Mobi negotiates A$5 million subscription agreement

By Laura Lutz

Des Moines, April 19 - Mobi Ltd. announced that it has arranged a A$5 million subscription agreement with Fortrend Securities.

The agreement has not yet been formalized. It is subject to shareholder approval at an upcoming extraordinary general meeting.

Proceeds will be used to fund the company's voice-over-internet protocol aggregation and future acquisitions.

Based in South Melboune, Australia, Mobi provides applications for internet telephony and mobile data.

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