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Mobio INsider Reaches 221,000+ Registered Users - Strutta Realizes Milestone Payment
Tuesday, May 6, 2014Company Profile | Follow Company
Converged Social Media Offering of Mobio+Strutta Attains Monthly Revenue of $100,000
Vancouver, BC, May 6, 2014--(T-Net)--Mobio INsider, the social network for influencers and their followers, and a portfolio company of LX Ventures Inc.(TSXV:LXV), announced that it has achieved a number of major milestones in its first five months of operation:
“Mobio continues to expand its global reach, with the next leg of growth coming from the recently launched revenue sharing program, “Be Social. Get Paid,” commented Mark Binns, CEO of Mobio. “The combination of Mobio's social media traffic and Strutta's social promotions platform also provides a compelling new way for advertisers to engage with their target audience. This dynamic combination accelerates revenue growth and value creation for the shareholders of LX Ventures.”
Strutta Realizes Initial Milestone Payment
Strutta, which was acquired by LXV on January 31, 2014 and subsequently converged with Mobio INsider, has also attained the first revenue-based milestone agreed to as part of the purchase of Strutta. Upon the integrated offerings of Mobio INsider and Strutta's social promotions platform reaching a monthly revenue target of $100,000, LXV is required to issue 3,125,000 common shares to the former shareholders of Strutta. The shares issued today pursuant to the milestone target are subject to a 4 month hold period and are subject to further pooling restrictions over the next 18 months thereafter.
Contact:
Liolios Group Inc.
Scott Liolios or Wojtek Nowak
1-949-574-3860
lxv@liolios.com