Mogo to Issue 500,000 Warrants to Postmedia as Part of Content Partnership

Dow Jones06-13

By Adriano Marchese

Mogo will issue 500,000 warrants as part of a partnership agreement with Postmedia Network Canada to launch a new content channel with news and information on wealth-building.

The digital wealth and payments business said Thursday that the new channel will be aimed at educating viewers on how to invest, accumulate and manage wealth.

As part of the arrangement, Mogo will issue to the Canadian news media company 500,000 warrants entitling Postmedia to acquire one Mogo share per warrant at a price of 2.15 Canadian dollars ($1.57) apiece.

Shares of Mogo have been under pressure in 2024, falling about 14% to C$2.10 year-to-date. Over the last 12 months, the stock is down 28%.

Under the terms of the arrangement, Postmedia will independently operate the channel with Mogo as its founding sponsor.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

June 13, 2024 08:28 ET (12:28 GMT)

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