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Mobi724 Global Solutions Signs a Commercial Agreement with CGI

Newsfile Corp.
·3 mins read

Montreal, Quebec--(Newsfile Corp. - September 10, 2020) - Mobi724 Global Solutions Inc. (TSXV: MOS) ("Mobi724 Global" or the "Company"), a fintech enabler of AI-enhanced payment card-linked incentives, announces that its wholly owned subsidiary, Mobi724 Smart Transactions Inc. ("Mobi724 Smart"), has entered into a sub-contracting agreement ("Agreement") with Conseillers en gestion et informatique CGI Inc. ("CGI"), a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), one of the largest independent IT and business consulting services firms in the world, to provide CGI with some of its processing platform solutions ("Mobi724 Solutions") as part of a custom development initiative ("Project") commissioned from CGI, by a third party.

CGI and Mobi724 Smart have agreed on the fees to be paid to Mobi724 Smart by CGI for the customization of the Mobi724 Solutions for the Project. The initial scope of the Project is expected to be completed within 24 months.

Marcel Vienneau, CEO of Mobi724 Global, said: "We are very proud that both our transactional data processing platform and the expertise of our IT team meet the demanding standards that are required for a project of this nature. We are excited to commercialize Mobi724's market offering alongside such an industry leader."

About CGI

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 78,000 consultants and other professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from IT and business consulting to systems integration, outsourcing services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. With annual revenue of C$12.1 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

About Mobi724 Global Solutions Inc.

Every Transaction is An Opportunity

Mobi724 Global Solutions Inc. (TSXV: MOS) is a fintech company which provides a platform, that enables banks and merchants to offer their customers real-time payment card-linked incentives, in a white-label format. Mobi724's objective is to add a layer of AI-driven actionable intelligence to every payment transaction, creating engaging consumer experiences & generating incremental commercial opportunities to its clients.

www.mobi724.com

Legal Disclaimer

Mobi724 cautions investors that any forward-looking statements or projections made by Mobi724 are subject to risks and uncertainties, that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 'Risk Factors and Uncertainties' in the Company's Management Discussion and Analysis, available on SEDAR.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute a solicitation to buy or sell any securities in the United States.

For further information, please visit www.MOBI724.com or contact:

Investor Relations:

Allan Rosenhek, CFO
ir@mobi724.com

Eli Rozhansky
Investor Relations Coordinator
ir@mobi724.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63514