The Offering will be made on a best-efforts, fully-marketed basis.
Proceeds from the proposed Offering will be used to fund MoPals user and member acquisition, business expansion and signups, continued development of the technology platform, potential acquisition financing and general corporate working capital needs. The anticipated closing date is on or about November 30th, 2014 or such date as the Company, Amarok and Cabrillo may agree.
MoPals is considered the world’s first community-driven, crowd-sourced loyalty program, bridging the gap between social media and reward platforms. The Company’s valuation under this private placement is estimated to be $60 million with a per-share price of approximately $1.15 per share.
MoPals’ goal is to acquire over 10 million members and sign up 10,000 business locations across North America over the next 36 months.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.
