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BRIEF-Mogo To Enter $4+ Trillion Canadian Wealth Management Industry

Published 2021-03-23, 07:37 a/m
© Reuters.

March 23 (Reuters) - Mogo Inc MOGO.TO :

* MOGO TO ENTER $4+ TRILLION CANADIAN WEALTH MANAGEMENT INDUSTRY WITH ACQUISITION OF LEADING SAVING AND INVESTING APP, MOKA FINANCIAL TECHNOLOGIES INC.

* MOGO INC (BRITISH COLUMBIA) - ENTERED INTO A BINDING LETTER OF INTENT TO ACQUIRE 100% OF MOKA FINANCIAL TECHNOLOGIES INC. IN AN ALL-STOCK TRANSACTION

* MOGO INC (BRITISH COLUMBIA) - AFTER COMPLETION OF DEAL, PHILIP BARRAR, FOUNDER & CEO OF MOKA, WILL JOIN CO'S TEAM AS CHIEF INNOVATION OFFICER

* MOGO INC (BRITISH COLUMBIA) - LIAM CHEUNG, CHAIRMAN OF MOKA AND PARTNER AT MOKA SHAREHOLDER TACTICO, IS EXPECTED TO JOIN MOGO'S BOARD OF DIRECTORS

* MOGO INC (BRITISH COLUMBIA) - TO ACQUIRE ALL SHARES OF MOKA IN EXCHANGE FOR 5 MILLION COMMON SHARES OF CO & ASSUMPTION OF NET DEBT OF ABOUT $3.0 MILLION

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