Mobio Technologies closes Karve IT acquisition

Executive Summary

• Mobio Technologies Inc. completed the acquisition of 100% of the issued and outstanding shares of Karve IT Ltd., a British Columbia-based SaaS software developer.
• The transaction was structured as a share exchange and a dividend in kind, resulting in Mobio holding all shares of Karve.
• The acquisition is classified as a non-arm's-length transaction and is exempt from formal valuation and shareholder approval requirements as the fair market value does not exceed 25% of Mobio's market capitalization.

Key Details

• Target Company: Karve IT Ltd., a BC software company specializing in customer relationship management, franchise management, and field services software.
• Flagship Product: "Move Right," currently in use across 20 locations in North America.
• Acquisition Structure:
  • Dividend in Kind: Tracksuit Movers Inc. (a wholly owned subsidiary of Mobio) transferred 200,000 common shares of Karve to Mobio. These shares were valued at $120,000 (60 cents per share).
  • Share Exchange: Mobio acquired 310,000 common shares of Karve from Plank Ventures Ltd. in exchange for issuing 2,861,538 common shares of Mobio from treasury. Plank's shares were valued at $186,000 (60 cents per share).
• Valuation: The total consideration for the 510,000 total shares of Karve was valued at $306,000 ($120,000 + $186,000).
• Regulatory Status: The transaction is non-arm's-length due to common control and management between Mobio and Plank. It is exempt from Multilateral Instrument 61-101 sections 5.5 (valuation) and 5.7 (shareholder approval) because the fair market value is under 25% of Mobio's market capitalization.
• Closing Date: November 19, 2025.
• Finders' Fees: None paid.

Notable Quotes

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