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Mobi724 Announces Extension of Maturity Date of Convertible Debenture

V.MOS

Montreal, Quebec--(Newsfile Corp. - June 29, 2022) - Mobi724 Global Solutions Inc. (TSXV: MOS), a fintech enabler of AI-enhanced payment card-linked incentives, announces that it intends to seek approval from the TSX Venture Exchange (TSX-V) to extend the maturity date of a $4,376,663.19 interest bearing (6% per annum) debenture which is convertible into common shares of the Company at $0.26 per share (the "Debenture"). The Debenture was issued by way of a private placement on August 6, 2020 and matures on June 30, 2022. The Company and the holder of the Debenture have agreed to extend the maturity date of the Debenture to July 31, 2023 and during the 13-month extension period (namely from July 1st, 2022 to July 31, 2023) the Debenture shall not bear any interest. The proposed amendment to the Debenture is subject to the approval by the TSX-V.

About Mobi724 Global Solutions Inc.

Every Transaction is An Opportunity

Mobi724 Global Solutions Inc. (TSXV: MOS) is an AI powered fintech company which provides a platform, that enables banks and merchants to offer their customers real-time payment card-linked incentives, in a white-label format. Mobi724's objective is to add a layer of AI-driven actionable intelligence to every payment transaction, creating engaging consumer experiences & generating incremental commercial opportunities to its clients. Learn more at mobi724.com.

Legal Disclaimer

Mobi724 cautions investors that any forward-looking statements or projections made by Mobi724 are subject to risks and uncertainties, that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 'Risk Factors and Uncertainties' in the Company's Management Discussion and Analysis, available on SEDAR. Any forward-looking statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Mobi724 cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Mobi724's control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Mobi724 undertakes no obligation to publicly update or revise any forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE DOES NOT CONSTITUTE A SOLICITATION TO BUY OR SELL ANY SECURITIES IN THE UNITED STATES AND IS NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

For further information, please visit www.MOBI724.com or contact:

Investor Relations:

For further information, please visit www.MOBI724.com or contact:

Marcel Vienneau, CEO
Mobi724 Global Solutions Inc.
T: 514-394-5200 ir@mobi724.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129354

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