TTP Limited agreed to acquire Mobilum Pay Sp. z o. o. from Mobilum Technologies Inc. (CNSX:MBLM) for $0.25 million on May 7, 2023. As a continuation of its previously announced strategic planning initiatives, Mobilum's Board of Directors has approved the sale of Mobilum?s Polish subsidiary Mobilum Pay, along with its Lithuanian subsidiary, UAB Mobilum Tech, which is 100% owned by Mobilum Pay. TTP shall assume all existing liabilities in addition to paying the Company aggregate proceeds of $0.25 million consisting of an initial payment of $0.07 million and ten (10) subsequent monthly payments of $0.018 million. The closing of the transaction is subject to the receipt of all necessary regulatory approvals and approval of the Mobilum shareholders at a Special Meeting to be held on June 15, 2023. As of May 12, 2023, The Special Meeting is tentatively scheduled for June 12, 2023, but shall be no later than June 30, 2023. The Transaction represents a disposition of substantially all of the operating assets of the Company, and as a result approval of shareholders of the Company is required in accordance with the Business Corporations Act.

TTP Limited completed the acquisition of Mobilum Pay Sp. z o. o. from Mobilum Technologies Inc. (CNSX:MBLM) on May 31, 2023. The total consideration for this transaction is $0.43 million which consists of $0.25 million advance and $0.018 million in 10 monthly installments.