DALLAS, TX and MUMBAI, INDIA / ACCESSWIRE / July 2, 2018 / MoneyOnMobile, Inc. (OTCQB: MOMT) announces that its subscription agent and escrow agent for the rights offering has received gross proceeds and subscriptions of $7,417,818 into escrow from 218 investors. Upon closing of the rights offering, the Company will issue to these investors 1,236,303 shares of its common stock. The closing of the rights offering is subject to its Common stock successfully listing on the Nasdaq Capital Market.
”We are grateful to our shareholders for their overwhelming support of our offering. We thank all the full-service brokers and financial advisors who assisted our shareholders throughout the offering. We are excited to see positive shareholder validation of our business model and acknowledgment of our recent growth and market opportunity. This capital infusion enables us to continue to execute our business plan and drive growth across our product lines,” said Harold Montgomery, chief executive officer and chairman.
About MoneyOnMobile, Inc.
MoneyOnMobile, Inc. is an India focused mobile payments technology and processing company offering mobile payment services. MoneyOnMobile enables Indian retailers to use mobile phones to accept payment for goods and services or transfer funds from one person to another. It can be used as simple SMS text functionality or through the MoneyOnMobile application or internet site. MoneyOnMobile has more than 350,000 retail locations throughout India.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on July 6, 2017. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Web site: www.MoneyOnMobile.in
Media Contact (Global):
Head of Global Communications
+1 (214) 208-0923
Integra Consulting Group, LLC
Jeremy G. Roe, Founder, Managing Partner
+1 (925) 262-8305