Vancouver, B.C. – September 25, 2025 – TheNewswire - Mobio Technologies Inc. (TSXV: MBO) (“Mobio” or the “Company”) is pleased to announce that it has entered into a binding share purchase agreement to acquire 310,000 of the issued and outstanding common shares of Karve IT Ltd. (“Karve”) from Plank Ventures Ltd. (“Plank”) by way of issuance of 2,861,538 common shares in the capital of the Company to Plank (the “Acquisition”). Concurrently, Tracksuit Movers Inc. (“Tracksuit”), a wholly owned subsidiary of Mobio, will transfer all of its investment in Karve consisting of 200,000 common shares in the capital of Karve to Mobio by way of dividend in kind. It is anticipated that upon closing of the Acquisition, Mobio will hold directly 100% of the issued and outstanding shares of Karve, making it the sole direct shareholder of Karve.

Karve is a British Columbia software development company operating under SaaS business model. Karve specializes in developing customer relationship management, franchise management and field services software which enables operational scalability and data driven workflows. Karve’s flagship product Move Right is in use across 20 locations in North America.

Completion of the Acquisition is subject to acceptance by the TSX Venture Exchange. The Acquisition cannot close until the required TSX Venture Exchange acceptance is obtained. There can be no assurance that the Acquisition will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the news release in connection with the Acquisition, any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon.

Transaction Details:

Proposed Closing Date: September 30, 2025, or a latter date as determined upon TSX Venture Exchange acceptance of the Acquisition (the “Closing Date”).

Dividend in Kind: Tracksuit will transfer its 200,000 shares in Karve to Mobio by way of dividend in kind on the Closing Date. Tracksuit’s shares in Karve have been valued at $120,000, or $0.60 per share.

Share Exchange: Mobio has entered into a share purchase agreement with Plank whereby Mobio will acquire Plank’s investment in Karve consisting of 310,000 common shares, in exchange for the issuance of 2,861,538 common shares of Mobio from treasury. Plank’s shares in Karve have been valued at $186,000, or $0.60 per share, and the number of Mobio shares to be issued to Plank was determined at the market price closest to the date of the purchase agreement.

Finder’s Fees: No finder’s fees are payable in connection with the Acquisition.

Non-Arm’s Length Transaction: The Acquisition is considered a non-arm’s length transaction as Mobio and Plank have common control and management.  The Acquisition is exempt from the formal valuation and shareholder approval requirements pursuant to sections 5.5 and 5.7 respectively of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions because the fair market value of the transaction does not exceed 25% of market capitalization of Mobio.

The Company also announces that its board of directors had resolved to change the Company’s financial year end from December 31 to September 30. The change in financial year-end has been made to align with auditor availability while also maintaining quarterly financial reporting periods to be the same as those of its operating subsidiaries, thereby facilitating the consolidation of its financial statements.

Tracksuit Movers Inc., a private company and the operating subsidiary of Mobio, also changed its financial year end from December 31 to September 30.

Further details regarding the change in financial year-end, including the Company's length and ending dates of the Company's financial reporting periods, its interim and annual financial statements to be filed for the Company's transition year and its new financial year, will be available in the Company's Notice of Change of Year-End prepared in accordance with Section 4.8 of National Instrument 51-102, and filed on the Company's SEDAR+ profile, available at www.sedarplus.ca.

About Mobio Technologies Inc.

Mobio Technologies Inc. (MobioBrands.com), a TSX Venture Exchange-listed company (TSXV: MBO), is actively building a leading portfolio of moving and moving-related service brands, united by a dedication to quality, integrity, and exceptional customer experiences. As a public company, Mobio strategically invests in both moving services and technology solutions, aiming to provide homeowners, businesses, and entrepreneurs with a trusted, seamless network for all moving and relocation needs.

 

For additional information, please contact:

 

Laurie Baggio, CEO

Tel: 604-805-7498

Email: Investors@MobioBrands.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 completion of the Acquisition, 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: www.sedarplus.ca.

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.