Vancouver, B.C. – TheNewswire - April 2nd, 2025 – Mobio Technologies Inc. (TSXV: MBO) (“Mobio” or the “Company”) is pleased to announce the results of its special general meeting of shareholders held on March 31, 2025 (the “Meeting”).

Approval of the Proposed Qualifying Transaction

The disinterested shareholders approved the proposed qualifying transaction involving Tracksuit Movers Inc., Mobio and the shareholders of Tracksuit Movers Inc.  (the “Transaction”), pursuant to the terms and conditions set out in the Share Exchange Agreement dated for reference February 14, 2025. The Transaction is described and the full text of the resolution approving the Transaction is provided in the management information circular dated February 24, 2025 (the “Circular”).

Approval of the Non-Arm’s Length Non-Brokered Private Placement

The disinterested shareholders approved a resolution for a non-arm’s length non-brokered private placement to raise gross proceeds of up to $1,800,000. The funds will be raised from related parties through the issuance of common shares of the Company, priced at $0.20 per one common share, as more particularly described in the Circular.

Approval of the Conversion of Non-Arm’s Length Outstanding Loans

The disinterested shareholders approved a resolution to convert the non-arm’s length outstanding loans payable, with a gross outstanding balance of $1,427,389, into common shares of the Company, priced at $0.20 per one common share, as more particularly described in the Circular.

Approval of the Stock Option Plan

The shareholders re-approved the Company’s Stock Option Plan dated for reference April 5, 2024. The Stock Option Plan is a 10% rolling plan. The full text of the Stock Option Plan is provided in the Circular, which is available on www.sedarplus.ca under the profile of the Company.

Vote Results on Other Matters

Other matters before the Meeting are described more fully in Circular. The shareholders voted to fix the number of directors at five, elect Laurie Baggio, Brian O’Neill, Melanie Pump, Lance Tracey, and Josh Herron to the board of directors of the Company, and re-appoint Dale Matheson Carr-Hilton LaBonte LLP, Chartered Professional Accountants, as auditors of the Company for the ensuing year.

 

Excluded shareholders

Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) provides that, a related party transaction is subject to “minority approval” (as defined in MI 61-101, being a simple majority of the votes (50% + 1) cast by “minority” shareholders of each class of affected securities (as defined in MI 61- 101)), unless an exemption is available or discretionary relief is granted by applicable securities regulatory authorities. In relation to the approval of the Transaction, “minority approval” requires the approval of a simple majority (50% + 1) of the holders of Mobio Shares present at the Meeting, other than Mobio Shares beneficially owned, or over which control or direction is exercised by: (a) the issuer; (b) an “interested party” (as defined in MI 61- 101); (c) a “related party” to such interested party within the meaning of MI 61-101 (subject to certain exceptions); and (d) any person that is a joint actor with any party referred to in (b) or (c).

The votes in respect of Mobio Shares owned by, or over which control or direction is exercised, directly or indirectly, by related parties to the Transaction were excluded for the purposes of determining “minority approval” for the Transaction under MI 61-101. Total of 22,634,767 of Mobio shares were excluded from voting for this purpose.

The Transaction is subject to the final acceptance by the TSX Venture Exchange and cannot be completed until the final acceptance is received.

 

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

ir@mobio.net

 

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.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.