MOBI724 Global Solutions Inc. (OTC:MOBIF) has announced a warrant exercise incentive program, designed to encourage the exercise of 4,710,331 outstanding and unlisted warrants that were issued on January 27, 2017, at a price of $0.20.
MOBI724 is offering the warrant holders the possibility of subscribing to additional warrants. Warrant holders will be able to subscribe to additional warrants exercisable at $0.35 for each warrant exercised on or before December 15, 2017. These new warrants will be subject to a forced conversion by MOBI724 if the common shares trade at a price equal to or greater than $0.46 for at least 10 consecutive trading days, at any time prior to April 21, 2019.
The program offered will expire on December 15, 2017, at 5:00 pm EST, and any warrant not exercised on or prior to this date will also expire.
If all warrants are exercised, the gross proceeds to MOBI724 will represent $942,066.20.
Featured Image: twitter
