July 22, 2016 - VANCOUVER, BRITISH COLUMBIA – Mobio Technologies Inc. (TSXV: MBO; OTCQX: MBIOF), (“Mobio” or the “Company”) is pleased to announce that it intends to conduct a non-brokered private placement in which it will raise up to $400,000 through the issuance of units of the Company at a price of $0.035 per unit (the “Private Placement”). Each unit will consist of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at a price of $0.075 for a period of 24 months from closing of the Private Placement.
The Company will utilize the proceeds of the private placement to pay salaries, office rent, regulatory fees, audit fees and other operating costs. Assuming the Private Placement is fully- subscribed, the Company anticipates that approximately $260,000 will be expended on the Company’s current business operations, $110,000 on regulatory, filing, legal, and audit fees, and the balance available for immediate accounts payable.
All securities issued in connection with the Private Placement will be subject to a four-month- and-a-day hold period. The Private Placement remains 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 firstname.lastname@example.org
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.