Mobiquity Technologies, Inc. Announces Closing of $3.0 Million Public Offering

Mobiquity Technologies, Inc. (NASDAQ: MOBQ) (the “Company”), a provider of next-generation data intelligence and advertising technology solutions, announced today the closing on June 30, 2023 of its previously announced “reasonable best efforts” public offering of 30,000,000 shares of common stock (or common stock equivalents in lieu thereof) at an effective price of $0.10 per share for aggregate gross proceeds of approximately $3.0 million, prior to deducting placement agent fees and other offering expenses payable by the Company.

Spartan Capital Securities, LLC acted as the Company’s exclusive placement agent for the offering. Ruskin Moscou Faltischek P.C. represented the Company and Manatt, Phelps & Phillips, LLP represented Spartan Capital Securities, LLC.

The Company filed a final prospectus relating to the offering with the Securities and Exchange Commission on June 30, 2023, which describes, among other things, the terms of the securities sold in the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Mobiquity Technologies

Mobiquity Technologies, Inc. is a next-gen, Platform-as-a-Service (PaaS) company for data and advertising. The Company maintains one of the largest audience databases available to advertisers and marketers through its subsidiaries. Mobiquity Technologies’ current platforms; Advangelists (www.advangelists.com) and MobiExchange (www.mobiexchange.com) provide programmatic advertising technologies, data insights on consumer behavior, automated ad copy and omni-channel delivery options. For more information, please visit: https://mobiquitytechnologies.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Mobiquity Technologies, Inc. Investor Relations:

Columbia Marketing GroupEmail: [e-mail]: 646-736-1900