The MT+Co. Mergers, Acquisitions + Financing group acted as legal counsel for MobSafety, Inc. in connection with its completion of a reverse takeover transaction with Golden Virtue Resources Inc. (now known as Moseda Technologies Inc. or “Moseda”).
Pursuant to the transaction, all of the issued and outstanding shares of MobSafety, Inc. which were held by approximately 50 shareholders, were exchanged for common shares of Moseda. In addition, options to acquire shares of MobSafety were exchanged for options and warrants to acquire shares in Moseda.
In connection with the transaction, Moseda completed a brokered private placement of subscription receipts with a syndicate of agents which, upon completion of the reverse takeover transaction, were converted into units of Moseda (each Unit consisting of one common share and one half of a share purchase warrant).
MobSafety, founded in 2011, is a Vancouver-based software company focused on developing mobile security solutions for the enterprise and consumer markets. Best known for its filter-enabled, safe Web Browser and secure Mobile Device Management platform, MobSafety is a leading provider of security products that help mobile users to protect their data and devices.
The MT+Co. legal team for this transaction was led by Brian Vick.