MOBI724 Global Solutions (CSE:MOS) Closes $1.5 Million With Institutional Investor

MONTREAL, QUEBEC–(Marketwired – Sept. 2, 2016) – MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”) (CSE:MOS), a Fintech leader offering all in one fully integrated EMV payment, card link couponing and digital marketing is pleased to announce the closing of an unsecured convertible debentures (Convertible Debentures) with a large institutional investor for proceeds of $1,500,000. The Convertible Debentures will mature on June 30, 2018 (Maturity Date) and will accrue interest at a rate of 12% per annum. The Convertible Debentures shall be convertible at a price of $0.35 per common share. The Board has also agreed with the institutional investor to cancel an existing Convertible Debenture and to roll over the capital and interest in the amount of $1,205,566.03 into a new convertible debenture to be added to the new proceeds of $1,500,000 for an aggregate total of $2,705,566.03. The Convertible Debenture is sold pursuant to exemptions from prospectus requirements to purchasers in Canada and will not be listed on the Canadian Securities Exchange (CSE). The common shares issuable upon conversion will be listed on the CSE and will be subject to a four month hold period from the date of closing.