Mobi724 Global Solutions Closes Last Portion of Acquisition with Former Shareholders of I.Q. 7/24

Mobi724 Global Solutions (CSE:MOS) has announced it has renegotiated the terms of the balance of sale of the acquisition of its wholly owned subsidiary, I.Q. 7/24 and paid former IQ shareholders $800,000 in cash, issued just under 3.5 million shares at $0.355 each for $1.24 million.
As quoted in the press release:

The total aggregate value of the renegotiated terms of the balance is $3,099,937 in Canadian dollars. After the aforesaid payment in cash and the issuance of the Shares, a final payment in the amount of $1,059,937 will be payable by September 10, 2017.
Marcel Vienneau, the CEO of the Company said, “We are very content with the outcome of the renegotiated terms as it will bring value to the Company. The renegotiated terms gives the Company the opportunity save approximately 2M dollars on the purchase Price which is a huge benefit to the Company and its shareholders. Both parties win as IQ724 gets their shares now and will benefit from the value created forward as we both focus on value creation. There are multiple synergies that will be acted upon now; there are many opportunities to grow this vertical from our global reach and mostly leverage IQ724 expertise and solutions for payment card issuers globally.” “We at iQ724 are excited and look forward to the next stage of our relationship with MOBI724 and that is leveraging our complimentary skill sets and technological advancements to generate innovative and profitable solutions for our customers,” said Daniel Tardif, President of iQ724.

Click here to read the full press release.