VANCOUVER, BC / ACCESSWIRE / April 24, 2023 / Mobilum Technologies Inc. ("Mobilum" or the "Company") (CSE:MBLM)(OTCQB:MBLMF)(FRA:C0B), a digital payment service provider that has been offering reliable and secure payment solutions to businesses and consumers, announces that, further to its news release dated April 13, 2023, the Company has closed a non-brokered private placement, raising aggregate gross proceeds of $136,000 in unsecured convertible debentures (the "Private Placement").

The Company has issued 136 debentures (the "Debentures") at a price of $1,000 per Debenture. The Debentures are unsecured, mature 36 months from issuance, and are convertible into common shares of the Company (the "Shares") at a price of $0.05 per Share at the option of a) the holder, at any time after the issue date and up to the last business day preceding the maturity date; b) the Company if the Company's current market price of its Shares equals or exceeds $0.25 or c) automatically upon a change of control.

The Debentures pay interest at a rate of 10% per annum, accruing and calculated annually, payable on the maturity date.

The Debentures are subject to a statutory hold period as required under securities laws, expiring on August 22, 2023. The net proceeds of the Private Placement will be used for general working capital purposes.

About Mobilum Technologies Inc.

Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF) (FRA:C0B) is a technology-driven Digital Service Provider (DSP) with a mission to make digital assets and cryptocurrencies accessible through traditional finance and payment infrastructure and digital asset management technologies, providing solutions for Exchanges, Wallets and Cryptocurrency Businesses, NFTs marketplaces, Protocols, Decentralized Applications and Decentralized Autonomous Organizations, Metaverse and Play-to-Earn games, and Traditional Finance Institutions (Banks, Hedge Funds, Insurance and Fintech companies) opening its doors to digital assets space. Our goal is to allow consumers around the world to convert fiat-to-crypto and crypto-to-fiat with Mobilum's on-ramp and off-ramp solutions. Mobilum has offices in Canada, Lithuania, Poland, and the United States. For further information go to www.mobilum.com.

Related Links

https://mobilum.com

For further information: please contact Mobilum Investor Relations via email at ir@mobilum.com

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

Contact Information:

Investor Relations
John Henderson, COO & Interim CFO
Phone: +1 (250) 809-5909
Email: IR@mobilum.com

SOURCE: Mobilum Technologies Inc.