Mobilum Technologies Announces Strategic Review of European Operations

VANCOUVER, BC / ACCESSWIRE / May 5, 2023 / Mobilum Technologies Inc. ("Mobilum" or the "Company") (CSE:MBLM)(OTCQB:MBLMF)(FRA:C0B), a digital payment service provider that has been offering reliable and secure payment solutions to businesses and consumers, announces that it continues restructuring its operations.

Mobilum's legacy services are related to technology and licensing that enable online fiat to crypto conversion, a service known as onramping. Much has changed within the global competitive landscape and European regulatory environments related to cryptocurrencies and onramping. Mobilum therefore has commenced a review of its operations and assets with consideration of its potential divesture of its European subsidiaries, Mobilum Pay and UAB Mobilum Tech.

As set out in previous reports, Mobilum is focusing its efforts and resources on better, potentially more lucrative markets and geographies such as bill payments services in the United States.

"Mobilum remains committed to servicing the payments industry with innovative services and products. We are focusing our efforts and resources towards markets and services in an effort to create greater value for the organization," said Steve LaBella, CEO of Mobilum.

About Mobilum Technologies Inc.

Mobilum Technologies Inc. (CSE:MBLM)(OTC:MBLMF)(FRA:C0B) is a technology-driven Digital Service Provider (DSP) with a mission to make digital assets and cryptocurrencies accessible through traditional finance and payment infrastructure and digital asset management technologies, providing solutions for Exchanges, Wallets and Cryptocurrency Businesses, NFTs marketplaces, Protocols, Decentralized Applications and Decentralized Autonomous Organizations, Metaverse and Play-to-Earn games, and Traditional Finance Institutions (Banks, Hedge Funds, Insurance and Fintech companies) opening its doors to digital assets space. Our goal is to allow consumers around the world to convert fiat-to-crypto and crypto-to-fiat with Mobilum's on-ramp and off-ramp solutions. Mobilum has offices in Canada, Lithuania, Poland, and the United States. For further information go to www.mobilum.com.

Related Links

https://mobilum.com

For further information: please contact Mobilum Investor Relations via email at ir@mobilum.com

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

Contact Information:

Investor Relations
John Henderson, COO & Interim CFO
Phone: +1 (250) 809-5909
Email: IR@mobilum.com

SOURCE: Mobilum Technologies Inc.