MOBI724 Global Solutions Inc.’s (CSE:MOS) Authorizes an Unsecured Convertible Debenture for New Proceeds of up to $1,500,000
– Momentum Public Relations –
Press Release: August 31, 2016
MOBI724 Global Solutions Inc. (“MOBI724”) (CSE:MOS) announces that the Board of Directors have approved the terms of a financing according to which the Company would issue an unsecured convertible debenture (Convertible Debenture) for new proceeds of up to $1,500,000 to an existing institutional investor which is set to close on September 1st, 2016. The Board has also agreed with the institutional investor to cancel an existing Convertible Debenture and to roll over the capital and interest in the amount of $1,205,566.03 into a new convertible debenture to be added to the new proceeds of $1,500,000 for an aggregate total of $2,705,566.03. The Convertible Debenture will mature on June 30, 2018 (Maturity Date) and will accrue interest at a rate of 12{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per annum. The Convertible Debentures shall be convertible at a price of $0.35 per common share. The Convertible Debenture will be sold pursuant to exemptions from prospectus requirements to purchasers in Canada and will not be listed on the Canadian Securities Exchange (CSE). The common shares issuable upon conversion will be listed on the CSE and will be subject to a four month hold period from the date of closing. For more information, please consult the form 9 filed on the CSE website as required by CSE policies.
About Mobi724 Global Solutions
MOBI724 Global Solutions Inc. (CSE:MOS), a leader in the Fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of Payment & Digital Marketing solutions.
We are innovating in our market with a combined EMV Payment, Card Linked Offers, and Digital Marketing platform that works on any card and any mobile device. We pioneered in adding intelligence to all types of transactions benefiting banks, retailers and cardholders. We succeed in leveraging all 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. Our easy-to-adapt gateway Switch is designed for easy integration with all payment protocols in our target markets.
Within the same solution suite we combined our Card Linked Offers solution, and provided financial institutions´ payment card portfolios and retailers the ability to add offers and/or coupons which can be redeemed directly at the Point of Sale, in a seamless user experience for all the parties in the eco-system.
MOBI724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale (POS).
The Corporation 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.
Our 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’s 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.
For more information on its products and on MOBI724 Global Solutions, visit www.mobi724globalsolutions.com.