(TheNewswire)
Vancouver, B.C. / TheNewswire / August 29,
2018 – Mobio Technologies Inc. (TSXV: MBO) (“Mobio” or the “Company”) is pleased to announce a plan of
arrangement with its subsidiary 0968998 B.C. LTD (“Subco”) whereby the Company will transfer
the assets (the “Assets”), being the investments into various business into Subco by way of a plan of arrangement (the
“Arrangement”) pursuant to Division 5 of Part 9 of the Business Corporations Act (British Columbia).
The purpose of the Arrangement is to allow the Company to divest itself of the Assets to Subco,
enabling the Company to focus on business of running the technology business of Strutta.com Media Inc. It is expected that Subco
will have a diversified management team, with special focus on the business of an investment company. The Arrangement permits
Subco to raise capital and acquire additional assets on its own from the date of the Arrangement Agreement dated for reference
August 28, 2018 (the “Arrangement Agreement”) until and after the Arrangement is approved.
The Arrangement is subject to the approval by the shareholders of the Company, the TSXV and the Supreme Court of
British Columbia.
If approved, the Arrangement will result in the shareholders of the Company receiving one common
share of Subco with respect to every one common share of the Company as of the share distribution record date which will be
determined by the board of directors of the Company and announced by way of a separate news release. There will be no change
in shareholders’ holdings in the Company as a result of the Arrangement. No outstanding warrants or options of the Company will be
transferred over to Subco. Subco will become a reporting issuer in British Columbia and Alberta.
Full details of the proposed Arrangement will be provided in a Management Information Circular that
will be mailed to all the shareholders of the Company. The Arrangement Agreement will be available on www.sedar.com under the
profile of the Company.
About Mobio Technologies Inc.
Mobio is a publicly traded company on the TSX Venture Exchange, headquartered in Vancouver, BC, and runs Strutta.com
Media Inc. 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 and campaigns for global
brands. For more information visit www.mobio.net.
For additional information contact:
Laurie Baggio, CEO Tel: 604-805-7498 ir@mobio.net
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.
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