December 5, 2014 - VANCOUVER, BRITISH COLUMBIA – Mobio Technologies Inc. (TSXV:MBO; OTCQX:MBIOF), (“Mobio” or the “Company”) is pleased to announce that it has signed a definitive agreement with Red Thread Media Limited (“RTM”), a UK based technology company, to recapitalize 0968998 BC Ltd., the Company’s wholly owned subsidiary which operates the Mobio INsider platform. (“INsider”).
Under the agreement, RTM will acquire 0968998 BC Ltd. by completing an equity financing of approximately C$900,000 to fund the further development and marketing of the INsider platform, and RTM will commence making the following payments to the Company:
RTM has agreed to complete a going public transaction with an AIM listed company, pursuant to which the Company’s preferred shares of RTM will be exchanged for listed shares of the public company.
“RTM is excited to build upon the potential of INsider. The platform has fantastic opportunities in the connection economy”, commented RTM CEO Andrew Graham. “We believe that monetizing international traffic will grow RTM into a premiere digital media company. We are planning to add key functionality to the INsider platform, including Android and iOS applications, advanced geo-targeting of content, a native advertising platform, search engine optimization, and improving upon design to enhance the overall user experience and monetization opportunities.”
“The Mobio Technologies team is very happy with the outcome of this transaction,” said Mike Edwards, CEO of Mobio. “The transfer of INsider results in significant new expertise and resources being devoted to the platform that will take it to the next level, while providing the Company with compelling financial upside. Further, the transaction will allow us to directly focus on the opportunities present in the Strutta Social Promotions Platform going forward, increasing our footprint in the expansive Social Media Marketing sector.”
Mobio Technologies is the parent company of Strutta, a social promotions platform that helps marketers bring potential customers from stranger to fan to customer. Strutta’s Promotions API provides a technology platform that facilitates social media competitions & campaigns for global brands. Mobio also has a significant interest in the INsider platform, a social network that allows influencers to monetize high rates of fan engagement. Mobio Technologies is a publicly traded company on the TSX-V and the OTCQX, headquartered in Vancouver, BC. To learn more, visit 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 Technologies 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 Technologies are those risks described herein and from time to time, in the filings made by Mobio Technologies with Canadian securities regulators. Those filings can be found on the Internet at: 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.