Non-brokered offering sells 18,667,033 units with half-share warrants
By Devika Patel
Knoxville, Tenn., July 9 – Mobio Technologies Inc. said it completed a C$1.4 million non-brokered private placement of units. The oversubscribed deal priced for C$1.28 million on June 20.
The company sold 18,667,033 units of one common share and one half-share warrant at C$0.075 per unit.
Each whole warrant is exercisable at C$0.17 for one year. The strike price is a 54.55% premium to the June 19 closing share price of C$0.11.
Proceeds will be used to enhance the company’s Mobio social media platform, to accelerate the “Be Social. Get Paid” revenue sharing platform for a broader audience of influencers and for general corporate purposes.
The Vancouver, B.C., company, previously known as LX Ventures Inc., operates a social network.
| Issuer: | Mobio Technologies Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1,400,028
|
| Units: | 18,667,033
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| Price: | C$0.075
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
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| Warrant strike price: | C$0.17
|
| Agent: | Non-brokered
|
| Pricing date: | June 20
|
| Stock symbol: | TSX Venture: MBO
|
| Stock price: | C$0.11 at close June 19
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