Mobi724 Closes Third Tranche ($460,000) of a Loan from the Government of Quebec via Investissement Quebec Disclosed via News Release on June 23, 2021

Montreal, Quebec--(Newsfile Corp. - February 16, 2022) - Mobi724 Global Solutions Inc. (TSXV: MOS) ("Mobi724" or the "Company"), a fintech enabler of AI-enhanced payment card-linked solutions, announces the closing of a third and final tranche, in the amount of $460,000, of a loan, in the maximum amount of $2,300,000, from the Government of Québec through its mandatary Investissement Québec (the "Loan"); the Loan was announced by press release on June 23, 2021. The first tranche of the Loan ($1,150,000) was disbursed on June 30, 2021 and announced by press release on the same day; second tranche of the Loan ($690,000) was disbursed on October 26, 2022 and announced by press release on the same day.

Simultaneously with the disbursement of the third tranche of the Loan, the Company issued a convertible debenture to Investissement Québec in the amount of $460,000 (the "IQ Debenture No. 3") representing the amount of the third tranche of the Loan, the terms of which remain subject to final approval by the TSX Venture Exchange ("TSXV").

Investissement Québec may convert, at any time, during a period of 5 years, all or part of the IQ Debenture No. 3 into common shares of the Company, at a conversion price equal to the greater of the following amounts: (a) the prevailing market price of the shares on the day of the conversion less the maximum discount allowed by the rules of the TSXV, and (b) $0.05 if the conversion occurs during the first year (or $0.10 if the conversion occurs after the first year). The maximum number of common shares that may be issued following the conversion of the capital of the IQ Debenture No. 3 is 9,200,000 shares. The issuance of the IQ Debenture No. 3 is conditional upon final approval by the TSXV.

About Mobi724 Global Solutions Inc.

Make Every Transaction an Opportunity

Mobi724 Global Solutions Inc. (TSXV: MOS) is a fintech company that enables banks and merchants to offer their customers real-time payment card-linked incentives, in a white-label format. Mobi724's objective is to add a layer of AI-driven actionable intelligence to every payment transaction, creating engaging consumer experiences & generating incremental commercial opportunities to its clients.

Legal Disclaimer

Mobi724 cautions investors that any forward-looking statements or projections made by Mobi724 are subject to risks and uncertainties, that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 'Risk Factors and Uncertainties' in the Company's Management Discussion and Analysis, available on SEDAR.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE DOES NOT CONSTITUTE A SOLICITATION TO BUY OR SELL ANY SECURITIES IN THE UNITED STATES AND IS NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Investor Relations:

For further information, please visit www.MOBI724.com or contact:

Marcel Vienneau, CEO
Mobi724 Global Solutions Inc.
T: 514-394-5200 ir@mobi724.com

Nicole Piasentini, Investor Relations
NATIONAL Capital Markets
T: 647-382-9373 npiasentini@national.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113961