Mobi724 Global Solutions Inc. announced a non-brokered private placement of maximum of 30,000,000 units at an issue price of CAD 0.025 per unit gross proceeds of CAD 750,000 and unsecured convertible debenture of a maximum gross proceeds of CAD 750,000, for aggregate proceeds of up to CAD 1,500,000 on December 12, 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 here of 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 unsecured convertible debenture will have maturity date of 24 months from its issuance, bears interest at a rate of 15% per annum with capital and interest payable on the maturity date and is convertible at a price of CAD 0.10 per share. The securities issued pursuant to the offering shall be subject to a statutory hold period of four months and one day and completion of the offering remains conditional to the final approval of the TSX Venture Exchange.