Mobio Technologies Inc. Announces Completion of Acquisition of Karve IT Ltd.

Executive Summary

• Mobio Technologies Inc. completed the acquisition of 100% of Karve IT Ltd., issuing 2,861,538 Mobio common shares to Plank Ventures Ltd. in exchange for 310,000 Karve shares.
• Tracksuit Movers Inc., a wholly‑owned subsidiary of Mobio, transferred its 200,000 Karve shares to Mobio as a dividend‑in‑kind valued at $120,000.
• The transaction is non‑arm’s length but exempt from formal valuation and shareholder approval requirements because the fair market value is under 25% of Mobio’s market capitalization.

Key Details

• Closing Date: November 19 2025 (TSX Venture Exchange acceptance).
• Consideration to Plank Ventures Ltd.: Issuance of 2,861,538 Mobio common shares from treasury.
• Valuation of Plank’s Karve Shares: $186,000 total ($0.60 per share).
• Dividend‑in‑Kind Transfer: Tracksuit Movers Inc. transferred its 200,000 Karve shares to Mobio; valued at $120,000 ($0.60 per share).
• Resulting Ownership: Mobio now holds 100% of the issued and outstanding shares of Karve IT Ltd., becoming the sole direct shareholder.
• Karve Business Overview: British Columbia‑based SaaS developer specializing in CRM, franchise management, and field services software; flagship product “Move Right” deployed at 20 North American locations.
• Finder’s Fees: None paid.
• Regulatory Exemption: Transaction exempt from sections 5.5 and 5.7 of MI 61‑101 because fair market value < 25% of Mobio’s market cap.

Notable Quotes

(No direct quotes were provided in the release.)