Mogo Inc. (MOGO), a digital wealth and payments business, on Thursday announced a new tie-up with Postmedia Network Inc., a Canadian news media firm, to launch a new content channel with news and information on wealth-building.
According to the deal, Mogo will issue 500,000 warrants to Postmedia, each such warrant entitling Postmedia to acquire one Mogo share at a price of $2.15 for a period of three years.
The channel will be focused on educating Canadians on how to invest, accumulate wealth, and manage it effectively to achieve their financial goals, addressing a gap in the availability of quality educational content from existing financial services providers.
With this, Postmedia will establish a new digital channel on the Financial Post platform, with distribution extending to other Postmedia properties.
Postmedia will independently operate the channel with Mogo as its founding sponsor.
Mogo will also contribute its own branded educational content and tools on wealth-building, including its patent-pending wealth calculator.
Postmedia reaches around 17.8 million Canadians a month across its platforms.
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