December 18, 2015 - VANCOUVER, BRITISH COLUMBIA – Mobio Technologies Inc. (TSXV: MBO; OTCQX: MBIOF), (“Mobio” or the “Company”) is pleased to announce that it has signed a Letter of Intent with respect to the recapitalization of Twenty Year Media Inc. (“Twenty Year Media” or “TYM”). Twenty Year Media is a media and technology company controlled by Mobio, and is developing advanced technologies for the entertainment and motion picture sector, as well as operating Emerging Pictures, a US-based all-digital film and content distribution network.
Under the terms of the Letter of Intent, TYM will conduct a financing through which it will raise approximately $400,000. TYM will also enter into an agreement whereby TYM will pay to Mobio a monthly payment of $5,000 per month for a period of 24 months, and thereafter pay Mobio a monthly payment of $10,000 for an additional 12 months. In addition, TYM will pay Mobio a royalty of 3% on revenues for a period of four years. Concurrently, the management team of Twenty Year Media will acquire approximately 28% of TYM’s issued and outstanding shares from Mobio.
“The recapitalization of Twenty Year Media provides access to the capital necessary for TYM to continue the aggressive development of its business, while giving management an increased level of direct exposure to the success of TYM,” said Michael Edwards, CEO of Mobio. “Both Mobio and TYM are positioned for success as a result of this series of transactions.”
The transactions described in the Letter of Intent are expected to close in mid-January, 2016, and remain subject to the approval of the TSX Venture Exchange.
Mobio is a publicly traded company on the TSX-V and the OTCQX, headquartered in Vancouver, BC. Mobio is the parent company to Strutta and Twenty Year Media. 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 & campaigns for global brands. Twenty Year Media is a media and technology company developing advanced technologies for the entertainment and motion picture sector. Twenty Year Media owns and operates Emerging Pictures, a US-based all-digital film and alternative content distribution network. Using data and social media analysis together with seamless digital delivery to theaters, Emerging Pictures enables content owners and exhibitors to be more effective and innovative in their distribution strategies and programming decisions. Emerging Pictures works with content and data partners such as Sony Pictures Classics, The Weinstein Company, Magnolia Pictures, IFC Films, and Vimeo to maximize the value of their content. For more information visit http://www.mobio.net.
For additional information contact: Etienne Moshevich Transcend Resource Group, Investor Relations Tel: 604-681-0084 email@example.com
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.
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.