MONTREAL, QUEBEC--(Marketwired - Feb 20, 2017) - Marcel Vienneau ("Vienneau") the CEO of Mobi Global Solutions Inc. (CSE:MOS)(MOS.CN) ("Company" or "MOBI724") announces that on February 9, 2017, Vienneau acquired control over 7,365,920 common shares ("Common Shares") of the Company as the consideration received for the Company purchasing the remaining 49% in its subsidiary Mobi724 Solutions Inc. ("Solutions Inc.") Vienneau being part of the remaining 49% shareholders of Solutions Inc. which transaction occurred on October 28, 2015. The Company had initially acquired a 51% controlling interest in Solutions Inc. in July 2013. In the purchase of the remaining 49% in its subsidiary, the Company agreed to anti-dilution provisions with Solutions Inc. shareholders. Pursuant to the terms of the pre-defined anti-dilution provisions and agreements with those shareholders, the Common Shares acquired by Vienneau represents 5.6% of the issued and outstanding shares of the Issuer. Immediately after the acquisition, Vienneau currently holds 20,955,895 Common Shares representing 13.4% of the outstanding shares.
The Common Shares were acquired in the context of an acquisition by the Company of the remaining 49% shares of Solutions Inc. and not with a view of materially affecting control of the Company.
This press release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires a report to be filed under the Company's profile on SEDAR (www.sedar.com) containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Luc Charbonneau, CFO, at Mobi724 Global Solutions Inc, 257, Sherbrooke Street East, 4th Floor, Montreal, Quebec, H2X 1E3.
About Mobi724 Global Solutions
Mobi724 Global Solutions Inc. (CSE:MOS)(MOS.CN), a leader in the Fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of Payment & Digital Marketing solutions.
We are innovating in our market with a combined EMV Payment, Card Linked Offers, and Digital Marketing platform that works on any card and any mobile device. We pioneered in adding intelligence to all types of transactions benefiting banks, retailers and cardholders. We succeed in leveraging all 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. Our easy-to-adapt gateway Switch is designed for easy integration with all payment protocols in our target markets.
Within the same solution suite we combined our Card Linked Offers solution, and provided financial institutions´ payment card portfolios and retailers the ability to add offers and/or coupons which can be redeemed directly at the Point of Sale, in a seamless user experience for all the parties in the eco-system.
MOBI724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale (POS).
The Corporation 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.
Our credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
MOBI724's PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.
For more information on its products and on MOBI724, visit www.mobi724globalsolutions.com
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.