 2021.

Correction:

In the June 30th News Release, the Company announced the issuance of a secured debenture to Investissement Quebec, as mandatary to the Government of Quebec, in the amount of $1,150,000 (the “IQ Debenture”). In accordance with TSXV Policies with respect to the issuance of the IQ Debenture, the Company hereby effects the following precision concerning the conversion price:

The conversion price of the capital (“Conversion Price”) shall be equal to the greater of: a) the prevailing market price of the shares on the day of the conversion less the maximum discount allowed by the rules of the TSX Venture Exchange (“Exchange”); and, b) $0.05 if the conversion occurs during the first year (or $0.10 if the conversion occurs after the first year). 23,000,000 common shares is the maximum allowed to be issued pursuant to the conversion of capital of the IQ Debenture. The issuance of the IQ Debenture is conditional upon the final approval of the TSX-V.

About Mobi724 Global Solutions Inc.

Every Transaction is An Opportunity

Mobi724 Global Solutions Inc. (TSXV: MOS) is a fintech company that enables banks and merchants to offer their customers real-time payment card-linked incentives, in a white-label format. Mobi724’s objective is to add a layer of AI-driven actionable intelligence to every payment transaction, creating engaging consumer experiences & generating incremental commercial opportunities to its clients.

Legal Disclaimer

Mobi724 cautions investors that any forward-looking statements or projections made by Mobi724 are subject to risks and uncertainties, that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item ‘Risk Factors and Uncertainties’ in the Company’s Management Discussion and Analysis, available on SEDAR.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE DOES NOT CONSTITUTE A SOLICITATION TO BUY OR SELL ANY SECURITIES IN THE UNITED STATES AND IS NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Investor Relations:

For further information, please visit www.MOBI724.com or contact:

Marcel Vienneau, CEO
Mobi724 Global Solutions Inc.
T: 514-394-5200 [email protected]

Nicole Piasentini, Investor Relations
NATIONAL Capital Markets
T: 647-382-9373 [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98185

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