MOBI724 Announces Extension of Convertible Debenture

Mobi724 (TSXV:MOS), a global fintech company offering a fully integrated suite of multiple EMV payment card-linked, digital marketing and business intelligence solutions announced that its debenture extension has been approved by TSX Venture Exchange.

The company previously announced the extension on June 29, 2018 with the current approval of the extension will extend the maturity date of CS$2,705,566.03 at 12 percent interest until June 30, 2020.

As quoted in the press release:

Marcel Vienneau, CEO, MOBI724 stated: “We are pleased to have Johnny take on the responsibilities of COO as the Company enters into another important phase of its growth in North America, the Caribbean, LatAm and Asia. Johnny’s in-depth knowledge of the industry, and extensive experience with the Company, will ensure that we make steady progress towards our goals.”

The approval of the extension will extend the maturity date of a $2,705,566.03 at 12% interest bearing debenture which is convertible into common shares of the Company at $0.35 per share (the “Debenture”) that was originally issued on September 1, 2016. Pursuant to the approved application, the Exchange extends the maturity date until June 30, 2020.

The Company equally announces that Johnny Hawa, Co-founder of MOBI724 Solutions (Couponing) has been appointed as Chief Operating Officer (“COO”). Mr. Hawa has more than 25 years of experience in setting up organizations focused on sales and delivery. Mr. Hawa is a natural & successful entrepreneur backed by a solid 16 years career in Ericsson starting in Montreal where he serviced the American and Asian markets, followed by Spain to service Europe, the Middle East and Africa and finally out of Argentina to cover Latin America. Johnny has been responsible for several successful platform deployments during the rollout of the prepaid, IN and multimedia solutions in Asia, EMEA and Latam as part of the large Telecom networks rollout projects. His last mandate in Ericsson was to head the Multimedia & Systems Integration sales for Latin America. Mr. Hawa has a long track record in delivering quality solutions and services to the customers. For the past 5 years Mr. Hawa has been MOBI724’s VP for Latam and Head of Operations in the same region securing the initial rollout of MOBI724’s solutions in that region and ensuring a high level of customer satisfaction. Johnny is a Computers and Communications Engineer with an MSc. in Telecom.

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