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MoneyOnMobile receives $7.4M in subscriptions for rights offering

MoneyOnMobile Inc.'s subscription and escrow agent for the rights offering has received gross proceeds and subscriptions of $7.4 million into escrow from 218 investors.

MoneyOnMobile, upon closing of the offering, will issue 1,236,303 common shares to these investors. The closing of the offering is subject to the successful listing of the company's common stock on the Nasdaq Capital Market.