Deal includes warrants for 20 million shares, exercisable at C$0.15
By Devika Patel
Knoxville, Tenn., Sept. 6 – Mobi724 Global Solutions Inc. said it has negotiated a C$1 million private placement of stock.
The company will sell 20 million common shares at C$0.05 per share. The price per share is a 16.67% discount to the Sept. 2 closing share price of C$0.06.
Investors will also receive warrants for 20 million shares. Each warrant is exercisable at C$0.15 until Aug. 31, 2018. The strike price is a 150% premium to the Sept. 2 closing share price.
Proceeds will be used to support solution deployments as well as for working capital requirements.
The Montreal company offers a suite of payment and digital marketing products.
| Issuer: | Mobi724 Global Solutions Inc.
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| Issue: | Common stock
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| Amount: | C$1 million
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| Shares: | 20 million
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| Price: | C$0.05
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| Warrants: | For 20 million shares
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| Warrant expiration: | Aug. 31, 2018
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| Warrant strike price: | C$0.15
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| Pricing date: | Sept. 6
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| Stock symbol: | CSE: MOS
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| Stock price: | C$0.06 at close Sept. 2
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| Market capitalization: | C$4.5 million
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