- Mobi724 Global ( OTCPK:MOBIF ) on Monday announced that it entered into a shares for debt agreements and is seeking approval from the TSX Venture Exchange, to pay off certain loans, unpaid salary and other fees.
- The debt will be converted by issuing 25,356,200 common shares at a price of C$0.025 in accordance with the Minimum Price Exception stipulated in TSXV.
- The company also announced that it is currently seeking to close a non-brokered private placement financing of common shares and an unsecured convertible debenture of up to C$1.5 million.
- The offering consists of the following two components: unit offering of 30,000,000 units at C$0.025 per unit and debenture offering of an unsecured convertible debenture of C$750,000.
For further details see:
MOBI724 Global seeks approval for shares-for-debt deal, announces private placement