Vancouver, B.C. / TheNewswire / January 3, 2019 - Mobio Technologies Inc. (TSXV: MBO) ("Mobio" or the "Company") is pleased to announce the results of its annual general and special meeting (the "Meeting") of the shareholders (the "Mobio Shareholders") of common shares, held December 31, 2018 to consider and vote on, among other things, the previously announced plan of arrangement (the "Arrangement").
Approval of Arrangement
The shareholders approved by a special resolution the Arrangement under Division 5 of Part 9 of the B of the Business Corporations Act (British Columbia) between the Company, the shareholders of the Company and the Company's wholly-owned subsidiary Plank Ventures Ltd. (formerly 0968998 B.C. LTD.) ("Plank") with 99.94% of the votes cast by Mobio Shareholders present in person or represented by proxy at the Meeting voting in favour of the Arrangement which exceeds the 66.66% threshold required to approve the Arrangement.
Update on Timing of Completion of Arrangement
Completion of the Arrangement is subject to the receipt of a final order of the Supreme Court of British Columbia, which is expected to be sought on January 8, 2019. On closing of the Arrangement, each Mobio Shareholder will continue to be a shareholder of the Company and each Mobio Shareholders as of the share distribution record date will receive one Plank common share with respect to every one Mobio common share. The share distribution record date will be announced in advance by a separate news release. Plank will become a reporting issuer in British Columbia and Alberta.
Details of the Arrangement are set out in the management information circular of the Company dated November 20, 2018 (the "Circular") and the news release dated December 3, 2018 regarding the correction to the Circular available under the Company's corporate profile on SEDAR (www.sedar.com).
Vote Results on Other Matters
Other matters before the Meeting are described more fully in the Circular. Mobio Shareholders voted to fix the number of directors at three and to appoint Dale Matheson Carr-Hilton LaBonte LLP, Chartered Professional Accountants as auditors of the Company for the ensuing year. Laurie Baggio, Derek Lew and Michael Edwards were re-elected to the board of directors of the Company. The shareholders of the Company also approved the share option plan of Plank as described in the Circular.
About Mobio Technologies Inc.
Mobio is a publicly traded company on the TSX Venture Exchange, headquartered in Vancouver, BC, and runs Strutta.com Media Inc. Strutta is a social promotions platform that helps marketers bring potential customers from stranger to fan to customer, and Strutta's Promotions API provides a technology platform that facilitates social media competitions and campaigns for global brands. For more information visit www.mobio.net.
For additional information contact:
Laurie Baggio, CEO Tel: 604-805-7498 email@example.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of Mobio are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Mobio are those risks described herein and from time to time, in the filings made by Mobio with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedar.com.
Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.