Mobilum Technologies Inc. announced a non-brokered private placement to issue 10% unsecured convertible 136 debentures at a price of CAD 1,000 per debenture for the gross proceeds of CAD 136,000 on April 13, 2023. The debentures are unsecured, mature 36 months from issuance, and are convertible into common shares at a price of CAD 0.05 per share at the option of the holder, at any time after the issue date and up to the last business day preceding the maturity date or if the company's current market price of its Shares equals or exceeds CAD 0.25 or automatically upon a change of control. The debentures pay interest at a rate of 10% per annum, accruing and calculated annually, The company may pay finders' fees in connection with the transaction.

The debentures will be subject to a statutory hold period as required under securities laws payable on the maturity date.