Mobio Announces Results of its Annual General and Special Meeting

Vancouver, B.C. – TheNewswire – August 19, 2020 – Mobio Technologies Inc. (TSXV:MBO) (“Mobio” or the “Company“) is pleased to announce the results of its annual general and special meeting of its shareholders held on August 18, 2020 (the “Meeting“) to consider and vote on, among other things, an amendment of the Company’s stock option plan, forgiveness of debt owed to the Company by Plank Ventures Ltd., a reporting issuer in British Columbia and Alberta and a former subsidiary of Mobio (“Plank“), fixing the number of directors, electing the directors and appointing the auditor.

Amendment of the Stock Option Plan

The shareholders approved by an ordinary resolutions with 99.99% of votes cast to amend the stock option plan of the Company by adopting a 10% “rolling” stock option plan (the “Stock Option Plan“), copy of which was provided to the shareholders in the management information circular dates July 15, 2020 (the “Circular“). The Stock Option Plan is subject to the approval of the TSX Venture Exchange.

Approval of the Debt Forgiveness

The shareholders approved by an ordinary resolution of disinterested shareholders to forgive $6,543,410 of an unsecured, non-interest-bearing debt owed by Plank to Mobio (the “Debt“), as described in the Circular. The resolution was approved by 99.99% votes of the disinterested shareholders present in person or represented by proxy at the Meeting.

Vote Results on Other Matters

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

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.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.

Copyright (c) 2020 TheNewswire – All rights reserved.

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