Mogo Fi­nance ar­ranges $15mil­lion bought deal

Stockwatch Daily - - FINANCE - Mr. Craig Ar­mitage re­ports

MOGO FI­NANCE Tech­nol­ogy Inc. has en­tered into an agree­ment with a syn­di­cate of un­der­writ­ers, co-led by Cor­mark Se­cu­ri­ties Inc. and Canac­cord Ge­nu­ity Corp., pur­suant to which the un­der­writ­ers have agreed to pur­chase 2,142,900 com­mon shares from the trea­sury of the com­pany, at a price of $7 per share and of­fer them to the pub­lic by way of short

form prospec­tus.

In ad­di­tion, the com­pany has granted the un­der­writ­ers an op­tion to pur­chase up to an ad­di­tional 321,435 shares from the trea­sury of the com­pany at the of­fer­ing price ex­er­cis­able at any time up to 30 days fol­low­ing clos­ing (as de­fined herein), for mar­ket sta­bi­liza­tion pur­poses and to cover over­al­lot­ments, if any.

The net pro­ceeds of the of­fer­ing will be used for the de­vel­op­ment of its next-gen­er­a­tion dig­i­tal plat­form and new prod­uct launches, and in­clud­ing work­ing cap­i­tal and other gen­eral cor­po­rate pur­poses.

Clos­ing of the of­fer­ing is ex­pected to oc­cur on or about Dec. 28, 2017, and is sub­ject to reg­u­la­tory ap­proval, in­clud­ing that of the Toronto Stock Ex­change.

The shares to be is­sued un­der the of­fer­ing will be of­fered by way of a short form prospec­tus in each of the prov­inces of Canada, ex­cept Que­bec.

About Mogo Fi­nance Tech­nol­ogy Inc.

Mogo, a Van­cou­ver-based fi­nan­cial tech­nol­ogy com­pany, is fo­cused on build­ing the best dig­i­tal fi­nan­cial ser­vices ex­pe­ri­ence for the next gen­er­a­tion of Cana­di­ans. Mogo’s plat­form cur­rently de­liv­ers five in­no­va­tive prod­ucts de­signed to help con­sumers get in con­trol of their fi­nan­cial health. Built mobile first, users can sign up for a free Mogo ac­count in only three min­utes and get ac­cess to free credit score mon­i­tor­ing, iden­tity fraud pro­tec­tion, the Mogo Plat­inum pre­paid Visa card, mort­gages and per­sonal loans.

David Mar­shall Feller, Gregory Dean Feller, Thomas Craig Lis­ton, Min­has N Mo­hamed, Ron­ald Thomas Pat­ter­son, Praveen Ku­mar Varsh­ney

(MOGO) Shares: 18,458,051

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