MOBI724 Global Solutions Inc. Announces Approved Extension of Convertible Debenture
MONTREAL, July 16, 2018 (GLOBE NEWSWIRE) -- MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”) (TSX-V:MOS) (OTCQB:MOBIF), a global Fintech company offering a fully integrated suite of multiple EMV payment Card-Linked, Digital Marketing and Business Intelligence Solutions announces that its debenture extension, previously announced in a press release dated June 29, 2018, has been approved by the TSX Venture Exchange (the “Exchange”).
The approval of the extension will extend the maturity date of a $2,705,566.03 at 12% interest bearing debenture which is convertible into common shares of the Company at $0.35 per share (the “Debenture”) that was originally issued on September 1, 2016. Pursuant to the approved application, the Exchange extends the maturity date until June 30, 2020.
The Company equally announces that Johnny Hawa, Co-founder of MOBI724 Solutions (Couponing) has been appointed as Chief Operating Officer (“COO”). Mr. Hawa has more than 25 years of experience in setting up organizations focused on sales and delivery. Mr. Hawa is a natural & successful entrepreneur backed by a solid 16 years career in Ericsson starting in Montreal where he serviced the American and Asian markets, followed by Spain to service Europe, the Middle East and Africa and finally out of Argentina to cover Latin America. Johnny has been responsible for several successful platform deployments during the rollout of the prepaid, IN and multimedia solutions in Asia, EMEA and Latam as part of the large Telecom networks rollout projects. His last mandate in Ericsson was to head the Multimedia & Systems Integration sales for Latin America. Mr. Hawa has a long track record in delivering quality solutions and services to the customers. For the past 5 years Mr. Hawa has been MOBI724's VP for Latam and Head of Operations in the same region securing the initial rollout of MOBI724's solutions in that region and ensuring a high level of customer satisfaction. Johnny is a Computers and Communications Engineer with an MSc. in Telecom.
Marcel Vienneau, CEO, MOBI724 stated: "We are pleased to have Johnny take on the responsibilities of COO as the Company enters into another important phase of its growth in North America, the Caribbean, LatAm and Asia. Johnny’s in-depth knowledge of the industry, and extensive experience with the Company, will ensure that we make steady progress towards our goals.”
This appointment is subject to TSX Venture Exchange approval.
About Mobi724 Global Solutions Inc.
“We enable smart transactions anywhere”
MOBI724, a global Fintech company, offers a fully integrated suite of multiple Payment Card-linked, Digital Marketing and Business Intelligence Solutions, which work with any payment card, on any mobile device and at any Point of Sale; and a mobile EMV compliant payment platform. MOBI724 provides turn-key solutions for card associations, card issuers, banks, retailers, manufacturers, offer providers, to create, manage, deliver and track and measure incentive campaigns worldwide in real time. The company captures value from big data to deliver seamless and personalized user experiences for the benefits of all parties in the ecosystem. MOBI724 headquarters are in Montreal, Canada, and the company presently has operations in North and Latin America, the Caribbean and Asia Pacific.
Certain statements in this document, including those which express management’s expectations or estimations with regard to the Company’s future performance, constitute “forward-looking statements” as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to the Company or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances.
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.
For further information, please visit www.MOBI724.com or contact:
Mr. George Aizpurua, Vice-President, Communications
First Canadian Capital Corp.
Mr. Derek Lindsay
MOBI724 Global Solutions Inc.
Chief Financial Officer
Released July 16, 2018