MONTREAL, Dec. 20, 2017 (GLOBE NEWSWIRE) -- MOBI724 Global Solutions Inc. ("MOBI724" or the "Company") (CSE:MOS) (OTCQB:MOBIF), a Fintech leader offering all in one fully integrated EMV payment, Card-Linked Offers, Digital Marketing and Business Intelligence Solutions, announces that it has issued an aggregate of 1,097,725 common Shares at a price of $0.20 as debt forgiveness related to unpaid salary owed to Mr. Johnny Hawa, a senior officer of the Company. The participation of Mr. Hawa in the debt settlement constitutes a "related party transaction" as such terms are defined by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), requiring the Company, in the absence of exemptions, to obtain a formal valuation for, and minority shareholder approval of, the "related party transaction". The Company is relying on an exemption from the formal valuation requirements of MI 61-101 available because the fair market value of the participation in the debt settlement by the Related Parties does not exceed 25% of the Company's market capitalization, as determined in accordance with MI 61-101. The participation by the Related Parties in the debt settlement, as applicable, was approved by directors of the Company who are independent in connection with such transactions.

Warrant Issuance pursuant to Incentive Program

The Company announces that pursuant to the warrant exercise incentive program announced on December 6^th, 2017 (the "Program"), 1,041,666 common share warrants (which had been issued on January 27, 2017) were exercised at $0.20 per share resulting in gross proceeds to the Company of $208,333.20. In light of this, and in accordance with the terms of the Program, the Company has issued 1,041,666 common share purchase warrants at an exercise price of $0.35 expiring on April 21^st, 2019 (the “New Warrants”). The New Warrants are subject to a forced conversion by the Company if, at any time prior to April 21^st, 2019, the common shares of the Company trade at a price equal to, or greater than, $0.46 for at least ten (10) consecutive trading days.   

Options

The Company also announces that on December 20^th, 2017 it granted 2,886,000 stock options under its stock option plan to its directors and consultants. The Directors were granted 920,000 options, which will vest gradually over a period of three years (the first 1/3 vesting on the granting date, 1/3 twelve months after the granting date and the balance, twenty-four months from the granting date), and will allow the holder of the stock option to acquire one common share of the Company per option granted at a price of $0.35 until October 16^th, 2022. The Consultants were granted 400,000 options, which will vest gradually over a period of 3 years (the first 1/3 vesting on the granting date, 1/3 twelve months after the granting date and the balance, twenty months from the granting date), and will allow the holder of the stock option to acquire one common share of the Company per option granted at a price of $0.35 until November 28^th, 2020. The 916,000 and 650,000 options granted to Stephane Boisvert will vest immediately and will allow the latter to acquire one common share of the Company per option granted at $0.35 and $0.50 respectively. The 916,000 options will expire on December 4^th, 2018 and the 650,000 options will expire on October 16^th, 2018. Additional details may be found on Form 11 filed with the CSE on December 20^th, 2017.

About Mobi724 Global Solutions Inc.
“We enable smart transactions anywhere”

MOBI724, a leader in the Fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of payment, digital marketing and business intelligence solutions with a combined EMV Payment, Card Linked Offers, Digital Marketing & Business Intelligence platform that works on any card and any mobile device. MOBI724's solutions add value to all types of transactions benefiting banks, retailers and cardholders by leveraging available user and purchasing data to increase transaction volumes and spend. MOBI724 provides a turnkey solution to its clients to capture card transactions on any mobile device, at any point of sale or from any payment card. MOBI724 provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and "track and measure" incentive campaigns worldwide to any mobile device and allow its redemption at any point of sales.

Legal Disclaimer

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.

The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy. This news release does not constitute a solicitation to buy or sell any securities in the United States.

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

Investor Relations:
Mr. Andreas Curkovic
Proconsul Capital Ltd.
T: 416-577-9927;
E: [email protected]