Mobile Integrated Systems Inc Announces Definitive Agreement To Acquire Quantitative Alpha Trading Inc

Mobile Integrated Systems Inc and Quantitative Alpha Trading, Inc. announced the execution of a definitive agreement providing that MOBI will acquire all of the outstanding common shares of QAT on the basis of 0.2222 of a share of MOBI's common stock in exchange for each outstanding share of QAT. The Parties also announced the execution of a perpetual worldwide licensing and commercialization agreement to develop QAT software and market all of QAT's products. The Parties intend to complete the Transaction by way of a plan of arrangement under the Business Corporations Act (Ontario). The Parties have agreed to use their commercial efforts to close the Transaction as soon as practicable. MOBI has agreed to provide a first priority secured bridge loan to QAT to a maximum amount of CAD800,000 in order to assist QAT in meeting its normal course obligations until the closing of the Transaction. Terms of the transaction were not disclosed.