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Mobile Klinik Completes $27.5 million Class A Preferred Share Financing

Published: 05/10/2019

Team: Sean Maniaci, Nicola Geary, Alykhan Somani, Amanda Metallo, James G. Morand

On May 10, 2019, Mobile Service Centre Canada Limited (“Mobile Klinik” or the “Company”) completed a Class A Preferred Share financing for $27.5 million, which included the conversion of all of the Company’s Series A promissory notes. The financing was led by certain investments funds, and included minority investments by various funds and individuals, including several of the Company's founders and early-stage investors. Mobile Klinik will use the proceeds from this financing to complete its planned rollout of 200 Canadian stores by 2022. 

Mobile Klinik is a professional smartphone and tablet repair, care, sales and services retail chain with stores in British Columbia, Alberta, Manitoba, Saskatchewan, Ontario, Québec, New Brunswick, Newfoundland and Labrador. 

Cassels Brock represented Mobile Klinik with a deal team that included Sean Maniaci, Nicola Geary, Aly Somani and Amanda Metallo (Business) and Jim Morand (Tax).