Mobi724 Global Solutions Inc. (MOS:CSE) Conversion of Debenture and Bona Fide Debt
Mobi724 Global Solutions Inc. (“Mobi724” or the “Company”) (MOS:CSE), a technology leader in the digital incentives, couponing and payment space, announces that on October 20th, 2015 the debenture of $1,900,000 issued between April and July 2014 (the “April-July 2014 Debenture”) was converted into common shares of the Company. The capital and interest accrued up to October 20th, 2015 of the April-July 2014 Debenture, which amounted to $2,190,507, were converted at a price of $1.00 per common share. Pursuant to the terms of the April-July 2014 Debenture each converted common share carries with it a ¾ purchase warrant with an exercise price of $1.45 which expires 24 months from the date of issuance. As a result of the aforementioned conversion, 2,190,507 common shares and 1,642,880.19 purchase warrants were issued.
The Company further announces that today it converted bona fide debts owing to its suppliers, employees, consultants and creditors (the “Interested Parties”) totalling $931,208.98 into common shares of the Company (the “Debt to Equity Transaction”) at an average conversion price of $0.17 per share. As a result of this Debt to Equity Transaction the Company issued 5,575,029 common shares to the Interested Parties.
About Mobi724 Global Solutions
Mobi724 Global Solutions (MOS:CSE), a corporation based in Montreal, Canada, is a technology leader whereas we offer a unique fully integrated suite of solutions – PAYMENT-COUPONING AND LOYALTY all in one.
Our vision is to leverage commoditized payment transactions with layers of intelligence on top of these transactions (smart transactions) and enhance their value for the players in this eco-system: customers, banks, mobile carriers and retailers in a seamless experience.
Mobi724 Global Solutions unleashes the true potential of both payment and couponing/rewards transactions for both online and offline points of sale.
The Corporation is fully dedicated to deliver unique “real time” and seamless digital promotional incentives (coupons including card linked coupons, bank cards, loyalty rewards) embedded into the most secured payment environment. The Corporation provides to its customers full and comprehensive traceability and enriched consumer data through its offering. Its solutions enable 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.
Their credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
Mobi724 PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.