Mobi724 Global Solutions Inc. Announces Closing of Private Placement Offering for Gross Proceeds of over 10M
Mobi724 Global Solutions Inc. Announces Closing of Private Placement Offering for Gross Proceeds of over 10M
Momentum Public Relations
Press Release: April 21, 2017
Mobi724 Global Solutions Inc. (“Mobi724” or the “Company”) (CSE:MOS)(CSE:MOS.CN) – a Fintech leader offering all in one fully integrated EMV payment, card link couponing and digital marketing solutions, announces that it has successfully completed its private placement offering of special warrants (the “Special Warrants”), previously announced by news releases dated April 4, and April 6, 2017, issuing an aggregate of 29,538,203 Special Warrants at a price of $0.35 per Special Warrant for aggregate gross proceeds of $10,338,371.05, which includes the exercise by GMP Securities L.P. (“GMP”), as sole lead agent, of its option for an additional 2,395,346 Special Warrants.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For more information, please visit www.mobi724globalsolutions.com.
About Mobi724 Global Solutions
Mobi724, a leader in the fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of payment & digital marketing solutions with a combined EMV Payment, Card Linked Offers, and Digital Marketing platform that works on any card and any mobile device. Mobi724’s solutions add value to all types of transactions benefiting banks, retailers and cardholders by leveraging available user and purchasing data to increase transaction volumes and spend. Mobi724 provides a turnkey solution to its clients to capture card transactions on any mobile device, at any point of sale or from any payment card. Mobi724 provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to any mobile device and allow its redemption at any point of sales.
Forward Looking Statements
Certain statements in this document, including those which express management’s expectations or estimations with regard to the Company’s future performance, constitute “forward-looking statements” as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to the Company or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
MOBI724 Global Solutions Inc.
Marcel Vienneau
1-514-394-5200 x 413
www.mobi724globalsolutions.com
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Financial Technology, Mobi724 Global Solutions, News Home, Technology
Imex Systems Inc. Expands Solutions in Fintech for Governments
Imex Systems Inc. Expands Solutions in Fintech for Governments
Momentum Public Relations
Press Release: April 17, 2017
TORONTO, ONTARIO–(Marketwired – April 17, 2017) – Imex Systems Inc. (“Imex” or the “Company”) (TSX VENTURE:IMEX), a software solution provider to Governments, Municipalities and Public Authorities, is pleased to announce the following update to its business operations.
Imex Systems Inc. is currently supplying Digital Government Technology platforms for Governments and providing Smart City solutions. Payments are an important part of Governments and Smart Cities and Imex already has a sophisticated payment technology platform called iPay. Governments anywhere in the world are the largest recipients of payments and also the largest payors. Imex is now extending the iPay solution, to incorporate digital wallet technology to help citizens make payments for Government products and services. This creates a tremendous opportunity for both Governments and Imex. Governments and cities can reduce the cost of accepting digital payments, while providing additional convenience for citizens.
The system to be launched by Imex, will be an innovative offering that can help citizens not only make payments to the Government, but also receive Government disbursements like pensions, social benefits through the digital wallet. The platform will be launched both in developed markets as well as in emerging countries. The technology will support smart phones, conventional mobile phones, as well as other channels. In the case of smart cities, the digital wallet will support payments for parking, public transportation and other services.
Imex sees tremendous international growth, especially in Africa and India, not only in the digital wallet area, but also in the launch of Government prepaid credit cards.
About Imex Systems
Imex Systems Inc. is a Canadian software products, solutions and services provider to Governments, Municipalities and Public Authorities in Canada and internationally. Imex primarily focuses on the E-Government and Smart Cities market that include payments. It helps public sector entities to provide “Any Time, Any Where, Any Device and Any Channel” convenience for citizens to access government services and help with digital transformation of government operations and streamline revenue. Imex’s various product and service offerings include: iGov – a Digital Government Platform for all levels of governments, which provides all the pre-built components for building an effective Digital Government and supporting payment processing through multiple channels; iCity – a Smart City Solution; and miGov – a Mobile Government Framework.
Forward-Looking Statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates with respect to the adoption of the Company’s various platforms by various jurisdictions and the future revenue of the Company. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the need for approvals from the relevant government body; future capital needs and uncertainty of additional financing; the competitive nature of the industry; unproven markets for the Company’s product offering; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; use and storage of personal information and compliance with privacy laws; and those risks set out in the Company’s public documents filed on www.sedar.com.
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
- Published in Financial Technology, Imex Systems, News Home, Technology
International Wastewater installs SHARC system at False Creek
International Wastewater installs SHARC system at False Creek
Momentum Public Relations
Press Release: April 12, 2017
International Wastewater Systems Inc (C:IWS)
Shares Issued 95,623,894
Last Close 4/11/2017 $0.22
Wednesday April 12 2017 – News Release
Mr. Lynn Mueller reports
IWS COMPLETES METRO VANCOUVER INSTALLATION
International Wastewater Systems Inc. has completed the installation of a SHARC thermal energy exchange system at the False Creek Neighbourhood Energy Utility in Vancouver.
The False Creek SHARC was announced in August, 2016, following the successful collaboration between International Wastewater and Metro Vancouver. Metro Vancouver is a partnership of 21 municipalities, one electoral area and one treaty first nation that collaboratively plans for and delivers regional-scale services across the Lower Mainland of British Columbia.
The False Creek Neighbourhood Energy Utility is a large-scale district heating network that began operations in 2010 and currently provides space heating and hot water for 4.3 million square feet (395,000 square metres) of residential, commercial and institutional space.
International Wastewater installed its newest and largest capacity system at False Creek, the model 880. The SHARC 880 offers the highest capacity of any SHARC system to date, with flow rates of up to 1,500 gallons per minute, a capacity increase of three times when compared with existing SHARC models. The False Creek SHARC installation will include two SHARC 880 systems working in tandem and will initially operate over 12-month period to demonstrate the economic and energy efficiencies of the system.
This is the second time that a SHARC system has been integrated into a district heating network following International Wastewater’s installation at Borders College (Scotland) in 2015. Large-scale energy networks are a growing trend as municipalities look to increase energy efficiency and reliability, decarbonize energy grids and reduce life-cycle costs.
Lynn Mueller, chief executive officer of International Wastewater, commented: “We are pleased to be working with Metro Vancouver on their district heating network. This SHARC installation showcases the capability of [International Wastewater] technology when applied to large-scale, low-carbon thermal networks.”
About International Wastewater Systems Inc.
International Wastewater Systems is a world leader in thermal heat recovery. International Wastewater’s systems recycle thermal energy from wastewater, generating the most energy-efficient and economical systems for heating, cooling and hot water for commercial, residential and industrial buildings.
© 2017 Canjex Publishing Ltd.
From Stockwatch News
- Published in Energy, Green Technology, International Wastewater Systems, Life Sciences, News Home, Technology
INTEMA and Subscribe Technologies Inc. Sign a Strategic Partnership Agreement
INTEMA and Subscribe Technologies Inc. Sign a Strategic Partnership Agreement
Momentum Public Relations
Press Release: April 11, 2017
MONTREAL, QUEBEC–(Marketwired – April 11, 2017) – INTEMA SOLUTIONS INC. (“INTEMA”) (TSX VENTURE:ITM) and Subscribe Technologies Inc. (Subscribe) (CSE:SAAS)(CSE:SAAS.CN)(OTC PINK:SRBBF) are pleased to announce that they have recently reached a strategic partnership agreement. With this partnership, Intema’s eFlyerMaker will be made available to Subscribe’s bContact.com CRM users; eFlyermaker users will also be able to access Subscribe’s bContact.com CRM and accounting application.
This partnership agreement will strengthen both parties software offer by adding a greatly needed feature to the users. The added feature will also be a new source of revenue from the same customers who will use either of the software.
This partnership perfectly meets Intema’s desire to use innovation to help marketers deliver a total customer experience with its eFlyerMaker email software.
eFlyerMaker enables businesses to easily prepare and launch marketing campaigns. It is the only email marketing platform that can automate predictive custom content in a campaign or website by targeting users based on browsing, reading and purchasing habits.
Subscribe’s bContact.com is a cloud based SaaS business offering small and medium sized companies access to a fully integrated set of business management tools including a Customer relationship management system (CRM), accounting, banking, invoicing, billing, quotations and many other useful features. bContact reduces the learning curve of new users with a simpler solution to managing, tracking, invoicing and collecting from customers.
“Intema is continuously looking for solution partners that help extend eFlyerMaker’s offering and add value to our email campaign tool. Partnering with Subscribe Technologies provides an excellent opportunity to do that”, stated Roger Plourde, CEO, Intema Solutions.
“We are pleased to have been selected to be part of this strategic offering that will bring our customers more possibilities with Intema’s marketing tool while providing eFlyerMaker’s with access to bContact.” said Paul Dickson CEO Subscribe Technologies.
About Subscribe Technologies Inc.
Subscribe Technologies Inc. develops and acquires Software-as-a-Service (SaaS) businesses and in turn operates, manages and markets the service.
About INTEMA SOLUTIONS Inc. INTEMA’s mission is to integrate technologies to marketing. The company develops technologies for marketing and services related to predictive marketing, relationship marketing and database marketing. Since its inception, INTEMA has dedicated its efforts to deliver key solutions to the marketing industry. For more information, please visit our corporate website at intema.com and our product websites eflyermaker.com and matcheranalytics.com.
Paul Dickson, CEO
Subscribe Technologies Inc.
778-775-7297
admin@subscribetech.com
www.subscribetech.com
Roger Plourde, CEO
Intema Solutions Inc.
514-861-1881
roger.plourde@intema.ca
www.intema.ca
- Published in Intema Solutions, News Home, Technology
Imex Systems signs $6M contract with City of Toronto
Imex Systems signs $6M contract with City of Toronto
Momentum Public Relations
Press Release: April 10, 2017
Imex Systems Inc. has provided the following new development to its business operations.
The company has recently signed a professional services contract with the City of Toronto. This is a three-year contract that is effective from April 1, 2017, until April, 2020. The city and its agencies will be using Imex for various IT projects that require specific consulting and software development services around various technology projects.
The company estimates that the value of the contract will be in the range of $6-million over a three-year period.
Imex has a long history working with governments in both the Canadian provincial and municipal sectors on a variety of technology initiatives.
About Imex Systems Inc.
Imex Systems is a Canadian software products, solutions and services provider to governments, municipalities and public authorities in Canada and internationally. Imex primarily focuses on the e-government and smart cities market that include payments. It helps public sector entities to provide any time, anywhere, any device and any channel convenience for citizens to access government services and help with digital transformation of government operations and streamline revenue. Imex’s various product and service offerings include: iGov — a digital government platform for all levels of governments, which provides all the prebuilt components for building an effective digital government and supporting payment processing through multiple channels; iCity — a smart city solution; and miGov — a mobile government framework.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Imex Systems, News Home, Technology
International Wastewater Systems closes $725,100 last financing tranche
International Wastewater Systems closes $725,100 last financing tranche
Momentum Public Relations
Press Release: April 07, 2017
International Wastewater Systems Inc., further to its news release dated Feb. 27, 2017, has closed the final tranche of the company’s brokered private placement, led by Haywood Securities Inc. as agent.
Under the final tranche of the brokered placement, the company has issued 2,417,000 units at a price of 30 cents per unit for gross proceeds of $725,100. Each unit consists of one common share and one common share purchase warrant of the company. Each warrant entitles the holder to purchase one share until Feb. 27, 2019, at an exercise price of 40 cents per share.
The company has paid cash commissions in the amount of $31,282.50 from the sale of units under the final tranche of the brokered placement. The company has also issued to the agent and members of the selling group an aggregate of 104,275 non-transferable warrants. Each agent’s warrant entitles the holder to purchase one share at a price of 30 cents until Feb. 27, 2019.
As previously announced on Jan. 19, 2017, the company amended the terms of the company’s non-brokered private placement completed on Dec. 23, 2016, to offer each participant in the non-brokered placement one warrant for each share purchased in the non-brokered placement on the same terms as the brokered placement. Accordingly, the company has issued a total of 2,275,333 warrants to purchasers from the non-brokered placement.
In total, the company raised aggregate gross proceeds of $2,205,655 pursuant to the non-brokered placement and the brokered placement.
All securities distributed pursuant to the brokered placement and non-brokered placement are subject to a statutory hold period of four months and a day from the date of issuance.
About International Wastewater Systems Inc.
International Wastewater Systems is a world leader in thermal heat recovery. International Wastewater’s systems recycle thermal energy from waste water, generating the most energy-efficient and economical systems for heating, cooling and hot water for commercial, residential and industrial buildings.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Bio technology, Energy, Green Technology, International Wastewater Systems, News Home, Technology
Fake News And Hate Speech Erode Credibility & Confidence in Social Media Platforms Business Depends On
Fake News And Hate Speech Erode Credibility & Confidence in Social Media Platforms Business Depends On
Germany Takes Action
Unless the powers that be start acting the credibility of the internet will suffer to such an extent that businesses using social media for targeted branding, advertising and communications programs stand to see their plans slowly melt away as the platforms they use become increasingly tainted. Recently there have been some very good examples of what’s going wrong with the internet and digital communications. Among the symptoms are hate filled abusive trolling and fake news.
In late March major advertisers, companies like Verzion, Volkswagen, Johnson & Johnson and AT&T started pulling their ads from YouTube because they appeared alongside racist content. A week later Pepsico, Walmart and Starbucks joined the boycott parade. Google says that the problem is caused because the programs it uses to place ads with videos aren’t sophisticated enough to understand which content is too despicable to place ads next to but that it is working on the problem. The company has pledged to hire more people to develop programs to eliminate the problem.
In a statement Walmart said, “The content with which we are being associated is appalling and completely against our company values.”
When it come to Twitter, it almost seems as if you hear more about vicious hate campaigns, like the one launched against Ghostbusters’ actress Leslie Jones, than about the success of its attempts to lock out hate, abuse or racism from the once vaunted Twitterverse. Potholes and cracks are developing in the information highway that threaten to derail the commercial internet.
In a larger context the use of the internet to disseminate false news that has the potential to destabilize the west is more to be feared than any commercial loss. European countries with elections this year have almost all warned their publics about the danger of fake news and they have all pointed their fingers at Russia. On March 23, 2017 the Latvian foreign minister, Edgars Rinkevics warned the Canadian government that when Canadian troops deployed to Latvia the country should be prepared for a flood of Russian propaganda in the form of fake news stories on the internet designed to create friction between Canadians and the Latvian population. Shortly after they arrived in Lithuania, 400 German soldiers faced a slew of sexual misconduct stories launched over the internet in an attempt to swing Lithuania over to Russia’s side of the fence. NATO is stationing troops in all the Baltic States in response to Russia’s annexation of the Crimea and its continued meddling in Ukraine.
Closer to home, on New Year’s Eve, Breitbart News, ran a story with the headline “Revealed: 1,000-man mob attack police, set Germany’s oldest church alight on New Year’s Eve”. Breitbart’s objective in faking the story can only have been to help destablilize Germany by creating fear. Perversely enough, Breitbart probably thinks this will help stoke the fires of anti-immigrant fear in the United States. A destabilized west also helps Russia expand its influence. The story claimed that thousands of Arab immigrants launched fireworks at police, chanted God is Great and waved jihadist flags. The problem is that nothing remotely like what Breitbart described took place and just as the Swedes were recently surprised to find out they had been the victims of a terrorist attack that never took place, so were the Germans.
Just as many believe that Trump was elected on a web of fake news stories, ones like Pizzagate, where Hilary Clinton was linked to a child sex ring operating out of tunnels under a Washington area pizza restaurant, so many believe that the Brexit vote in Britain was built on the back of decades of tabloid press stories looking for a wild headline to sell stories.
In the United States a majority get their news from social media. Facebook is perhaps the largest online news source and yet it does very little to verify the accuracy of the stories that are promoted or read on it. Because they are seen as simple transmission pipelines social media companies have no legal responsibility for the content they carry.
Germany is about to change that and if it succeeds may very well bring credibility back to the online world. In mid-March the German government tabled a draft bill that would provide for fines as large as 50 million Euros for social media companies that fail to remove hate speech, fake news and other undesirable content within specified time limits.
Given the small amount of revenue that YouTube advertising generates for parent Google, the company is really suffering only from a public relations black eye. But in business, perception is everything. Social media companies claim that policing content is too expensive but with great profit come great social responsibility. The number of fake news stories appearing on Facebook spiked once its human editorial team was terminated and surveillance duties were given over to a computer program. Just as the prospect of hanging provides great concentration so does the prospect of large fines promote corporate change.
While the proposed German legislation may clean up the internet in Europe what affect it will have on North America is an open question. If we are very lucky, social media companies will realize that they have to act responsibly when it comes to fake news and hate and put in place here what they will shortly have to do if they wish to continue operating in Germany. If they do begin to act responsibly then credibility will be restored to the social media platforms that business has grown to depend on when it comes to getting their message to the right audience. If, on the other hand, the internet and social media platforms continue to become the hiding places of all we as a society despise then business will vote with its feet and find a new way to get their message across, perhaps through some form of closed network.
By Noel Meyer
- Published in Blog, News Home, Technology
Imex Systems Inc. (IMEX:tsxv): Business Update
Imex Systems Inc.: Business Update
Momentum Public Relations
Press Release: April 5th, 2017
Imex Systems Inc. (“Imex” or the “Company”) (TSX VENTURE:IMEX), a software solution provider to Governments, Municipalities and Public Authorities, is pleased to announce the following update to its business operations. The company’s flagship product is iGov, the most sophisticated Digital Government Platform in the market today.
The company expects to receive a minimum of $3 million Canadian in Q2, as the initial payment from the $19.51 million contract previously announced in December 2016. Remaining payments will be received over the course of the two year contract. Imex is finalizing all the terms with the Government of Botswana. The company anticipates additional contracts from Botswana as well after this rollout.
For the last 2 years, Imex has been working on developing international markets due to significant opportunities existing outside of North America.
The recent major contract announced by the company for implementation of eGovernment based on Imex iGov Digital Government Platform for the Government of Botswana, is an example of the Company’s success in international expansion efforts, which has created a pipeline of significant opportunities for the next few years.
Imex’s products have been well received by emerging countries in Asia, the Middle East, Africa and South America, which have ambitious programs for government modernization and implementation of eGovernment and Smart City initiatives. Imex’s Digital Government platform iGov and the Smart City Platform, iCity, have proven to be excellent candidates for these countries. Imex is in discussion with several state governments in India, which have the potential to be a significant market for Imex in the near term.
In developed markets such as Canada, the US, UK, and Australia, there has been a market shift towards cloud services to replace legacy eGovernment systems, which have been in place for the past 15-20 years. As a result, it is expected that such jurisdictions will undertake a digital transformation and implement a Digital First strategy, which is the basis of Imex’s iGov platform software solution.
Imex is rolling out cloud services for North America and has successfully piloted cloud offerings for several municipalities in Canada this year. Imex has developed an aggressive strategy to implement these solutions for at least 200 cities/towns in Canada and the US during the next 5 years, which includes enhancing the existing foothold in Ontario.
About Imex Systems
Imex Systems Inc. is a Canadian software products and solution provider to Governments, Municipalities and Public Authorities in Canada and internationally. Imex primarily focuses on the E-Government and Smart Cities market that include payments. It helps public sector entities to provide “Any Time, Any Where, Any Device and Any Channel” convenience for citizens to access government services and help with digital transformation of government operations and streamline revenue. Imex’s various product and service offerings include: iGov – a Digital Government Platform for all levels of governments, which provides all the pre-built components for building an effective Digital Government and supporting payment processing through multiple channels; iCity – a Smart City Solution; and miGov – a Mobile Government Framework.
- Published in Imex Systems, News Home, Technology
Mobi724 Global Solutions Inc. (MOS:CSE) Announces Bought Deal
Mobi724 Global Solutions Inc. Announces Bought Deal Financing
Momentum Public Relations
Press Release: April 04, 2017
Mobi724 Global Solutions Inc. (“Mobi724” or the “Company“) (CSE:MOS)(CSE:MOS.CN) – a Fintech leader offering all in one fully integrated EMV payment, card link couponing and digital marketing solutions, announces that it has entered into an agreement with GMP Securities L.P. (the “Underwriter“) for a “bought deal” private placement offering of special warrants of the Company (the “Special Warrants“) at a price per Special Warrant of $0.35 for aggregate gross proceeds of approximately $5 million (the “Offering“).
Each Special Warrant will entitle the holder thereof to receive and without payment of additional consideration, one (1) unit of the Company (each a “Unit” and collectively the “Units“) consisting of one (1) Common Share (each a “Unit Share“) and one-half of one (0.5) common share purchase warrant (each whole common share purchase warrant a “Warrant“). Each whole Warrant, subject to customary adjustments, shall be exercisable into one (1) Common Share (a “Warrant Share“) at an exercise price of $0.46 per Warrant Share for a period of two (2) years from the date of issue. If the volume weighted average price of the Common Shares on the CSE is equal to or greater than $0.65 for a period of 10 consecutive trading days then the Company may anytime thereafter accelerate the expiry date of the Warrants to the date that is 30 days following the date on which the Company issues notice to all the Warrant holders of the new expiry date. The Company will also issue a press release on the same date as it issues notice confirming the new expiry date of the Warrants.
The Company has agreed to use its reasonable commercial best efforts to obtain a receipt for a final short form prospectus qualifying the distribution of the Units upon exercise of the Special Warrants (the “Qualification Condition“) on or before the date that is 90 days following closing of the Offering (the “Qualification Deadline“). If the Prospectus Qualification does not occur before the Qualification Condition, each holder shall be entitled to receive, without payment of additional consideration, 1.05 Units per Special Warrant. Unless the Qualification Condition occurs, securities issued in connection with the Offering will be subject to a four-month hold period from the date of issue.
The closing of the Offering is subject to the completion of formal documentation, including but not limited to, the execution of an underwriting agreement with the Underwriter in connection with the Offering and receipt of any required regulatory approvals, including approval of the CSE. All securities issued pursuant to the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Closing of the Offering is expected to occur on or about April 18, 2017 or such other date as the Underwriter and the Company may agree.
The Company intends to apply to have its Common Shares listed on the TSX Venture Exchange. There can be no assurance that such a listing would occur.
Mobi724 intends to use the net proceeds of the Offering for general corporate purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For more information, please visit www.mobi724globalsolutions.com.
About Mobi724 Global Solutions
Mobi724, a leader in the fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of payment & digital marketing solutions with a combined EMV Payment, Card Linked Offers, and Digital Marketing platform that works on any card and any mobile device. Mobi724’s solutions add value to all types of transactions benefiting banks, retailers and cardholders by leveraging available user and purchasing data to increase transaction volumes and spend. Mobi724 provides a turnkey solution to its clients to capture card transactions on any mobile device, at any point of sale or from any payment card. Mobi724 provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to any mobile device and allow its redemption at any point of sales.
- Published in Financial Technology, Mobi724 Global Solutions, Mobile Technology, News Home, Technology
Renewable Energy Defining Point Reached As Economies of Scale Kick In And Tesla’s Elon Musk Bets He Can Save South Australia from Power Shortages
Renewable Energy Defining Point Reached As Economies of Scale Kick In And Tesla’s Elon Musk Bets He Can Save South Australia from Power Shortages
Are Cobalt Shortages In The Future?
Image source: WIRED
Tesla billionaire Elon Musk says he can install battery farm within 100 days or it’s free.
There’s more than just a little irony in the air these days. Just as Donald Trump plans to reduce energy efficiency standards for cars in the United States, a defining point in the history of renewable energy has been made in the form of a bet between billionaire Elon Musk and the State of South Australia. It is the moment that economies of scale kick in driving down and making the cost of grid scale renewable energy rollout feasible.
An energy crisis has been brewing for some time in sunny South Australia leading to blackouts and price spikes. As the debate raged on about how to solve it Musk stepped in during early March and offered to solve the problem by installing 100-300 MW hours of renewable energy electric grid scale battery storage within 100 days of signing the contract.
When Mike Cannon-Brookes tweeted to ask if Musk was serious Musk replied that if he couldn’t do it within 100 days of signing the agreement it would be free of charge. Cannon-Brookes was interested because he is Australian. He is also the co-founder of Silicon Valley start-up Atlassian which builds software development tools. Being Australian, Cannon-Brookes asked Tesla for a “mates rate.” Although contract figures have not been released Cannon-Brookes told the Australian media that Musk offered to almost halve the cost of the project.
Tesla has just finished building a battery farm in southern California that can provide 80 MW Hours of storage at a cost of $100 million in 90 days. Musk is a high-tech visionary who has made his visions pay. In February 2017 his net worth was calculated at $13.9 billion. He co-founded PayPal, Tesla Motors, Solar City and founded SpaceX, the commercial space transportation business.
Long a renewable energy advocate Tesla has built a second business in residential, commercial and electric grid storage batteries under the Tesla Powerwall banner and SolarCity, which he cofounded with a cousin to provide residential battery storage solutions. Musk has frequently noted that he is in the process of changing Tesla from a car company into a clean energy company. Tesla has also recently launched a roofing product designed to take the ugly out of solar panels by producing solar panel roofing shingles that look like slate, in a variety of attractive colours.
Musk’s ability to fulfill his promise to South Australia lies in the fact that on January 17th, 2017 Tesla’s Nevada Gigafactory, located near Reno, started production.
The Gigafactory has already supplied the batteries for a battery farm in southern California. Tesla has grid scale battery farm projects on the go in the UK, Connecticut, North Carolina, Hawaii and New Zealand. Only a third of the 4.9 million square foot Gigafactory which will cost $5 billion and is part of a partnership with Panasonic is up and running but by 2018 it will have doubled global lithium-ion battery production. Two of the most commonly used lithium-ion rechargeable batteries, including Tesla’s, use cobalt as part of the mix.
Large scale rollouts of solar, wind and water energy have been held back by the high cost of storing the electricity generated. Tesla’s Gigafactory and his consequent offer to South Australia are a game changer indicating that although battery storage costs have been falling for years, now they are about to tumble, thanks to economies of scale. It is estimated that Tesla’s lithium-ion batteries which also use nickel and cobalt are about a third less expensive than other batteries. This also means that the cost of electric vehicles and hybrids will begin to drop.
Last year IHS predicted the electric grid scale utility storage battery market to hit US$19 Billion during 2017. Taiyou Research predicts a US$ 30 Billion market in rechargeable Li-ion batteries by 2020.
If you don’t believe that clean energy will become a very viable industry in the near future you should bear in mind that if this year’s game changer is Tesla’s Gigafactory and the economies of scale that will play in strengthening the renewable energy rollout then last year’s may very well have taken place when Facebook founder Mark Zuckerberg, Virgin founder Sir Richard Branson, Linkedin founder Reid Hoffman, Amazon founder Jeff Bezos, HRH Prince Alwaleed bin Talal, Chairman of the Board of trustees, Alwaleweed Philanthropies, Saudi Arabia, among others announced the creation of a clean energy investment group, The Breakthrough Energy Coalition. The coalition is made up of 28 high net-worth entrepreneurs from ten different countries.
Entrepreneurs who have changed the fabric of modern life are already on board. Warren Buffet, through Berkshire Hathaway has invested US$1 Billion and Bill Gates is investing US$1 Billion of his personal money and US$2 Billion through the Bill and Melinda Gates Foundation in renewable energy.
Battery and cobalt demand won’t just be driven by smartphones and Tesla. According to Rockstone Research the Germans are building a battery factory twice as large as Tesla’s, the Chinese are building four that are bigger than the Nevada Gigafactory, the Japanese are building two and the South Koreans are building one.
Savvy retail investors may be wondering how to take part in this emerging market and one perspective may be to look at it as a commodity market. Lithium stocks went through a gold rush period a few years ago propelled by the rechargeable battery market and now thanks to the amount of cobalt in a car battery and in laptops and smart phones it looks as if cobalt is set to takeoff. The battery pack for Tesla Model S, for instance, contains an estimated 22.5 Kg of cobalt.
Another factor that comes into play is secure supply and ethical sourcing. The refined product market is largely controlled by China, which has a history of trade embargoes and tariff walls when it comes to protecting resources and products for itself. The majority of raw cobalt comes from the Democratic Republic of Congo where much of the mining is done by child workers.
Nobody wants to drive a car or use a cell-phone powered by child labour and so the hunt is on for ethically sourced, securely supplied cobalt. Elon Musk has said that he is going to source the raw materials for his batteries from North America. At the moment there are no producing cobalt mines in North America. Exploration, however, is being fast tracked. Cruz Cobalt is one of the junior mining companies that may benefit. Commodity research house CRU has predicted cobalt demand to rise by 16{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} annually through 2022.
The LME has predicted that by 2020 the amount of cobalt used in rechargeable batteries could equal the total amount refined in 2015.
In a recent press release announcing the acquisition of the Chicken Hawk Cobalt Prospect in Montana, Cruz Cobalt, (CUZ—TSXV, BKTPF—OTCBB, A2AG5M–FSE), Cruz Cobalt President James Nelson stated:
“This new prospect now makes 9 cobalt prospects within North America that Cruz has secured. Cruz has also secured one of the largest land packages, consisting of 4 separate cobalt prospects, all located in the Cobalt/Silver district of Ontario surrounding the city of Cobalt. Cobalt prices continue to trade to new 5 year highs and have been on a significant uptrend over the past 12 months. Cruz is fully funded to commence operations on all of its 9 cobalt prospects and management expects to be on the ground very shortly.” If Cruz is successful then early investors will benefit accordingly. As of March 17, CUZ traded at $0.205 and has a total of 55,065,386 shares and a market cap of $11,288,404.
Another promising Canadian company exploring for cobalt is Kings Bay, (TSXV: KBG) which over the last year has acquired five prospective cobalt properties, two in Newfoundland Labrador and three in Northern Quebec. Kings Bay was recently reported on in the Financial Post where CEO Kevin Bottomley stated that the company’s Lynx Lake project near Happy Valley Goose Bay had shown initial results with very high cobalt numbers. The company has recently acquired a highly prospective cobalt property on Trump Island in NL. Their three properties in Quebec were worked on by Falconbridge around 2000 and Bottomley describes them as having initial positive results. Bottomley was previously associated with mining incubator Zimtu Resources and as a result has access to a network of European investors eager to invest in Canadian resource projects. Kings Bay traded at $0.18 on March 17, 2017 and has 41 million shares and a market cap of $7 million.
By Noel Meyer
- Published in Blog, Cruz Cobalt, Energy, Green Technology, King's Bay, Mining, Technology