Mobi724 Global Solutions Inc. announced a non-brokered private placement financing maximum of 20,000,000 units of the company at a price of CAD 0.025 per unit for aggregate proceeds of up to CAD 500,000 on August 3, 2022. Each unit is comprised of one common share of the company and one common share purchase warrant of the company. Each whole warrant entitles the holder thereof to purchase one common share for a period of 5 years after the closing date at a price of CAD 0.05 per warrant share.

The securities issued pursuant to the transaction shall be subject to a statutory hold period of four months and one day and completion of the transaction remains conditional to the final approval of the TSX Venture Exchange.