Mogo Finance announces merger with Difference Capital Financial
Apr. 15, 2019 11:47 AM ETMogo Inc. (MOGO), MOGO:CATNTHFBy: Akanksha Bakshi, SA News Editor
- Mogo Finance Technology (NASDAQ:MOGO +3%) announces signing of a definitive arrangement agreement to merge Mogo by way of a plan of arrangement with Difference Capital Financial Inc. (OTC:TNTHF).
- Each common share of Mogo will be exchanged for one Difference common share. Upon completion, former Mogo shareholders will own approximately 80% of the Combined Entity on a fully diluted basis.
- The resulting company is expected to be named 'Mogo Inc.'
- "This transaction enables Mogo to continue to invest in new products and innovation, building on our leadership position in the Canadian fintech space," said David Feller, Mogo's Founder and CEO.
- The Transaction is expected to close in the second quarter of 2019.