More news...MONTREAL, QUEBEC--(Marketwired - Feb. 20, 2017) - Marcel Vienneau ("Vienneau") the CEO of Mobi Global Solutions Inc. (CSE:MOS)(CSE:MOS.CN) ("Company" or "MOBI724") announces that on February 9, 2017, Vienneau acquired control over 7,365,920 common shares ("Common Shares") of the Company as the consideration received for the Company purchasing the remaining 49% in its subsidiary Mobi724 Solutions Inc. ("Solutions Inc.") Vienneau being part of the remaining 49% shareholders of Solutions Inc. which transaction occurred on October 28, 2015. The Company had initially acquired a 51% controlling interest in Solutions Inc. in July 2013. In the purchase of the remaining 49% in its subsidiary, the Company agreed to anti-dilution provisions with Solutions Inc. shareholders. Pursuant to the terms of the pre-defined anti-dilution provisions and agreements with those shareholders, the Common Shares acquired by Vienneau represents 5.6% of the issued and outstanding shares of the Issuer. Immediately after the acquisition, Vienneau currently holds 20,955,895 Common Shares representing 13.4% of the outstanding shares.
The Common Shares were acquired in the context of an acquisition by the Company of the remaining 49% shares of Solutions Inc. and not with a view of materially affecting control of the Company.
This press release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires a report to be filed under the Company's profile on SEDAR (www.sedar.com) containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Luc Charbonneau, CFO, at Mobi724 Global Solutions Inc, 257, Sherbrooke Street East, 4th Floor, Montreal, Quebec, H2X 1E3.
About Mobi724 Global Solutions
Mobi724 Global Solutions Inc. (CSE:MOS)(CSE:MOS.CN), a leader in the Fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of Payment & Digital Marketing solutions.