Mobilum Technologies Inc. — Capital/Financing Update 2021

Jan 8, 2021

LiteLink Technologies Announces Leadership Transition, Private Placement and Share Consolidation

Vancouver, British Columbia – January 8, 2021 – LiteLink Technologies Inc. (the “ Company ”) (CSE: LLT) (OTC:LLNKF) (FRA:C0B:FF), a company focused in emerging technologies , is pleased to announce the restructuring of its board of directors and management to better align and reflect the Company’s business and objectives. The Company will now be led by Peter Green as Chairman and Chief Executive Officer. Peter has extensive leadership experience with both large corporate organizations and privately held business with national and international operations in cloud technologies, AI, mobile, and telecommunications sectors. Most recently Peter held the position of President of Business Solutions at TELUS.

“I am pleased to join at such an exciting time in the Company’s evolution,” said Peter Green. 2021 marks an important inflection point in the Company’s advancement. The quality of our incoming personnel reflects our commitment to making continued investments in strong management teams coupled with strong emerging technologies that are disrupting multiple technology sectors poised for growth.”

“The Global pandemic has allowed for industries to innovate much quicker and adapt to the times, we will play an important role to facilitate investment growth in this process. Now is the time for companies such as ours to flourish, with the right strategy and team in place. Moreover, I am eager to work with the talented team, we are committed to create value for our shareholders and will be keeping you current on our exciting road ahead.”

Peter will be onboarding an experienced team to support material growth opportunities with extensive capabilities in Business Development, Product Development and Sales/Marketing. Joining Peter on the board are Aleem Nathwani and Mike Devine as Independent Directors.

Peter Green – Director, Chairman and Chief Executive Officer

The hallmark of my career in over 25 years within the international ICT marketplace is building high performance teams. Every meaningful accomplishment comes from the energy of a team; the bond of a common goal supported by a genuine sense of caring for each other. When we bring together great people, form exceptional teams and nurture their development, we create exceptional customer experiences and amazing business results.

INDUSTRY IMPACT:

• Led the transition of the UK and Ireland business at Cable and Wireless

• Initiated and led the largest contract in TELUS history (1B over 10-year contract BC Government

• Transformed TELUS Small and Medium Business from declining to $100M growth in 2 years

Aleem Nathwani – Independent Director

Mr. Nathwani has over sixteen years of experience working with and advising start-ups, from inception through to acquisition or public offering. He was one of the earliest team members at Nutanix (NASDAQ: NTNX, $6B+ MCAP), pioneers in the hybrid-cloud space, where he played key roles in driving business development. He held strategic leadership roles within TELUS Communications, incubating technology infrastructure and outsourcing deals for large enterprise customers, helping grow their portfolio to $100M+. Mr. Nathwani has also held advisor and board positions with a number of public and private companies.

Michael Devine – Independent Director

Mr. Devine has over 20 years of executive technology experience in sales, marketing, and operations. He has founded and advised multiple start-up companies, from inception to acquisition. Most recently, he founded Jet Digital, a technology company focused on the high-speed movement of data to enable content creators and collaborators, the ever-increasing remote workforce, and organizations looking to transform their business by moving to the cloud. Previously, he was a strategic leader at various companies, including an industrial IoT analytics company, 10 years with Squirrel Systems a global hospitality technology innovator, and 9 years with Navigata Communications an enterprise telecommunications provider. Prior to its eventual sale, Mr. Devine was also co-founder and President of a loyalty, e-gifting, and customer relationship management software company.

Private Placement and Share Consolidation

The Company also announces that it will proceed with a consolidation of its common share capital on a two and a half-for-one basis (the “Consolidation”). The Consolidation was previously approved at the annual general and special meeting of shareholders of the Company held on October 8, 2020. The Company currently has 172,407,491 common shares outstanding and following completion of the Consolidation it is expected that the Company will have approximately 68,962,996 shares outstanding. The Company will provide further details regarding the Consolidation, along with the effective date as soon as they become available.

In connection with completion of the Consolidation, the Company intends to offer up to 10,000,000 postConsolidation common shares by way of a non-brokered private placement. The shares will be offered at a post-Consolidation price of $0.10 per share for gross proceeds of up to $1,000,000. In connection with completion of the private placement, the Company may pay finders' fees to eligible parties, who assist in introducing subscribers to the Company. The Company intends to use the net proceeds of the private placement to fulfill customer orders, retire existing debts and payables and for general working capital purposes.

All securities to be issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. Completion of the Consolidation and the private placement remains subject to the approval of the Canadian Securities Exchange. Completion of the private placement is subject to completion of the Consolidation.

Incentive Stock Options

The Company also announces that it has cancelled a total of 8,000,000 incentive stock options granted under the Company’s stock option plan. These options were granted to a former officer of the Company and were exercisable at a price $0.35 until August 3, 2023. The cancelled options were voluntarily surrendered by the holder for no consideration. Following the cancellation, the Company has 6,070,000 options outstanding. The option plan allows the board of directors to issue the equivalent of up to twenty percent of the issued and outstanding share capital of the Company.

About LiteLink

LiteLink Technologies Inc. (CSE:LLT.CN) (OTC:LLNKF) (FRA:C0B:FF) a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI, cloud technologies, and gaming. Led by senior leaders and industry experts, LiteLink invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.