2014

Forum Mobile, Inc. Enters into a Share Exchange Agreement with Mount Knowledge Holdings, Inc.

NEW YORK, March 21, 2013 /PRNewswire/ --

Forum Mobile Inc. (OTC: FRMB) announced today that it entered into a share exchange agreement on March 19th with Mount Knowledge Holdings, Inc. (OTCPK: MKHD), a software development and sales company focused on providing innovative technology solutions, according to which Mount Knowledge Holdings will acquire FRMB's wholly-owned subsidiary Forum Mobile Israel Ltd., a leading global MVNE with an end-to-end cloud platform and solutions required for the launch of MVNO business and operations, in exchange for shares of Mount Knowledge Holdings, Inc., following which Forum Mobile, Inc. will become the majority owner of Mount Knowledge Holdings, Inc.

"The transaction with MKHD is part of our plan to leverage the capital markets to execute our growth strategy by increasing our reputation among investors and potential M&A candidates," said Ami Segal, Forum Mobile CEO and Chairman. "M&A in the space is very active and Forum Mobile sees itself as a platform which will integrate cutting-edge technologies to provide the most comprehensive and advanced MVNE available anywhere in the cloud. We are in preliminary discussions with a number of potential candidates for merger, acquisition and/or joint venture which could dramatically accelerate our model and position us well for significant growth subsequent to the completion of the acquisition."

Mount Knowledge CEO Jim Beatty commented, "We're very excited to be acquiring a company within the big data realm, an area outpacing growth of the overall technology sector by a significant multiple. Forum Mobile is managed by a group of seasoned business and technology professionals. The company is positioned for a high and consistent growth rate across 3 business lines in multiple geographies. The cloud-based MVNE platform is expanding quickly to support a new crop of global Mobile Virtual Network Operators (MVNO's) capitalizing on next generation mobile solutions like mobile marketing, customer loyalty programs and mobile payment platforms, in an ever-expanding mobile marketplace."

Chardan Capital Markets, LLC is acting as sole M&A advisor on the transaction and investment banker to the parties.

Additionally, the Mount Knowledge has engaged Source Capital Group, Inc., (SCG) to assist Forum Mobile on capital markets initiatives, strategic introductions, and additional mergers and acquisitions.  Vik Grover, CFA, Director of SCG's TMT Practice, has over 15 years experience in the Communications field. Before working in investment banking, Grover was with Thomas Weisel Partners and Needham & Co. as a Senior Research Analyst covering Communications Services, including Internet service providers (ISPs), voice over Internet protocol (VoIP) and Internet infrastructure.  

"The mobile services market is moving into a new era of growth. A new breed of MVNO's has emerged to capitalize on 4G broadband networks and are leveraging new service delivery models targeting niche demographics and alternative price points. The marriage of Forum Mobile's leading MVNE cloud platform and value added distribution model to Mount Knowledge's public vehicle, positions the combined companies well for strong growth during the coming years," Grover stated.

The transaction is anticipated to close on or before May 14, 2013.

About Forum Mobile

Forum Mobile is a global MVNE, which provides MVNOs as well as low-tier MNOs with an end-to-end platform, solutions and related services required for the launch of their business and operations, including core networking and IT, application development, MNO relationship, SIM cards solutions and handsets. Forum Mobile helps companies globally (mainly retailers) to leverage their existing operations, branch locations and customer service, and utilize their existing customer base in order to provide mobile solutions and services in a fast and cost effective way

This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements in this press release are made based on management's current expectations and estimates, which involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward looking statements. These risks and other factors include but are not limited to: the success or failure of management's efforts to implement the Company's business plan; the ability of the Company to fund its operating expenses; the ability of the Company to compete with other companies that have a similar business plan; the effect of changing economic conditions impacting our plan of operation; and the ability of the Company to meet the other risks as may be described in future filings with the Securities and Exchange Commission. We cannot guarantee future results, levels of activity, performance or achievements. Forum Mobile, Inc. does not assume any obligation to update the forward-looking information contained in this press release.

Contacts
Yael Greenberg
Forum Mobile, Inc.
yael@forum-mobile.com
Tel: +1-212-461-4730


SOURCE Forum Mobile Inc.




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