Mobi724 Provides Update Regarding Acquisition Transaction

·1 min read

Montreal, Quebec--(Newsfile Corp. - July 5, 2022) - Mobi724 Global Solutions Inc. (TSXV: MOS) ("Mobi724" or the "Company"), a fintech enabler of AI-enhanced payment card-linked incentives, wishes to provide an update regarding its proposed acquisition of Avenida Compras (the "Transaction") which the parties had intended to close by June 30, 2022. Given the existence of certain adverse conditions in the capital markets, the parties were not able to close the Transaction prior to the aforementioned date. Although the Acquisition will not be completed in the manner detailed in Mobi724's News Release of March 2nd, 2022, the parties pursue their discussions with a view towards better aligning the terms of a potential acquisition with the capital resources of the Company and the prevailing capital markets. In the interim, the Parties continue to work closely within the parameters of the strategic alliance that they entered into in November 2020.

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/130044

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